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Essay text:
Minerals and their use
Source: UNCTAD; PP 84
In Extractive Industries, Energy minerals such as Oil and gas and Metallic minerals such as Iron ore, Copper, Gold, Nickel, Zinc, Bauxite and others are the foremost important in this sector. Iron ore, Copper and Gold make big share of about 50% value of total metallic mineral production.The global production estimate for 2005 amounted to USD 2.3 trillion in crude oil and natural gas and USD 265 billion in Metallic minerals. There are five main stages of production in Metallic mineral industry such as exploration, development, mining, processing and mine closure and only minerals such as Gold and Platinum has almost 100% value at mining stage; and all other minerals have to go through processing stage to add value to the mineral for example Bauxite has least value at mining stage with 9% compared to other vital minerals...
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