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.