Question

As per classification of mineral resources, “reserve” means

• A. Identified resources
• B. Identified and techno-economically viable resources
• C. Hypothetical resources
• D. Inferred resources

Hint:

Reserves are a subset of mineral resources that are confirmed by detailed exploration and feasibility studies to be economically and technically extractable.

Answer 1

The Correct Option is B

In the classification of mineral resources, a "reserve" refers to a subset of identified mineral resources that are not only discovered but also evaluated to be economically and technically feasible to extract under existing conditions. This means they have undergone sufficient geological and engineering studies to confirm their viability. Other options such as “hypothetical” or “inferred” resources have not yet been verified with enough data, and thus do not meet the criteria to be classified as reserves.