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Ore
Ore
Ore
An ore is a type of rock that contains minerals with important elements
including metals. The ores are extracted through mining; these are then
refined to extract the valuable element(s). An economic definition is:
Ore is a mineral that can be mined at a profit.
The grade or concentration of an ore mineral, or metal, as well as its
form of occurrence, will directly affect the costs associated with
mining the ore. The cost of extraction must thus be weighted against
the contained metal value of the rock to determine what ore can be Iron ore (Banded iron formation)
profitably extracted and what ore is of too low a grade to be worth
mining. Metal ores are generally oxides, sulfides, silicates, or "native"
metals (such as native copper) that are not commonly concentrated in
the Earth's crust or "noble" metals (not usually forming compounds)
such as gold. The ores must be processed to extract the metals of
interest from the waste rock and from the ore minerals. Ore bodies are
formed by a variety of geological processes. The process of ore
formation is called ore genesis.
Ore deposits
An ore deposit is an accumulation of ore. This is distinct from a
Manganese ore
mineral resource as defined by the mineral resource classification
criteria. An ore deposit is one occurrence of the particular ore type.
Most ore deposits are named according to either their location (for
example, the Witswatersrand, South Africa), or after a discoverer (e.g.
the kambalda nickel shoots are named after drillers), or after some
whimsy, an historical figure, a prominent person, something from
mythology (phoenix, kraken, serepentleopard, etc.) or the code name of
the resource company which found it (e.g. MKD-5 is the in-house
name for the Mount Keith nickel ).
Nickel-cobalt-platinum deposits
Volcanic-related deposits
Metamorphically reworked deposits Cart for carrying ore from a mine on display at
the Historic Archive and Museum of Mining in
• Podiform serpentinite-hosted paramagmatic iron oxide-chromite
Pachuca, Mexico.
deposits, typified by Savage River, Tasmania iron ore, Coobina
chromite deposit
• Broken Hill Type Pb-Zn-Ag, considered to be a class of reworked SEDEX deposits
Ore 3
Sedimentary deposits
Astrobleme-related ores
• Sudbury Basin nickel and copper, Ontario, Canada
Extraction
The basic extraction of ore deposits follows the steps below;
1. Prospecting or exploration to find and then define the extent and value of
ore where it is located ("ore body")
2. Conduct resource estimation to mathematically estimate the size and grade
Some ore deposits in the world
of the deposit
3. Conduct a pre-feasibility study to determine the theoretical economics of
the ore deposit. This identifies, early on, whether further investment in
estimation and engineering studies is warranted and identifies key risks
and areas for further work.
4. Conduct a feasibility study to evaluate the financial viability, technical and
financial risks and robustness of the project and make a decision as
Some additional ore deposits in the world
whether to develop or walk away from a proposed mine project. This
includes mine planning to evaluate the economically recoverable portion
of the deposit, the metallurgy and ore recoverability, marketability and payability of the ore concentrates,
engineering, milling and infrastructure costs, finance and equity requirements and a cradle to grave analysis of the
possible mine, from the initial excavation all the way through to reclamation.
5. Development to create access to an ore body and building of mine plant and equipment
6. The operation of the mine in an active sense
Ore 4
7. Reclamation to make land where a mine had been suitable for future use
Trade
Ores (metals) are traded internationally and comprise a sizeable portion
of international trade in raw materials both in value and volume. This
is because the worldwide distribution of ores is unequal and dislocated
from locations of peak demand and from smelting infrastructure.
Most base metals (copper, lead, zinc, nickel) are traded internationally
on the London Metal Exchange, with smaller stockpiles and metals Ore and metal imports in 2005
exchanges monitored by the COMEX and NYMEX exchanges in the
United States and the Shanghai Futures Exchange in China.
Iron ore is traded between customer and producer, though various benchmark prices are set quarterly between the
major mining conglomerates and the major consumers, and this sets the stage for smaller participants.
Other, lesser, commodities do not have international clearing houses and benchmark prices, with most prices
negotiated between suppliers and customers one-on-one. This generally makes determining the price of ores of this
nature opaque and difficult. Such metals include lithium, niobium-tantalum, bismuth, antimony and rare earths. Most
of these commodities are also dominated by one or two major suppliers with >60% of the world's reserves. The
London Metal Exchange aims to add uranium to its list of metals on warrant.
The World Bank reports that China was the top importer of ores and metals in 2005 followed by the USA and Japan.
License
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