Proven Reserve

The economically mineable part of a measured resource, demonstrated by a study at feasibility level.

Definition

The economically mineable portion of a measured mineral resource, representing the highest level of confidence in reserve estimation. Proven reserves are suitable for detailed mine planning and financing decisions.

Why it matters

This is the highest bar in mining disclosure. Proven reserves underpin mine financing, because lenders will not fund against material that has not cleared it.

Where people go wrong

Proven does not mean guaranteed. It means the geology and the economics were both demonstrated under a specific set of price and cost assumptions, all of which can move.

See also

  • Probable Reserve — The economically mineable portion of an indicated and, in some cases, a measured mineral resource. Probable re…
  • Mineral Reserve — The economically mineable portion of a measured or indicated mineral resource, demonstrated by at least a prel…
  • Measured Resource — A mineral resource for which quantity, grade, densities, shape, and physical characteristics are estimated wit…
  • Feasibility Study — A comprehensive technical and economic study of a mineral project used to demonstrate whether the project is e…

More resource reporting terms

Copper Equivalent (CuEq)Feasibility StudyIndicated ResourceInferred ResourceMeasured ResourceMineral ReserveMineral ResourceOunce (Troy Ounce)Preliminary Economic Assessment (PEA)Probable ReserveSilver Grade (g/t)Silver Ounce Equivalent (AgEq)
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