Infographic: The Mineral Exploration Roadmap
Connect with us

Mining

The Mineral Exploration Roadmap

Published

on

The Mineral Exploration Roadmap

Mineral Exploration Roadmap

There is nothing more exciting than making some type of discovery.

Discoveries can come in many forms – they can be physical, scientific, personal, or even philosophical in nature. But while there are different types of discoveries that can be made, perhaps the most tactile kind of discovery is in the field of mineral exploration.

The discovery of a mineral deposit can transform a piece of “moose pasture” into a new economic asset, and it may enable millions or billions of dollars worth of metals and minerals to be used for human purposes.

These minerals get used all around us – they go into our houses, cars, infrastructure, jewelry, electronics, and they can even be used to power the green revolution.

From Prospecting to Production

Making an economic mineral discovery is the goal of many teams around the world, but these efforts can also be extremely difficult, costly, and time-consuming, and most companies engaged in exploration end up walking away empty-handed.

Today’s infographic comes to us from Orix Geoscience and it shows the steps of mineral exploration, and how teams can maximize their odds of success by using data to add value throughout the process.

Steps of the Mineral Exploration Process

1. Exploration Strategy

Where do you choose to explore? There are two basic strategies:

(a) Working from the known
Deposits tend to form in clusters in prolific belts, and exploration occurs outward from known mineralization.

(b) Working from the unknown
If you review all available information, prospective areas with potential for discoveries can be identified.

2. Prospecting

In this stage, boots are now on the ground – and it’s time to explore the backwoods for showings. Prospectors will stake claims, map outcrops and showings, and search for indicator minerals.

The goal of the prospecting stage is to find the earliest piece of the exploration puzzle: the clue that there is something much bigger beneath.

3. Early-Stage Exploration

Congrats, you’ve found something interesting – and now it’s time to ramp up exploration efforts!

This is where the amount of data and sophistication picks up. In this stage, companies are using existing maps and historical data, geophysics, ground truthing, geochemistry, and trenching to try and identify drill targets.

4. The “Truth Machine”

Geologists don’t call the drill a “truth machine” for nothing.

If you’re target hits, you’re in business. If your target misses, it’s time to go back a step and find new ones.

5. Discovery

Eureka! You’ve found something. Now it’s time to see how far the mineralization goes!

Once you have enough information, you can get an official resource estimate. This data is another puzzle piece that will be crucial as you advance your discovery.

6. De-risking

Even at the best of times, mining can be expensive, risky, and tricky.

That’s why your investors and backers will want you to source even more data – it’ll allow you to see a clearer picture of the deposit, and help your team see how it could take shape as a mine.

At this stage, drilling, metallurgical tests, environmental assessments, 3d models, and mine designs are used to increase confidence in the project.

Data starts to get very granular. Your company may do a Preliminary Economic Assessment (PEA) to assess the potential economic outcomes of a mine. Then after, they may conduct an in-depth Feasibility Study to help make a production decision.

Final Steps

By this point, you may have all the puzzle pieces – a clear vision of the deposit and its potential – to make a decision!

If the puzzle looks good, it’s time to make a production decision, construct the mine, and start commercial production. But the data doesn’t stop there – at these later stages, even more data gets created and it can help you make better decisions.

Subscribe to Visual Capitalist
Click for Comments

Energy

The Top 10 Biggest Companies in Brazil

What drives some of the world’s emerging economies? From natural resources to giant banks, here are the top 10 biggest companies in Brazil.

Published

on

The Top 10 Biggest Companies in Brazil Oct 10 Share

The Top 10 Biggest Companies in Brazil

In 2009, the at-the-time emerging economies of Brazil, Russia, India, and China held their first formal summits as members of BRIC (with South Africa joining in 2010).

Together, BRICS represents 26.7% of the world’s land surface and 41.5% of its population. By GDP ranking, they’re also some of the most powerful economies in the world.

