Reserves and Resource
Reserves and Resources
- Mineral Resources: These are concentrations of minerals in the Earth’s crust that have potential economic value.
- Mineral Reserves: These are subsets of mineral resources that have been discovered, evaluated and deemed economically feasible for extraction.
Types of Mineral Resources
- Identified Resources: These are resources whose location, quality, and quantity are known.
- Undiscovered Resources: These include minerals that are believed to exist based on geological information, but have not yet been discovered.
Types of Mineral Reserves
- Proven Reserves: These have been thoroughly explored and their geological material studied enough to confirm their composition and size.
- Probable Reserves: These are less intensively explored than proven reserves and their evaluation is partly based on assumed geological continuity.
Evaluation of Mineral Resources and Reserves
- Resources and reserves are classified using methods such as geological surveys, which entail studying the Earth’s surface and sub-surface.
- Geophysical methods include the use of gravity and magnetic surveys while geochemical methods primarily involve the analysis of soil, rock, water or vegetation.
- Technological improvements in extraction can convert resources to reserves by making their extraction economically viable.
Importance of Reserves and Resources
- Assessing the amount and grade of reserves provides information for economic forecasts, industrial planning and environmental assessment.
- The availability of resources, especially non-renewable ones like metals and fossil fuels, can impact national policies and international relationships.
Environmental Concerns and Sustainable Development
- Understanding the grade and you have of reserves is crucial in planning extraction activities and their potential impact on the environment.
- There is a need for the responsible use of mineral resources and reserves to balance economic development with environmental sustainability.
- Consideration should be given to conservation techniques such as recycling, which can help lower the rate of resource depletion, and investment in alternative technologies.
- Rehabilitation of mined land, with a view to returning it to a usable state, is important and in many jurisdictions it is a legal requirement.