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Mineral Reserves vs Mineral Resources

Minerals are naturally occurring organic and non-organic(Metallic and non-metallic) substances with definite physical and chemical properties. 



Mineral resource- concentration or occurrence of material 

Mineral reserve(Subset of resource)- mineable part of Mineral resource. 




In India, fossil fuels(mainly oil and natural gas) were governed by

Petroleum Act, 1934- import, export, storage, production and refining of Petroleum

Oilfields (Regulation and Development) Act, 1948- oil and natural gas mining in India


For other minerals in India, minerals were governed by Mines and Minerals (Regulation and Development) Act, 1957. It defines two categories of minerals.

1. Major minerals(schedule 1)- Rules are made by Central government(Ministry of mines) 

2. Minor minerals(Central Government order)- State Governments have complete power for making Rules regarding minor minerals. 




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