But what drives their economies? We’re highlighting the top 10 biggest companies in each country, starting with Brazil.

What Are the Biggest Public Companies in Brazil?

Brazil isn’t just one of the largest and most diverse countries in the world, it is also an economic powerhouse.

With over 213 million people, Brazil is the sixth most populous country on Earth and the largest in Latin America. It’s also the wealthiest on the continent, with the world’s 12th-largest economy.

Once a colony focused on sugar and gold, Brazil rapidly industrialized in the 20th century. Today, it is a top 10 exporter of industrial steel, with the country’s economic strength coming chiefly from natural resources and financials.

Here are Brazil’s biggest public companies by market capitalization in October 2021:

Top 10 Companies (October 2021)CategoryMarket Cap (USD)
ValeMetals and Mining$73.03B
Petróleo BrasileiroOil and Gas$69.84B
AmbevDrinks$43.87B
Itaú UnibancoFinancial$41.65B
Banco BradescoFinancial$34.16B
WEGIndustrial Engineering$29.43B
BTG PactualFinancial$25.01B
Banco Santander BrasilFinancial$24.70B
Rede D’Or Sao LuizHospital$23.79B
XP Inc.Financial$22.45B

At the top of the ranking is Vale, a metals and mining giant that is the world’s largest producer of iron ore and nickel. Also the operator of infrastructure including hydroelectricity plants, railroads, and ports, It consistently ranks as the most valuable company in Latin America.

Vale and second-ranking company Petróleo Brasileiro, Brazil’s largest oil producer, were former state-owned corporations that became privatized in the 1990s.

Finance in Brazil’s Top 10 Biggest Companies

Other than former monopolies, the top 10 biggest companies in Brazil highlight the power of the banking sector.

Five of the 10 companies with a market cap above $20 billion are in the financial industry.

They include Itaú Unibanco, the largest bank in the Southern Hemisphere, and Banco Santander Brasil, the Brazilian subsidiary of Spanish finance corp.

Another well-known subsidiary is brewing company Ambev, which produces the majority of the country’s liquors and also bottles and distributes PepsiCo products in much of Latin America. Ambev is an important piece of Belgian drink juggernaut Anheuser-Busch InBev, which is one of the world’s largest 100 companies.

Noticeably missing from the top 10 list are companies in the agriculture sector, as Brazil is the world’s largest exporter of coffee, soybeans, beef, and ethanol. Many multinational corporations have Brazilian subsidiaries or partners for supply chain access, which has recently put a spotlight on Amazon deforestation.

What other companies or industries do you associate with Brazil?

Correction: Two companies listed had errors in their market cap calculations and have been updated. All data is as of October 11, 2021.

Continue Reading

Mining

All the Metals We Mined in One Visualization

From iron ore to rare earths, over 3 billion tonnes of metals are mined each year. This chart shows them all on a relative scale.

Published

on

All the Metals We Mined in One Visualization

This was originally posted on Elements. Sign up to the free mailing list to get beautiful visualizations on natural resource megatrends in your email every week.

Metals are all around us, from our phones and cars to our homes and office buildings.

While we often overlook the presence of these raw materials, they are an essential part of the modern economy. But obtaining these materials can be a complex process that involves mining, refining, and then converting them into usable forms.

So, how much metal gets mined in a year?

Metals vs Ores

Before digging into the numbers, it’s important that we distinguish between ores and metals.

Ores are naturally occurring rocks that contain metals and metal compounds. Metals are the valuable parts of ores that can be extracted by separating and removing the waste rock. As a result, ore production is typically much higher than the actual metal content of the ore. For example, miners produced 347 million tonnes of bauxite ore in 2019, but the actual aluminum metal content extracted from that was only 62.9 million tonnes.

