Mineral Exploitation

Question 1

Lasky principle

Answer 1

In general as the purity of a mineral decreases, amount of mineral present increases exponentially.

Problem w future mineral supplies not quantity but ability to exploit low grade deposits

Question 2

Reserves, resources and stock

Answer 2

Crust mineral deposits split into whether tech exists to exploit them and whether exploitation economically viable
Stocks only - exploitation not economically viable, low grade ore

Reserves - exploitation economically viable and tech exists.

Resource

Changes in Cut off Ore Grade (COOG) + reserves grow as tech developed.

Question 3

Mining companies prepare yrs ahead -

Answer 3

methods of investigating- expensive esp trial drilling so future cheaper methods w less info.
More exploratory technique take place nearer time

Question 4

Stock ( resource base)

Answer 4

All of the material that currently exists in lithosphere whether exploited, exploitable or not ever exploitable

Question 5

Resource

Answer 5

Larger then reserves - all material theoretically available for exploitation future or now
W realistic increase in price and tech.

Question 6

Reserves

Answer 6

Amount of resource that can be exploited now, economically using existing technology.
Resource size can change.

Question 7

Reserve categories

Inferred reserves

Probable reserves

Proven reserves

Answer 7

1 - est. from geographical structures but not enough known to est. amount economically extractable

2 - sufficient info abt deposit known - amnt economically extracted est. w sufficient accuracy further exploration justified.

3 - sufficient exploitation inc trial drilling to accurately est. amount mineral economically extracted

Question 8

Factors that limit viability of mineral exploitation

Answer 8

• absence of tech to exploit deposits
• financial cost of exploitation too much
• env. Impact unacceptable