What is a Mineral Resource?

A mineral resource is a concentration of natural solid inorganic or fossilized organic material, including metals, coal and minerals in sufficient quantity and quality to have reasonable prospects for economic extraction. Mineral resources are found through exploration activities, which involve the use of geophysical tests to identify mineral deposits.

This definition has a broader scope than a mineral reserve, where there is a higher probability of economic extraction, based on a review of the technical issues, economics, and legal concerns.