What is the difference between mineral resource and ore

Year-on-year, the mineral resources had a negative variance of This was mainly as a result of the equity adjustment for Papua New Guinea There was a year-on-year negative variance of 2. The equity adjustment at Papua New Guinea from The net effect of positive changes at the South African operations accounted for an addition of 0.

Note that these sensitivities are approximations only and based on the orebodies in the current life of mine plans and pre-feasibility studies.

Accordingly, at different gold prices, alternative mining strategies may be pursued, including the addition of more secondary reef horizons into reserves. Consideration of mining, metallurgical, economic, marketing, legal, environmental, social and governmental factors the modifying factors. Metallurgical recovery factors have not been applied to the reserve figures. This code was developed by the South African Institute of Mining and Metallurgy and is the recommended guideline for reserve and resource reporting for companies listed on the JSE Limited.

In reporting reserves, distinct cognisance has also been taken of Industry Guide 7 of the United States Securities Exchange Commission. The location, quantity, grade, continuity and other geological characteristics of a mineral resource are known, estimated from specific geological evidence and knowledge, or are interpreted from a well constrained and portrayed geological model. Mineral resources are sub-divided in order of increasing confidence in respect of geoscientific evidence into inferred, indicated and measured categories.

An inferred mineral resource is that part of a mineral resource for which tonnage, grade and mineral content can be estimated with a low level of confidence. It is based on information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that may be limited or of uncertain quality and reliability. An indicated mineral resource is that part of a mineral resource for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a reasonable level of confidence.

It is based on exploration, sampling and the testing of information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes.

A measured mineral resource is that part of a mineral resource for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a high level of confidence. It is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes.

The locations are spaced closely enough to confirm geological and grade continuity. It is an international reporting standard that has been adopted by the mining associations in Sweden SveMin , Finland FinnMin and Norway Norsk Bergindustri , to be used for exploration and mining companies within the Nordic counties.

Boliden Group Klarabergsviadukten 90 P. Summary Tables. Mineral Resources and Mineral Reserves. The table of geologic time spans presented here agrees with the dates and nomenclature proposed by the International Commission on Stratigraphy, and uses the standard color codes of the United States Geological Survey. Evidence from radiometric dating indicates that the Earth is about 4.

The geological or deep time of Earth's past has been organized into various units according to events which took place in each period. Different spans of time on the time scale are usually delimited by major geological or paleontological events, such as mass extinctions. For example, the boundary between the Cretaceous period and the Paleogene period is defined by the Cretaceous—Tertiary extinction event, which marked the demise of the dinosaurs and of many marine species.

Older periods which predate the reliable fossil record are defined by absolute age. This clock representation shows some of the major units of geological time and definitive events of Earth history. The Hadean eon represents the time before fossil record of life on Earth; its upper boundary is now regarded as 4.

Other subdivisions reflect the evolution of life; the Archean and Proterozoic are both eons, the Palaeozoic, Mesozoic and Cenozoic are eras of the Phanerozoic eon. The two million year Quaternary period, the time of recognizable humans, is too small to be visible at this scale. Application for reconnaissance permit, prospecting licence or mining lease for major minerals shall be submitted in relevant forms as prescribed in the Mineral Concession Rules, to the Deputy Commissioner of the concerned district.

On receipt of the application and enquiry report from the Deputy Commissioner, the Directorate of Mineral Resources will scrutinize and examine the technical aspects of each case and then forward it along with comments, if any, to the Department of Mining and Geology.