Mining, Quarrying, Oil and Gas, Minerals Industry Terminology
Acid Mine Drainage (AMD)
Acidic, metal-laden water generated when sulfide minerals (like pyrite) oxidize upon exposure to air and water. It can contaminate streams, soils, and groundwater and requires prevention or treatment. Examples: The EIA flagged AMD risk in the waste rock dumps; We installed a lime treatment plant to neutralize AMD; Covering the tailings with a dry cap reduces oxygen ingress and AMD formation.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
ANFO
Ammonium nitrate–fuel oil, a widely used bulk blasting explosive for surface and underground mining due to low cost and ease of use. Requires dry holes and good stemming. Examples: The blast crew loaded 200 tonnes of ANFO for the next bench; Water in the holes forced us to switch from ANFO to emulsions; Optimize ANFO density to improve fragmentation.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
API Gravity
American Petroleum Institute measure of petroleum density relative to water; higher API means lighter crude. Influences pricing, refining yields, and processing. Examples: Our crude is 38° API, suitable for gasoline blending; Heavy oil below 20° API needs thermal recovery; Differential widened due to lower API gravity feedstock.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Artificial Lift
Methods to increase flow from a well when reservoir pressure is insufficient, including rod pumps, electric submersible pumps (ESP), and gas lift. Examples: ESPs cut our lifting cost in the mature field; Switching to gas lift improved uptime in sand-prone wells; We sized the rod pump based on decline curve forecasts.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Backfill
Material used to fill mined-out voids (stopes) to provide ground support and enable pillar recovery; can be cemented paste, hydraulic, or rock fill. Examples: The mine plan relies on cemented paste backfill for stability; Backfill strength controls stope span; We blend tailings into the backfill recipe to reduce disposal volumes.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Beneficiation
Processing steps that improve ore grade and recover valuable minerals, typically via crushing, grinding, screening, gravity separation, magnetic separation, or flotation. Examples: The magnetite plant uses grinding and magnetic beneficiation; Increased liberation boosted copper recovery in beneficiation; Reagent costs are the largest variable in the beneficiation circuit.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Block Caving
Mass underground mining method that undercuts a large orebody to induce gravity-driven caving; low unit cost but high capital and geotechnical complexity. Examples: Preconditioning reduced seismicity in the block cave; Draw control is critical to limit dilution; The feasibility study compared block caving to sublevel caving.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Blowout Preventer (BOP)
High-pressure safety equipment installed on a wellhead to seal, control, and monitor wellbore flows and prevent blowouts during drilling or workovers. Examples: The BOP stack passed pressure testing at 10,000 psi; Crew conducted weekly BOP drills; Shear rams are rated to cut the drill pipe in an emergency.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
CAPEX
Capital expenditures to acquire, build, or upgrade long-life assets (mines, wells, plants). Includes initial (development) and sustaining capital. Examples: CAPEX peaks during shaft sinking; We deferred non-essential CAPEX to protect liquidity; The project’s CAPEX per tonne is competitive for the quartile curve.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Carbon Capture, Utilization and Storage (CCUS)
Technologies to capture CO2 from point sources or air, then use or store it in geological formations. Reduces Scope 1/2 emissions and can enable low-carbon fuels. Examples: We’ll inject captured CO2 for EOR and storage; The hub-and-spoke CCUS model lowers unit cost; MRV plans are required for CO2 storage permits.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Cash Cost (C1)
Industry metric for direct operating cost per unit of product (e.g., $/lb copper), typically includes mining, processing, site G&A, and by-product credits but excludes depreciation and sustaining CAPEX. Examples: Our C1 cash cost fell to $1.85/lb; By-product credits from gold cut C1 by 20 cents; Benchmarking shows we’re second quartile on C1.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Casing and Cementing
Running steel pipe strings (surface, intermediate, production) and placing cement to isolate zones, protect aquifers, and ensure well integrity. Examples: The cement bond log confirmed good isolation; We used a liner hanger for the production casing; Top-of-cement was higher than planned, requiring a squeeze.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Comminution
Size reduction of ore via crushing and grinding to liberate minerals; often the most energy-intensive step. Examples: Switching to HPGR reduced comminution energy by 15%; SAG mill throughput improved with pre-crushing; The grind size P80 controls flotation recovery.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Cut-off Grade
The minimum grade at which material is economically worth processing; depends on metal price, recovery, costs, and royalties. Examples: A higher cut-off lifted head grade but shortened LOM; Marginal cut-off varies with OPEX and price; Cut-off optimization maximized NPV in the pit shell.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Decline Curve Analysis
Method to forecast oil and gas production over time using empirical models (e.g., Arps). Supports reserves estimation and economics. Examples: The type curve uses a hyperbolic decline; Ductile completions flattened the early decline; DCA underpinned PDP reserve booking.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Decommissioning Liability
Future obligation to plug and abandon wells, dismantle facilities, and reclaim sites (also called asset retirement obligation). Must be recognized and funded. Examples: We increased ARO due to new P&A standards; The PSC requires a decommissioning trust; Closure bonds cover tailings dam rehabilitation.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Dewatering
Removal of water from pits, underground workings, or tailings to maintain safe operations and improve stability. Examples: In-pit wells lowered the groundwater table by 10 m; We installed a filter press to dewater tailings; Seasonal rains require additional dewatering pumps.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Downstream
O&G segment covering refining, marketing, distribution, and petrochemicals; in mining sometimes used for smelting/refining and fabrication. