Introduction - Metals and Society: An Introduction to Economic Geology - page 12

Box 1.4 Selection of a Mining Property
Imagine that you are the director of a mining company and that a prospector
comes to you with the following list of properties. You have to decide which
is the most attractive target for development in the coming 5-10 years.
1. A deposit of ten million tonnes with 0.2% Cu near Timmins in Canada
2. A deposit of one million tonnes with 1% Cu near Timmins
3. A deposit of ten million tonnes with 2% Cu at Daneborg on the northeast
coast of Greenland
4. A deposit of ten million tonnes with 5% Cu in the northeast of Pakistan
5. A deposit of five million tonnes with 1% Cu near Timmins
6. A deposit of 100 million tonnes with 0.7% Cu near Timmins
7. A deposit of 100 million tonnes with 0.7% Cu on the Larzac plateau,
France
Response
You see that the list comprises seven hypothetical copper deposits that are
distinguished by their size, their grade, and their location. To make a choice,
it is easiest to start by eliminating the properties that are the least attractive,
either because their size or grade, or because they are located in inhospitable
regions. To help with the choice, you will recall that in the previous section
we said that the average grade of mined copper is about 0.7% and that a
normal deposit contains 100s of millions of tons of ore. With this information
we can eliminate deposit number 1, whose grade is too low, and deposit
number 2, which is far too small. The deposit at Daneborg, situated on the
east coast of Greenland some 500 km north of the Arctic circle, is unattractive
because of its small size and its location far from centres of industry in a
region with extreme climate*. Given the state of war that exists in the “tribal
areas” of northern Pakistan (number 4), no responsible mining company
would consider developing a deposit in that region.
This leaves the last three deposits. The Larzac plateau is the home of Jos ´
Bov ´ , the radical French farmer and professional protestor who rose to fame
when he tore the roof off a Macdonald's restaurant. As a passionate anti-
capitalist and fierce opponent of the exploration for shale gas, it is most
unlikely that he would permit a large copper mine to open on the farm
where he produces his roquefort.
The only two that remain, deposits 5 and 6, are in northern Ontario, a
region with a long mining history and a political climate favourable to
mining. To distinguish between these two we need only consider the amount
of copper in each deposit. Deposit 5 contains 50,000 t; deposit 6 contains
700,000 t. The much larger amount of metal in the latter deposit would offset
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