Energy and natural resources
Ore grade
How much metal a tonne of ore contains.
Last reviewedWhat does Ore grade mean?
Ore grade is the concentration of a metal in the rock that is mined, shown as a percentage for base metals such as copper or iron, and in grams per tonne for precious metals such as gold. Example: 1 million tonnes of ore at 0.6 percent copper contains 6,000 tonnes of copper. Grade drives cost: at half the grade, a mine must dig and process twice the rock to get the same metal. Grades at many older copper mines have been falling, which pushes up costs and is a reason new supply is hard to add.
Where does it come up in case interview prep?
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