Stock Resource Evaluation (AQA A-Level Geography): Flashcards
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Stock resources definition
Stock resources definition
Mineral deposits in Earth's crust (metals, ores, fossil fuels)
Resources vs reserves
Resources vs reserves
Resources=ALL deposits; Reserves=economically viable portions
Two parameters of McKelvey diagram
Two parameters of McKelvey diagram
Geological certainty and economic viability
Geological certainty measures
Geological certainty measures
Degree of confidence that a deposit actually exists
Economic viability evaluates
Economic viability evaluates
Whether extracting the deposit would be profitable
Measured reserves confidence level
Measured reserves confidence level
Highest confidence; 90%+ probability of being recoverable
Indicated reserves key feature
Indicated reserves key feature
Lower confidence but sufficient for feasibility studies
Inferred resources confidence level
Inferred resources confidence level
Lowest confidence; based on assumed continuity of deposits
Four physical risks in resource evaluation
Four physical risks in resource evaluation
Quantity, quality, location/accessibility, technology
Three geopolitical risks
Three geopolitical risks
Production concentration, trading confidence, conflict