OR/13/013 What is a mineral resource

Green, S, Campbell, E, Bide, T P, Balson, P S, Mankelow, J M, Shaw, R A, and Walters, W S. 2013. The mineral resources of Scottish waters and the Central North Sea. British Geological Survey Internal Report, OR/13/013.

A mineral resource is a natural concentration or occurrence of material of intrinsic economic interest in or on the Earth’s crust in such form, quality and quantity that there are reasonable prospects for eventual economic extraction.

Mineral resources generally correspond to the boundaries defined by geological mapping, which may be supplemented by more detailed geological data. The mineral resources defined by this study show the areas within which potentially workable minerals may occur. What may be of economic interest does change over time as markets decline or expand, product specifications change, recovery technology is improved or more competitive sources become available. The spatial extent of mineral resources therefore shows all minerals which have resource potential in terms of physical and/or chemical properties that make them suitable for specific uses, irrespective of the extent of the deposit, planning constraints (such as exclusion zones), operational constraints (such as water depth) and proximity to markets or other economic factors.

That part of a mineral resource which has been fully evaluated and is commercially viable to work is called a mineral reserve. In the context of marine planning, the term mineral reserve should strictly be further limited to those minerals for which a valid licence for extraction exists (i.e. permitted reserves). Without a valid planning consent no mineral working can take place and consequently the inherent economic value of the mineral resource cannot be released and resulting wealth created.