Section 12 in The Minerals (Evidence of Mineral Contents) Rules, 2015
12. Mineral Reserve is the economically mineable part of a Measured and Indicated Mineral Resource.
It includes diluting materials and allowances for losses, which may occur when the material is mined or extracted and is defined by studies at Pre-Feasibility or Feasibility level as appropriate that include application of Modifying Factors.Probable Mineral Reserve (121 and 122) is the economically mineable part of an Indicated, and in some circumstances, a Measured Mineral Resource.The confidence in the Modifying Factors applying to a Probable Mineral Reserve is lower than that applying to a Proved Mineral Reserve.Proved Mineral Reserve (111) is the economically mineable part of a Measured Mineral Resource. A Proved Mineral Reserve implies a high degree of confidence in the Modifying Factors.Feasibility Mineral Resource (211) A 'Feasibility Mineral Resource' is that part of Measured Mineral Resource which is not economically mineable as , defined by studies at feasibility level. This material is identified as being possibly economically viable subject to changes in technological, economic, and environmental and/or other relevant conditions.Pre-Feasibility Mineral Resource (221 and 222) A 'Prefeasibility Mineral Resource' is that part of an Indicated, and in some circumstances, Measured Mineral Resource, that has been found, by studies at Pre-feasibility level, as not economically viable. This material is identified as being possibly economically viable subject to changes in technological, economic, and environmental and/ or other relevant conditions.
