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Proven and Probable mineral reserves and Measured and Indicated mineral resources are commonly misused terms. The exact definitions can be hard to find but here they are all in one place, referenced from NI 43101 and the JORC code.
#0183;#32;Mineral resources are potentially valuable, and for which reasonable prospects exist for eventual economic extraction. Mineral reserves are valuable and legally and economically and technically
Mineral resources are generally discovered during the exploration phase in the mineral development process. During this phase, and the following deposit appraisal phase, increasingly detailed surveys and studies are carried out to identify the location, quantity, grade, geological characteristics and continuity of the mineral resource.
#0183;#32;Each resource the overall quantity of something has reserves the part we can access with mining, drilling or other methods. Types of Resources How much of a resource is actually present?
A resource is that amount of a geologic commodity that exists in both discovered and undiscovered depositsby definition, then, a best are that subgroup of a resource that have been discovered, have a known size, and can be extracted at a profit. For example, of the world''s estimated oil resource of three trillion barrels, the world''s reserves are estimated at about a
Resources vs Reserves What do estimates of shale gas mean? 27 July 2013 . Resources versus reserves 2 Note on resources versus reserves The British Geological Society report, published today provides an estimate of the gas in place in the BowlandHodder shale that underlies northern
Mineral Reserves are those parts of Mineral Resources which, after the application of all mining factors, are the basis of an economically viable project after taking account of all relevant processing, metallurgical, economic, marketing, legal, environment, socioeconomic and government factors.
As nouns the difference between resource and reserve is that resource is something that one uses to achieve an objective, eg raw materials or personnel while reserve is the act of reserving, or keeping back; reservation; exception. As verbs the difference between resource and reserve is that resource is to supply with s while reserve is to keep back; to retain.
#0183;#32;Mineral Reserves. The difference between a resource and reserve boils down one thing: a feasibility study. At the very least a preliminary, or prefeasibility study must be completed which takes into account the Modifying nongeological factors. These include technical factors include mining, processing, metallurgy.
companies in the mining sector. The debate about specific guidance for exploration, evaluation, development and production of mineral resources continues. This publication does not describe all IFRSs applicable to mining entities but focuses on those areas that are of most interest to companies in the sector. The everchanging
#0183;#32;The CIM Definition Standards on Mineral Resources and Reserves introduced definitions and guidance for the public disclosure of mineral resources and mineral reserves and mining studies used in Canada by Canadian public reporting mining companies, whether their deposits are in Canada or elsewhere in the world.
Oil resources and reserves are two very different things. The media and politicians often toss the two terms about interchangeably. It is hard to critically analyze information about our oil situation when you do not know the scientific meanings of these two terms. Learn what they actually mean so that you can laugh at the political bickering.
Mineral Resources and Ore Reserves underpin the enterprise value of a company and provide a basis for life of mine and annual budgets. Mineral Resources can be defined as the concentration of material of economic interest in or on the earths crust, whereas Ore Reserves are the parts of a Mineral Resource that can at present be economically mined.
Mineral Reserves are those parts of Mineral Resources which, after the application of all mining factors, are the basis of an economically viable project after taking account of all relevant processing, metallurgical, economic, marketing, legal, environment, socioeconomic and government factors.
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