Resources:Reserves

[Sparty]

For quite some time I have been a bit frustrated by the USGS.gov listing of a country's minerals endowments in terms of Reserves and not really mentioning "Resources".

This is important in a country like Australia which has huge amounts of most critical metals that haven't been taken from Resources to Reserves.

Happily this issue is starting to be resolved and this article provides the current state of play: https://www.srk.com/en/publications/...ineral-reserve

"With the introduction of CRIRSCO (Committee for Mineral Reserves International Reporting Standards) template based mineral asset disclosure S-K 1300 (Regulation S-K part 1300, 2019 (S-K 1300) by the United States (US) Securities and Exchange Commission (SEC)), Mineral Resources are now required to be reported exclusive of Mineral Reserves for companies listed on the New York Stock Exchange. These ‘Exclusive Mineral Resources’, also referred to as ‘Mineral Resources additional to Mineral Reserves’, have been permitted in jurisdictions outside the US for many years." Read full article

[Sparty]

Mineral resources refer to any naturally occurring mineral deposits that have been identified and measured with reasonable certainty, but may not yet be technically or economically feasible to extract. They include both identified and potential deposits.

Mineral reserves, on the other hand, refer to the portion of mineral resources that have been identified and proven to be economically and technically feasible to extract under existing market and operating conditions. In other words, they are the economically viable portion of a mineral deposit that can be extracted with a reasonable degree of certainty.

In summary, mineral resources include all known mineral deposits regardless of their economic viability, while mineral reserves refer to the portion of mineral resources that can be economically extracted with reasonable certainty.