What is the difference between a reserve and a resource?

What is the difference between a reserve and a resource?

What is the difference between a reserve and a resource? A resource is that amount of a geologic commodity that exists in both discovered and undiscovered deposits—by definition, then, a “best guess.” Reserves are that subgroup of a resource that have been discovered, have a known size, and can be extracted at a profit.

What is the difference between a resource and a reserve quizlet? A resource refers to any mineral concentration that has the potential to be extracted and sold for a profit, while a reserve actually has been identified and is economical.

What is the main difference between energy reserves and energy resources? Reserves include only recoverable energy. “Resources” represent that portion of the energy that is known to exist or even suspected to exist irrespective of technical or economic viability. So reserves are a subset of resources.

How can resources be reserved? Mineral reserves (or ore reserves) are resources known to be economically feasible for extraction. Reserves are either Probable Reserves or Proved Reserves. A Probable Ore Reserve is the part of indicated, and in some circumstances, measured mineral resources that can be mined in an economically viable fashion.

What is the difference between a reserve and a resource? – Related Questions

What does reserves mean in geography?

Based upon what has been discovered and its cost of recovery, only a segment of the total resources can be considered as reserves. Thus, reserves are resources that are available under current market conditions (cost and technology). A significant amount of resources could be known to be present.

What are the examples of reserve resources?

Reserve resources are those resources which we know their use and how to use them but we have kept them for future use. For example, USA has plenty of oil and gas reserves but it imports oil and gas and has kept its own reserves for future use.

Which mineral resources are associated with magmatic differentiation?

Type deposits of iron, chromium, aluminum, and diamond that have been formed by magmatic segregation are discussed, and conditions favorable for the formation of deposits of gold, silver, lead, zinc, tin, and other rare metals as a result of extreme differentiation are given.

What are the three categories of reserves?

There are 3 main reserve categories under the Society of Petroleum Engineers (SPE) definition: proved; probable and possible reserves.

What are reserves explain with example?

The resources which are available and accessible but arent yet being used properly and are conserved and used judiciously for the future are called reserve resources. Examples are river water can be used to generate hydroelectric power but till now their use has been limited.

What does energy reserve mean?

Calculated unused physical energy sources. Source examples are coal, gas, and oil. Known to exist with reasonable certainty. Calculated on the basis of geologic and engineering data identifying proved reserves.

What are the 5 mineral resources?

Mineral resources can be divided into two major categories – Metallic and Nonmetallic. Metallic resources are things like Gold, Silver, Tin, Copper, Lead, Zinc, Iron, Nickel, Chromium, and Aluminum. Nonmetallic resources are things like sand, gravel, gypsum, halite, Uranium, dimension stone.

Why do we need to reserve resources?

Reserve resources are those which we are not extracting them at present in spite of technological availability. They are stored to meet world’s future requirements. For e.g., storage of water in the dam to meet our energy requirement (for generating electricity) of future (whole year).

What is the main reason for overuse of resources?

The increasing population is one major reason for the overuse of resources. The increase in population is multi-fold as compared to the increase in resources as they are limited. It leads to over-consumption of resources making them scarce.

What does we reserve mean?

a phrase used to tell someone that you have the right to do something specific, and that you will use that right if you feel it is necessary. “We reserve the right to enforce any and/or all legal remedies to us.”

How does a resource become a reserve Class 8?

That part of a mineral resource, which has been fully evaluated and is deemed commercially viable to work, is called a mineral reserve. Reserves will need to meet not only the requirements of geological certainty and economic viability but also accessibility based on legal permission to extract the mineral.

What is reserve in geography class 8?

A biosphere reserve is a large,protected area of land meant for the conservation of wildlife,biodiversity and the traditional lifestyles of the tribal people living in the area. A special feature of the protected areas called Biosphere reserve is that local people or tribals are an integral part of it.

What are the two major types of resources?

Anything from air to gold is all resources. Let us take a look at the two broad types of resources – natural resources and man-made resources.

What is reserve short answer?

Answer: Reserved resources are the resources that are defined and their present amount is recognized, but since they are reserved for the future, they are not being used.

What is reserve answer?

Reserves are resources which can be put into use with the help of existing technical ‘know-how’ for meeting future requirements.

Which component of magma is the highest and lowest in value?

Felsic magma has the highest silica content of all magma types, between 65-70%. As a result, felsic magma also has the highest gas content and viscosity, and lowest mean temperatures, between 650o and 800o Celsius (1202o and 1472o Fahrenheit).

What does magmatic mean?

1. molten material beneath or within the earth’s crust, from which igneous rock is formed. 2. a mixture or suspension of mineral or organic matter. [1400–50; < Latin < Greek mágma salve]

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