Minerals are the backbone of industrialisation. Justify this statement.
Answers
Answer:
Explanation:
The commercial and economic aspects are not in the hands of the investor and mainly rely on global market scenario. The feasibility analysis can indicate conversion of mineral resource to marketable commodity with adequate return on investment. The mineral resources are made ready for the end users by four well-defined processes, namely, exploration, development, production and extraction. The investment decision for each stage spins around interrelated components of “Resource”, “Risk” and “Revenue
Most of the important minerals such as iron, manganese, copper, iodine, zinc, cobalt, fluoride and selenium have high rates and they are ideal buisness.
The production and consumption of minerals are one of the most significant measures of the level of industrialisation and economic growth of a country.