Question

Mention any 3 factors that determine the economic viability of a reserve

Answer 1

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

Answer 2

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.