What is a Mineral Resource?

A mineral resource is a concentration of natural solid inorganic or fossilized organic material, including metals, coal and minerals in sufficient quantity and quality to have reasonable prospects for economic extraction. Mineral resources are found through exploration activities, which involve the use of geophysical tests to identify mineral deposits.

This definition has a broader scope than a mineral reserve, where there is a higher probability of economic extraction, based on a review of the technical issues, economics, and legal concerns.

Examples of Mineral Resources

Here are several examples of mineral resources:

Iron ore. Used in steel production for construction, machinery, and transportation.
Copper. Used in electrical wiring, plumbing, and electronics due to its excellent conductivity.
Bauxite. The primary ore of aluminum, used in construction, packaging, and transportation.
Gold. Valued for jewelry, electronics, and as a financial reserve.
Silver. Used in electronics, jewelry, photography, and solar panels.
Lead. Used in batteries, radiation shielding, and some types of glass.
Nickel. Essential for stainless steel, batteries, and other alloys.
Zinc. Used to galvanize steel, in batteries, and in health products.
Limestone. Used in cement, concrete, and as a soil conditioner.
Phosphate. Used as fertilizer in agriculture and in some industrial products.
Lithium. Critical for rechargeable batteries in electronics and electric vehicles.
Cobalt. Used in rechargeable batteries and alloy production.
Uranium. Used primarily for nuclear power generation.
Gypsum. Used in drywall, plaster, and fertilizers.
Rare earth elements. Essential for electronics, magnets, and clean energy technology.