PrintLesson 3.2: Reserve Estimation
Reserve estimation can be addressed in two steps.
The first is to calculate the tonnage of the orebody, along with other characteristics of the resource. For a coal deposit, for example, we would calculate the average value for the following parameters: seam thickness, % ash, % sulfur, and BTU (calorific value); and for a metal deposit, we’d calculate the grade. There are other characteristics that would be of interest, depending on the commodity and its market. The calculations are similar regardless of the specific characteristic.
The second is to determine how much of the resource can be mined economically at a point in time. By the way, “at a point in time” usually means using today’s technologies and practices.
Let’s take these in order, starting with the first step.