An example of a material which has been both a resource and a reserve,depending on abundance,economic conditions,and mining technology is which of the following?
A) platinum
B) gold
C) petroleum
D) iron
E) all of these

Question

Quizplus · Accepted Answer

All of these materials (platinum, gold, petroleum, and iron) have been both a resource and a reserve depending on abundance, economic conditions, and mining technology. For example, gold was once abundant and easily accessible in surface deposits, making it a resource, but as those deposits were depleted, new mining technologies allowed previously uneconomical gold deposits to become reserves, like those found in deep underground mines or extracted from refractory deposits using cyanide leaching. Similarly, petroleum was once a resource in places like Pennsylvania where oil seeped naturally to the surface, but today, it is a reserve that requires advanced technologies like hydraulic fracturing to extract from shale reservoirs.

An Example of a Material Which Has Been Both a Resource