Mineral Resources — Definition

Definition

Mineral resources are geological concentrations of materials with present or potential economic value, while reserves refer to a more restricted economically recoverable inventory under the relevant assessment.

Mineral policy concerns more than locating deposits: exploration, extraction, processing, use and recovery from discarded products form a connected value chain. Grade, contained metal and recovered output are different quantities.

A mineral's strategic importance also depends on supply concentration, substitutes and industrial needs, so domestic occurrence does not automatically establish self-sufficiency. Sound analysis combines geological evidence, economic feasibility, technological capability and environmental responsibility.