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A Probable Mineral Reserve is the economically mineable part of an Indicated Mineral Resource, and in some circumstances, a Measured Mineral Resources. It includes diluting material and allowances for losses which may occur when the material is mined. A Probable Mineral Reserve has a lower level of confidence than a Proved Mineral Reserve but ...
The terminology used may vary somewhat, [6] [7] but resources in a McKelvey diagram fall into three main areas: [8] Reserves, which are already discovered and commercially-viable mineral deposits, [8] [1] Contingent [8] or conditional [1] resources, whose existence is known but which are not commercially viable at present,
Classification and management of natural resources such as minerals and petroleum are classified using differing schemes. [4] [5] In 1997, UNECE published the United Nations Framework Classification for Reserves and Resources of Solid Fuels and Mineral Commodities (UNFC-1997) as a unifying international system for classifying solid minerals and fuels. [6]
Mineral resource estimation is used to determine and define the ore tonnage and grade of a geological deposit, from the developed block model.There are different estimation methods used for different scenarios dependent upon the ore boundaries, geological deposit geometry, grade variability and the amount of time and money available.
An ore deposit is an economically significant accumulation of minerals within a host rock. [9] This is distinct from a mineral resource in that it is a mineral deposit occurring in high enough concentration to be economically viable. [4] An ore deposit is one occurrence of a particular ore type. [10]
The study is primarily focused on metallic mineral deposits and mineral resources. The techniques employed by other Earth science disciplines (such as geochemistry , mineralogy , geophysics , petrology , paleontology and structural geology ) might all be used to understand, describe and exploit an ore deposit.
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.
Quantitative mineral-resource assessments are defined as the numerical estimate of the amount, quality, and in some cases, value of undiscovered minerals (that is, metal or industrial mineral) present within a specified area (tract). Their purpose is to provide a framework for making decisions by governments or institutions concerning mineral ...