The concept and measurement of mineral reserves and resources

The distinction between an exploitable and a non-exploitable mineral deposit is dynamic, varying as a function of changing economic and technological factors. A conceptual framework is proposed: ‘reserves’ are restricted to known currently exploitable deposits; ‘known resources’ are reserves plus currently non-exploitable deposits; ‘total resources’ are known resources plus all deposits not yet discovered. The short-term inadequacy of some mineral reserves requites a policy of accelerated mineral exploration and rapid development of new exploration techniques. Future problems could be avoided if the nature of resources is recognized and new mineral extraction and processing techniques for lower grade and unconventional mineral deposits are developed.