Mineral resource classification Facts for Kids

Mineral deposits are like hidden treasures deep within the Earth. They contain valuable materials such as metals or minerals. To decide if it's worth digging them up, experts need to figure out how much is there and how good its quality is. This process is called the economic evaluation of mineral deposits.

Different countries and organizations use similar systems to classify these deposits. Many of these systems are based on the International Reporting Template. This template was created by a group called CRIRSCO (Committee for Mineral Reserves International Reporting Standards). Examples of these systems include the JORC Code from Australia, the PERC Reporting Standard from Europe, and the SAMREC code from South Africa. These systems help everyone understand the reports about mineral deposits in the same way.

Mineral Resources: What's There?
Mineral Reserves: What Can Be Mined?
- Probable Mineral Reserve
- Proved Mineral Reserve
See also

Mineral Resources: What's There?

A Mineral Resource is a concentration of valuable material in the Earth's crust. It's found in a form, quality, and amount that makes it likely to be dug up and used in the future.

Mineral Resources are divided into three categories. These categories show how confident experts are about the amount and quality of the mineral. They go from least confident to most confident:

Inferred Mineral Resource

An Inferred Mineral Resource is an estimate based on limited information. Experts have some geological evidence, but they haven't fully confirmed how much mineral is there or how it's spread out. They gather information from places like surface rocks, trenches, or drill holes. However, the quality of this information might be limited or uncertain.

Indicated Mineral Resource

An Indicated Mineral Resource has more reliable information. Experts have taken more samples from various locations like outcrops, trenches, pits, and drill holes. This allows them to make a reasonable estimate of the amount, quality, shape, and density of the mineral.

Measured Mineral Resource

A Measured Mineral Resource is the most certain category. It's an Indicated Resource that has been sampled even more thoroughly. A qualified expert, usually a geologist, has declared that there is a high level of confidence in the estimate. This includes the quality, quantity, shape, and density of the mineral.

The United Nations Economic Commission for Europe (UN-ECE) has also been working on its own classification system since 1998. This system is called the 'International Framework Classification for Reserves and Resources'.

In general, the more experts know about a mineral deposit, the higher its classification. According to the CRIRSCO system, mineral deposits are classified as either Mineral Resources or Mineral Reserves.

Mineral Reserves: What Can Be Mined?

A Mineral Reserve is the part of a Measured Mineral Resource or Indicated Mineral Resource that can be mined economically. This means it's worth the cost and effort to dig it up and process it.

Mineral Reserves are divided into two categories, showing increasing confidence:

Probable Mineral Reserve

A Probable Mineral Reserve is the part of an Indicated Mineral Resource that can be mined economically. Sometimes, it can also include parts of a Measured Mineral Resource. This estimate includes material that might get mixed in during mining and accounts for any losses. While it has a lower level of confidence than a Proved Mineral Reserve, it's good enough to help decide if a mining project should go ahead.

Proved Mineral Reserve

A Proved Mineral Reserve is the part of a Measured Mineral Resource that can be mined economically. Like Probable Reserves, it includes mixed-in materials and accounts for losses during mining. A Proved Mineral Reserve represents the highest level of confidence in the estimate. It means experts are very sure about the geology and all the other factors involved in mining. However, some types of mineral deposits might not be able to achieve this highest level of confidence.

To change a Mineral Resource into a Mineral Reserve, experts consider many important factors. These are called Modifying Factors. They include:

Mining factors: How easy or difficult it is to dig up the mineral.
Processing factors: How the mineral will be separated and prepared.
Metallurgical factors: How the valuable metal will be extracted from the mineral.
Infrastructure factors: Things like roads, power, and water needed for the mine.
Economic factors: The costs of mining versus the price the mineral can be sold for.
Marketing factors: How easy it is to sell the mineral.
Legal factors: Laws and regulations about mining.
ESG factors: This stands for Environmental, Social (including health and safety), and Governance. These factors look at how mining affects the environment, local communities, and how the company is managed.

Mineral resource classification facts for kids

Contents