Search results
Results from the WOW.Com Content Network
Diagram as published by McKelvey in 1973 [1] Diagram as published by McKelvey in 1976 [2]. A McKelvey diagram or McKelvey box is a visual representation used to describe a natural resource such as a mineral or fossil fuel, based on the geologic certainty of its presence and its economic potential for recovery.
Mineral resources are concentrations of minerals significant for current and future societal needs. Ore is classified as mineralization economically and technically feasible for extraction. Not all mineralization meets these criteria for various reasons. The specific categories of mineralization in an economic sense are:
The discipline of mineral economics examines the success and the implications associated with the mining industry and the impact the industry has on the economy socially and regarding the climate. [4] Mineral economics is a continuing, evolving field which originally started after the Second World War and has continued to expand in today's ...
The traditional curriculum of natural resource economics emphasized fisheries models, forestry models, and mineral extraction models (i.e. fish, trees, and ore). In recent years, however, other resources, notably air, water, the global climate, and "environmental resources" in general have become increasingly important to policy-making.
A 2023 survey showed that 25 of 34 minerals deemed "critical raw materials" by the European Commission were found in Greenland. The extraction of oil and natural gas is banned in Greenland for ...
India's major mineral resources include coal (4th largest reserves in the world), iron ore, manganese ore (7th largest reserve in the world as in 2013), lithium ore (6th largest reserve in the world as in 2023), [6] mica, bauxite (5th largest reserve in the world as in 2013), [7] chromite, natural gas, diamonds, limestone and thorium.
Giurco et al. (2009) [8] indicate that the debate about how to analytically describe resource depletion is ongoing. Traditionally, a fixed stock paradigm has been applied, but Tilton and Lagos (2007) [9] suggest using an opportunity cost paradigm is better because the usable resource quantity is represented by price and the opportunity cost of using the resource.
Georgius Agricola's classification of minerals in his book De Natura Fossilium, published in 1546, divided minerals into three types of substance: simple (stones, earths, metals, and congealed juices), compound (intimately mixed) and composite (separable).