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Home Investor Relations Glossary
Adit A type of entrance to an underground mine which is horizontal or nearly horizontal, usually built into the side of a hill or mountain.
Ball Mill A rotating cylindrical mill that uses heavy iron balls to grind ore into fine particle powder.
Beneficiation A process of crushing and separating ore into valuable substances or waste.
Category 332 A term defined under the PRC Resources/Reserves Categories (中國固體礦產資源╱儲量分類) (1999), a three-digit code system. Category 332 means the deposit is intrinsically economically viable, has had geological studies carried out and is reasonably understood geologically.
Concentrate A powdery product containing an upgraded mineral content resulting from initial processing of mined ore to remove some waste materials. A concentrate is an intermediary product, which is subject to further processing, such as smelting, to effect recovery of metal.
Dilution The reduction of grade for mined ore due to the inclusion of waste material in the mined ore.
Drilling A technique or process of making a circular hole in the ground with a drilling machine, which is typically used to obtain a cylindrical sample of ore. Alternatively, blast hole drilling is where the drilling technique is used to create a hole to house an explosive charge in preparation for blasting a zone of rock.
Exploration Activity to prove the location, volume and quality of an ore body.
Flotation A process by which some mineral particles are induced to become attached to bubbles of froth and float, and others to sink, so that the valuable minerals are concentrated and separated from the remaining rock or mineral material.
Grade The concentration, commonly expressed as percentage or grams per tonne, of useful elements, minerals or their components in any ore or concentrate.
Gravity-Selection A mineral process using shaking tables to separate useful mineral from gangue in crushed or ground ore based on differences in their density.
Indicated
Resources
Mineral resource that has been sampled by drill holes or other sampling procedures at locations too widely spaced to ensure continuity, but close enough to give a reasonable indication of continuity and where geoscientific data are known with a reasonable level of reliability, as defined by the JORC Code.
Inferred Resources Mineral resource that has geoscientific evidence from drill holes or other sampling procedures such that continuity cannot be predicted with confidence and where geoscientific data may not be known with a reasonable level of reliability, as defined by the JORC Code.
JORC The Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy.
JORC Code The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (2004 edition), as published by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy and used to determine resources and reserves, as amended from time to time.
Mineralization An area with discontinuous distribution belts of mineralization, including the occurrence of deposits, mine sites and alteration of waste rock, as exploration indicators and under control of same geology conditions. It is a key zone for estimation and further planning of exploration of minerals.
Mineral Deposit A body of mineralization containing a sufficient average grade of metal or metals to warrant further exploration and/or development expenditure. A deposit may not have a realistic expectation of being mined, therefore it may not be classified as a resource or a reserve.
Mineral Resource A concentration or occurrence of material of intrinsic economic interest in or on the earth’s crust in such form, quality and quantity that there are reasonable prospects for eventual economic extraction, as defined in the JORC Code. The location, quantity, grade, geological characteristics and continuity of a mineral resource are known, estimated or interpreted from specific geological evidence and knowledge. Mineral resources are sub-divided, in order of increasing geological confidence, into “inferred”, “indicated”, and “measured” categories.
Mining Loss That part of an ore reserve which is not recovered during the mining process.
Mining Rights The rights to mine mineral resources and obtain mineral products in areas where mining activities are licensed.
Non-Ferrous
Metals
Metals other than iron, manganese and chromium and alloys that do not contain appreciable amounts of iron, manganese or chromium.
Ounce Troy ounce(s), a unit of weight. One troy ounce equals 31.10348 grams.
Panel Ramp An inclined shaft used to transport workers, materials and ore to and from the underground working area in a mine.
Probable Reserves The economically mineable part of an indicated, and in some circumstances, a measured mineral resource, as defined by the JORC Code. It includes diluting materials and allowances for losses which may occur when the material is mined.
Processing The process which in general refers to the extraction of usable portions of ore by using physical and chemical methods.
Proved Reserves The economically mineable part of a measured mineral resource, as defined by the JORC Code. It includes diluting materials and allowances for losses which may occur when the material is mined.
Pure Mining
Company
The mining company which only conducts upstream operations in exploration, mining and primary processing of mineral resources with no downstream operations in smelting, refining and others.
Recovery Rate The percentage of valuable mineral resource that is able to be recovered from mining and processing activities.
Reserve The economically mineable part of a measured and/or indicated mineral resource, as defined by the JORC Code. It includes diluting materials and allowances for losses which may occur when the material is mined. Appropriate assessments and studies have been carried out, and include consideration of and modification by realistically assumed mining, metallurgical, economic, marketing, legal, environmental, social and governmental factors. These assessments demonstrate at the time of reporting that extraction could reasonably be justified. Ore reserves are subdivided, in order of increasing geological confidence, into probable reserves and proved reserves.
Smelting A pyro-metallurgical process of separating metal by fusion from those impurities with which it is chemically combined or physically mixed.
Tailings Waste materials that are produced after processing of ore for extracting target minerals.
Vein A tabular mass of minerals formed by fracture filling or replacement of host rock.

Disclaimer: The above glossary table provides general information and serves reference purpose only. Actual meanings of the glossaries should be read in conjunction with the specific document(s) or context.