Here are all the metals and metal ores mined in 2019, according to the British Geological Survey:

Metal/OreQuantity Mined (tonnes)% of Total
Iron Ore3,040,000,00093.57%
Industrial Metals207,478,4866.39%
Technology and Precious Metals1,335,8480.04%
Total3,248,814,334100%

Miners produced roughly three billion tonnes of iron ore in 2019, representing close to 94% of all mined metals. The primary use of all this iron is to make steel. In fact, 98% of iron ore goes into steelmaking, with the rest fulfilling various other applications.

Industrial and technology metals made up the other 6% of all mined metals in 2019. How do they break down?

Industrial Metals

From construction and agriculture to manufacturing and transportation, virtually every industry harnesses the properties of metals in different ways.

Here are the industrial metals we mined in 2019.

MetalQuantity Mined (tonnes)% of Total
Aluminum62,900,00030%
Manganese Ore56,600,00027%
Chromium Ores and Concentrates38,600,00019%
Copper20,700,00010%
Zinc12,300,0006%
Titanium (Titanium Dioxide Content)6,300,0003%
Lead4,700,0002%
Nickel2,702,0001%
Zirconium Minerals (Zircon)1,337,0001%
Magnesium1,059,7361%
Strontium220,0000.11%
Uranium53,4000.03%
Bismuth3,7000.002%
Mercury2,4000.001%
Beryllium2500.0001%
Total207,478,486100%

Percentages may not add up to 100 due to rounding.

It’s no surprise that aluminum is the most-produced industrial metal. The lightweight metal is one of the most commonly used materials in the world, with uses ranging from making foils and beer kegs to buildings and aircraft parts.

Manganese and chromium rank second and third respectively in terms of metal mined, and are important ingredients in steelmaking. Manganese helps convert iron ore into steel, and chromium hardens and toughens steel. Furthermore, manganese is a critical ingredient of lithium-manganese-cobalt-oxide (NMC) batteries for electric vehicles.

Although copper production is around one-third that of aluminum, copper has a key role in making modern life possible. The red metal is found in virtually every wire, motor, and electrical appliance in our homes and offices. It’s also critical for various renewable energy technologies and electric vehicles.

Technology and Precious Metals

Technology is only as good as the materials that make it.

Technology metals can be classified as relatively rare metals commonly used in technology and devices. While miners produce some tech and precious metals in large quantities, others are relatively scarce.

MetalQuantity Mined in 2019 (tonnes)% of Total
Tin305,00023%
Molybdenum275,00021%
Rare Earth Elements220,00016%
Cobalt123,0009%
Lithium97,5007%
Tungsten91,5007%
Vanadium81,0006%
Niobium57,0004%
Cadmium27,5002%
Tantalum27,0002%
Silver26,2612%
Gold3,3500.3%
Indium8510.06%
Platinum Group Metals4570.03%
Gallium3800.03%
Rhenium490.004%
Total1,335,848100.00%

Percentages may not add up to 100 due to rounding.

Tin was the most-mined tech metal in 2019, and according to the International Tin Association, nearly half of it went into soldering.

It’s also interesting to see the prevalence of battery and energy metals. Lithium, cobalt, vanadium, and molybdenum are all critical for various energy technologies, including lithium-ion batteries, wind farms, and energy storage technologies. Additionally, miners also extracted 220,000 tonnes of rare earth elements, of which 60% came from China.

Given their rarity, it’s not surprising that gold, silver, and platinum group metals (PGMs) were the least-mined materials in this category. Collectively, these metals represent just 2.3% of the tech and precious metals mined in 2019.

A Material World

Although humans mine and use massive quantities of metals every year, it’s important to put these figures into perspective.

According to Circle Economy, the world consumes 100.6 billion tonnes of materials annually. Of this total, 3.2 billion tonnes of metals produced in 2019 would account for just 3% of our overall material consumption. In fact, the world’s annual production of cement alone is around 4.1 billion tonnes, dwarfing total metal production.

The world’s appetite for materials is growing with its population. As resource-intensive megatrends such as urbanization and electrification pick up the pace, our material pie will only get larger.

Continue Reading

Subscribe

Popular