Reproduction rate of mineral resources as the efficiency index of geological exploration

Abstract

The key indexes of growth in mineral supply of mining companies are the lifespan, availability and exhaustibility of mineral reserves. The low value of the lifespan index, or the high value of exhaustibility of reserves is the grounds for geological exploration to be carried out. The reproduction rate of mineral resources is a ratio of mined-out volume to incrementation rate of mineral resources within a reference period and is a standard indicator of geological exploration efficiency. The resources reproduction rate is applicable in the governmental control over subsoil surveying by subsoil use participants to promote effective exploration and to impose sanctions against mala fide users. The optimal reference period of the average reproduction rate is five years.