“…However, Zimmermann pointedly stated in 1951: “resources are not, they become; they are not static, but expand and contract in response to human wants and human actions”. Indeed, reported global resources and reserves of many commodities continue to grow, despite accelerating extraction rates. ,, That reserves are inherently dynamic is illustrated by two examples: first, mine life cycle disruptions such as bankruptcy can unexpectedly and instantaneously “erase” a company’s reserves, reducing national (and global) reserve totals; and second, more efficient technology can turn previously subeconomic parts of a deposit into economic reserves, thus increasing reserve totals. Notably, long-term commodity prices have remained relatively stable ,, despite declining ore grades in production. , This was predominantly driven by exploration successes, technological innovation, and economies of scale, which lowered the threshold for economic mining and increased global reserves. ,, On a project level, reserve calculations commonly use a cutoff grade to estimate recoverable in-ground quantities, defined by a set of assumed operating conditions with variable uncertainty, including technical feasibility, labor and fuel costs, taxes, and projected commodity prices.…”