Define "resource potential" in the context of mineral resources. Why does a high mineral potential not always lead to mineral development?
Answer
Resource potential is the estimated amount of mineral that can be extracted economically and technically from a deposit. A high potential may not lead to development because of factors such as lack of infrastructure, environmental concerns, market price fluctuations, political instability, or lack of investment.
Step-by-step solution
- Explain that resource potential refers to the quantity of ore that can be mined profitably.
- State that economic feasibility is required for development.
- Mention other limiting factors: infrastructure, environmental impact, market prices, political or social issues.
- Conclude that high potential alone does not guarantee extraction.
- Provide final definition and reasons in concise form.
Common mistake: Assuming potential equals actual production
Concept tested: Mineral resource potential vs development
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