Mention any 3 factors that determine the economic viability of a reserve
Answers
The three factors which affect the viability of a reserve are-
1. Quantity and quality of mineral concentration in ore
2. Location of mines and facility of transport
3. The cost of extraction of mineral
Three factors that determine the economic viability of a reserve:
i. The quantity and quality of mineral and their concentration in ore- Quality of mineral which is extracted from the earth surface is of low quality and the amount of minerals are also less.
ii. Cost of ore extraction- Extracting minerals from ores is a difficult process. It takes more time and people to extract minerals. It also requires expensive equipment.
iii. Mines location and transport availability- Mines are mostly located in far area form the city and transports of minerals are difficult in such area.