1

I'm an investor trying to understand the technical document of a mining resource.

If a mining report listed its indicated resources as:

  • 25.59 Mt (meaning Million Tons)
  • 1711 ppm

How is the contained resource in lbs determined?

The resource is Uranium, but contained lbs should be in U3O8 as 1 lb. U in U3O8 = 1.17924 lbs. U3O8.

The report states that the contained resource is 96.5 Mlbs of U3O8 but I'm not sure how they arrived there. I am interseted in the math, not necessarily the resource in questions.

pstatix
  • 239
  • Since you tagged this [tag:Chemistry], I want to you ask are you really an investor or this is just a part of a question? – Shubham Johri May 17 '21 at 19:17
  • @ShubhamJohri Yea I have a MEng in CS, I make more money than I have bills, so I want to make that money grow outside of my lazy IRA and 401k portfolios. If you want to read about the Grade-Tonnage report, you can here. I tagged chemistry because this site doesn't let me tag algebra on its own, and that was the closest related topic. – pstatix May 17 '21 at 19:22
  • @ShubhamJohri The particular table with values is on Page 14. – pstatix May 17 '21 at 19:23
  • Cool. They have only multiplied the two quantities and converted to lbs. – Shubham Johri May 17 '21 at 19:24

1 Answers1

0

$1711$ parts per million (i.e. tons per million tons assuming weight/weight PPM) and you have $25.59$ million tons, so tons of $U_{308}$ present is $1711\times 25.59$ which is $1711\times 25.59\times 1000\text{ kg}=43.78\times10^6\text{ kg}$. Convert this to $\text{lbs}$ to get the desired value $96.53$ million tons.

Shubham Johri
  • 17,659