RESOURCE SECURITY key terms

Question 1

Resource

Answer 1

any aspect of the natural environment with economic value that can be used to meet human needs

Question 2

Resource security

Answer 2

the ability of a country to safeguard a reliable and sustainable flow of resources to maintain living standards while ensuring ongoing development

Question 3

Stock resource

Answer 3

a non-renewable resource that can be permanently expended
- quantity is expressed in absolute amounts

Question 4

A flow resource

Answer 4

renewable and can be replaced
- commonly expressed in annual rates of regeneration

Question 5

A critical flow resource

Answer 5

a resource that is only renewable if human use remains at or below its capacity to regenerate
- can be exhausted if poorly managed e.g. wood

Question 6

Non-critical flow resources

Answer 6

everlasting and cannot be depleted e.g. wind

Question 7

Reserve

Answer 7

Part of a resource that is available for use under existing economic and political conditions with available technology

Question 8

Measured reserve

Answer 8

When there is high confidence in their presence and well-established assurance in their:
- Quantity (tonnage)
- Grade (quality)
- Density
- Physical characteristics

Question 9

Proven reserve

measured reserve

Answer 9

if a measured reserve is deemed economically viable

Question 10

Indicated reserve

Answer 10

When there is an estimated presence with enough confidence to allow evaluation of economic viability

Question 11

Probable reserve

indicated reserve

Answer 11

When there is a degree of assurance high enough in an indicated reserve to support feasibility studies into exploitation of the reserve

Question 12

Inferred resource

Answer 12

when the presence of a resource is estimated based on assumptions that existing deposits are continuous

Question 13

Possible reserve

inferred reserves

Answer 13

for inferred reserves there is insufficient information to estimate the quantity or quality so viability for mining is not validated

Question 14

Possible resource

Answer 14

Currently undiscovered resources

Question 15

Hypothetical resources

Answer 15

undiscovered materials that are reasonably expected to exist in known mining regions under known geological conditions

Question 16

Speculative resources

Answer 16

undiscovered materials that may occur in known types of deposits in geological settings where no previous discoveries have been made

Question 17

Exploration

Answer 17

the process of searching an area to find and map natural resources

Question 18

Exploitation

Answer 18

the action of using natural resources to their fullest or for the most profitable use

Question 19

Stock resource evaluation

Answer 19

carried out in order to evaluate a stock resource in terms of the confidence in resources/reserves available for exploitation

Question 20

Recoverable reserves

Answer 20

the amounts of a resource likely to be extracted for commercial use within a certain time period and at a certain level of technology

Question 21

Resource frontier

Answer 21

An area where resources are brought into production for the first time

Question 22

Resource peak

Answer 22

The time of the maximum rate of production of a resource from a reserve or whole resource

Question 23

Supply side management

Answer 23

seeking methods to increase the supply of resources

Question 24

Demand side management

Answer 24

reducing consumption at all scales

Question 25

Resource depletion

Answer 25

When a resource is consumed faster than it is replenished

Question 26

Environmental impact assessment (EIA)

Answer 26

Used to identify and understand the environmental consequences of a proposed project

Question 27

Cost-benefit analysis

Answer 27

A systematic analysis of the advantages and disadvantages likely to result from a development project where an objective value is allocated to all economic, social and environmental aspects