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Careful when talking about mineral resources. It's not a matter of throwing around textbook phrases about how common something is in the Earth's crust. Mining
by JoeAltmaier 2y ago
Careful when talking about mineral resources. It's not a matter of throwing around textbook phrases about how common something is in the Earth's crust.
Mining is always, always, always about the economics. How concentrated; how accessible by road; how easy to extract; distance to refineries; cost of building and transporting people and supplies to the mine. Even, affect on prices once the mine starts delivering! A mine can deliver so much it deflates prices and drives itself out of business.
Lots of everything, everywhere. But to build a mine, you have to ask a mining engineer, and they measure if it's worth anybody's effort.
- coldtea 2y ago>A mine can deliver so much it deflates prices and drives itself out of business. Couldn't the owners just ...hoard the extra/throttle the delivery of the supefluous amount to keep prices up?
- dflock 2y agoYes, but... storing stuff costs money, keeping a mine open and unflooded, etc... costs money, even if you're not doing any mining, etc... Also markets will adjust prices if they know about your stockpile, too.
- mwigdahl 2y agoDe Beers has entered the chat...
- permo-w 2y agothis is what OPEC does with oil
- kristofferR 2y agoIt's relatively central: https://akamai.vgc.no/v2/images/9fdc0877-a37a-4bf1-ba64-6185af28728d?format=auto&w=720&s=99f85382a3eafb2a5ccb78e0a26051690d767f5e https://akamai.vgc.no/v2/images/9fdc0877-a37a-4bf1-ba64-6185... https://maps.app.goo.gl/92bDQtmUkf7ZyJYZ6 https://maps.app.goo.gl/92bDQtmUkf7ZyJYZ6