4. Determine a) the content (%) of the element ofinterest contained in the follo

Question

4. Determine a) the content (%) of the element ofinterest contained in the following minerals and b) the total value of a 100,000 short ton ore reserve for each mineral (requires looking up market prices; provide a reference for your market price) assuming a mineral content of 1% for each source: Example: a.) Research which element is of economic interest and reference slides to calculate content as a percentage b) Assume 1% of your tonnage is the mineral listed. Look up market price. May need to convert market price units (tons to oz) a. Ores: Chalcocite (C2S) and Cassiterite (SnO2)

Explanation / Answer

STEP 1: (a)

Composition of Chalcocite ore:-

Molecular weight = 159.16, Copper content = 79.85 % Cu, Sulfur content = 20.15% S

Environment: Secondary mineral in or near the oxidised zone of copper sulfide deposit.

Composition of Casseterite ore:-

Molecular weight = 150.7 gm, Tin content = 78.77% Sn , Oxygen content = 21.23 % O2

Environment: Granite pegmatites and alluvial placer deposits.

STEP 2: (b)

1 tone = 32000 oz

the latest market price of Copper on 13 sept, 2018 is 5990.60 USD per ton

i.e. 5990.60 ÷ 32000 = 0.1872065 USD per oz

the latest market price of Tin on 13 sept, 2018 is 19055 USD per ton

i.e. 19055 ÷ 32000 = 0.59546875 USD per oz

STEP 3:

The element Tin in Cassiterite ore has more higher economic interest than Copper in Chalcocite ore bacause the current market price of Tin is higher.

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