Table 6: Resource Life
Table 6. Average reserve life and resource life (years) for selected commodities as at December 2017
|Commodity||Operating Mines1||All Deposits|
|Ore Reserves2||Demonstrated Mineral Resources3||All Resources4||Ore Reserves5||AEDR6||All Resources7|
Reserve and resource life for each mineral commodity is calculated by dividing the inventory by production. The resulting ratio is a snapshot in time that can only be used for general impressions because it is an average and it assumes (1) that production rates in the future will remain the same as those used in the calculation, (2) deposits deemed economic/uneconomic remain so in the future and (3) that depleted resources are never replaced.
1. Operating mines includes all mines that operated during 2017 and thus contributed to production (see Table 1).
2. Ore Reserves as reported in compliance with the JORC Code, plus non-JORC Code equivalents (see Table 1).
3. Measured and Indicated Mineral Resources, inclusive of Ore Reserves, as reported in compliance with the JORC Code, plus non-JORC Code-equivalents (see Table 1).
4. All Resources for Operating Mines includes Measured, Indicated and Inferred Mineral Resources, inclusive of Ore Reserves, as reported in compliance with the JORC Code, plus non-JORC Code-equivalents (see Table 1).
5. Ore Reserves as reported in compliance with the JORC Code, plus non-JORC Code equivalents (see Table 2).
6. AEDR = Accessible Economic Demonstrated Resources (see Table 3). Figures rounded to nearest five years.
7. All Resources for All Deposits includes EDR, Subeconomic Demonstrated Resources and Inferred Resources. Figures rounded to nearest five years (see Table 3).