What factors are considered prior to beginning mining of a natural mineral?
<3 asked:
a. the mineral’s usefulness as a resource, i.e. what can be made
b. the mineral’s profitability; can it be sold if mined
c. the mineral’s abundance; is there enough of it to try mining.
d. all of the above.
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a) If its not useful why spend the money to mine it?
b) Mining is about money. If you can’t make your money back, why mine it?
c) If there isn’t enough to make a profit, why mine it?
So the answer is quite obvious. [who]
I can tell you that all are important, but B) profit is the #1 factor. Mining is very, very expensive, and you need investment and up-front capital to even consider mining. If you can’t show that you can make significant profits, you’ll never mine. [who]
The question is “what factors”, means more than 1 then. So, I would say a# and b#. They could be sold and the resource is economic enough to be mined.
That’s it. Chief has spoken. [who]
The answer is D
A) Some minerals like pentlandite or sphalerite contain specific, useful metals – nickel and zinc respectively in these cases. Other, abundant minerals such as quartz have limited usefullness. This statement is TRUE. (yes, I know quartz has uses but it’s value relative to conventional ores is very low)
B) A quick internet search will show that there are literally thousands of mine exploration companies who have found rare or semi-precious minerals but cannot sell them at a profit because they cannot extract them cheaply enough. Alternately, some otherwise valuable minerals cannot be sold due to limited market demand (rare-earth elements) or due to impurities contained within the ore. This statement is TRUE.
C) A mine can cost anywhere from $10 million to $3 billion dollars to open depending on its complexity, type and location. If you can get $1.00 of income for every pound of copper mined, then you’ll need a deposit containing many tens of millions of pounds, if not more, to make a profit. This statement is TRUE.
D) Since A, B, and C are true D is the correct answer. [who]