Mineral Reserve
The economically mineable portion of a measured or indicated mineral resource, classified as probable or proven.
Detailed Definition
A mineral reserve (also called ore reserve) is the economically mineable part of a measured and/or indicated mineral resource. It includes allowances for dilution and mining losses that occur during extraction.
Reserve classification categories
Probable Mineral Reserve: - Derived from indicated (and sometimes measured) resources - Economic viability demonstrated by preliminary feasibility study - Lower confidence than proven reserves - Mining and processing assumptions applied
Proven Mineral Reserve: - Derived from measured mineral resources only - Highest confidence level - Detailed feasibility study completed - All modifying factors considered and applied
Modifying factors considered: - Mining methods and recovery rates - Metallurgical processing and recovery - Economic factors (commodity prices, costs) - Marketing and sales considerations - Legal, environmental, and social factors - Governmental regulations and permits
Key distinction: While mineral resources represent all identified mineralization, mineral reserves represent only the portion that can be economically and legally extracted under current conditions.
Related Terms
Mineral Resource
A concentration of minerals with reasonable prospects for economic extraction, classified as inferred, indicated, or measured.
Ore
Rock or material from which valuable minerals or metals can be profitably extracted.
Feasibility Study
A comprehensive engineering study evaluating the technical and economic viability of mining a mineral deposit.