For a copper mine, the extraction period or lifespan is generally expected to be somewhere between 5 to 70 years. Other mines, such as diamond mines or nickel mines, have a significantly shorter duration of extraction with some 27 and 22 years, respectively.
Duration of the extraction period of a mine by selected commodities
Mine life is the extraction period in years for scheduled ore reserves comprising proved and probable reserves only. For diamonds, life of mine (years) is reported and is based on scheduled probable reserves including indicated and some inferred resources considered for life of mine planning.
*The 30 years for platinum is due to 30 years being the maximum number of years for which a mining right is granted in South Africa.
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Anglo American plc. (March 19, 2013). Duration of the extraction period of a mine by selected commodities [Graph]. In Statista. Retrieved December 21, 2024, from https://www.statista.com/statistics/255479/mine-life-per-commodity/
Anglo American plc. "Duration of the extraction period of a mine by selected commodities." Chart. March 19, 2013. Statista. Accessed December 21, 2024. https://www.statista.com/statistics/255479/mine-life-per-commodity/
Anglo American plc. (2013). Duration of the extraction period of a mine by selected commodities. Statista. Statista Inc.. Accessed: December 21, 2024. https://www.statista.com/statistics/255479/mine-life-per-commodity/
Anglo American plc. "Duration of The Extraction Period of a Mine by Selected Commodities." Statista, Statista Inc., 19 Mar 2013, https://www.statista.com/statistics/255479/mine-life-per-commodity/
Anglo American plc, Duration of the extraction period of a mine by selected commodities Statista, https://www.statista.com/statistics/255479/mine-life-per-commodity/ (last visited December 21, 2024)
Duration of the extraction period of a mine by selected commodities [Graph], Anglo American plc, March 19, 2013. [Online]. Available: https://www.statista.com/statistics/255479/mine-life-per-commodity/
