How does a resource become a reserve?
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Answer:
The resource become a reserve due to the change in its utility and value. It is because the ultimate use of a mineral reserve is either to be physically worked out or made non-viable because of the changing economic, environmental, technological, and social circumstances.
Answer:
All the elements in nature which humans need and value are known as resources. They can be classified into potential and actual resources, based on their stages of development. A reserve is a portion of actual resource which can be developed profitably with the available technology.Apr 25, 2017
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What is resource and reserve?
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.
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