Mineral resource assessment and long term supply of minerals

Abstract

Mineral Resource Assessment means the estimation of a nation’s mineral resources and their classification into appropriate categories. The term resources is used to refer to quantities of foreseeable economic interest that are available for exploitation. The main objective of embarking on a mineral resource assessment programme is to plan-out the strategy for the long-term supply of minerals for existing mineral based industries taking into consideration the expansion programmes of such industries. In Sri Lanka, the mineral sector industries are broadly categorised into (a) industries based on local minerals and (b) the exploitation of minerals available locally for the export market. An attempt has been made in this paper to outline the basic principles of mineral resource assessment based on increasing degree of geological assurance and economic considerations. Such a resource classification scheme called the “Mckelvey Box” as adopted by the U. S. Bureau of Mines and the U. S. Geological Survey is attempted and the adequacy of local mineral resources to sustain mineral based / industries is described. Since mineral resources are non-renewable, the optimuny' utilization of such resources is emphasised keeping in mind the impact of exploitation on the environment.