The Elements of Innovation Discovered
The Elements of Innovation Discovered
Metal Tech News - December 11, 2024
Powered by the Colorado School of Mines' proprietary datasets, the new mineral reserves analytics tool provides quick and easy insights into global mineral reserves and production costs.
A new online mineral reserve analytics tool launched by the Payne Institute for Public Policy (Payne) at the Colorado School of Mines (Mines) offers a surprisingly in-depth look into the current and future supplies of minerals and metals when you consider how intuitive the dashboard is to use and the ease of grasping the data presented with graphs and other visuals.
The initial dashboard provides in-depth insights into the verified reserves of seven metals – cobalt, copper, gold, iron ore, nickel, and tin – in 72 countries.
Opening the dashboard of the mineral reserve analytics tool.
Similar analytics tools covering critical minerals, mineral intensity of key energy technologies, and implied mineral demand based on different energy scenarios are under development.
The user-friendly analytics tool allows investors, policymakers, and others seeking information on global metals markets to quickly and easily collect data on the mineral reserves and costs to produce these metals globally, by country, or even by individual project.
The ease of using the dashboard to visualize where in the world the metals are mined, along with deposit-specific information on the costs of delivering metals to market, belies the robust nature of Mine's proprietary datasets that the tool is built upon.
"We are making these tools available to help inform investment and policy decision making," said Morgan Bazilian, director of the Payne Institute. "A clear understanding of critical mineral availability and cost are key factors for both energy and national security. Mines is uniquely positioned to offer such insights."
Instructions button makes learning how to use the intuitive tool quick and easy.
The intuitive design of the minerals and metals analytical tools can be largely attributed to the Mineral and Energy Economics program at Mines students who collaborated with Payne to develop it.
"The work our students have undertaken to provide mineral cost, and availability is phenomenal," said Ian Lange, Viola Vestal Coulter Chair in Mineral Economics. "We are proud to offer it to policymakers around the world to improve their understanding of mineral markets."
Payne expects the energy minerals and other analytical tools to be released in the coming months.
With more than 16 years of covering mining, Shane is renowned for his insights and and in-depth analysis of mining, mineral exploration and technology metals.
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