


What is the difference between resources and reserves? - Classification of Mineral Resources and Reserves
· Reserves: Commercially viable oil or gas deposit that is not yet recovered or extracted from a geological formation Production: Recovered and economic viable or commercially available oil or gas deposit extracted from any given date. Contingent resources: Potentially recoverable oil and gas deposit but are still no yet commercially available because …Mineral Reserves are those parts of Mineral Resources which, after the application of all mining factors, are the basis of an economically viable project after taking account of all relevant processing, metallurgical, economic, marketing, legal, environment, socio-economic and government factors.
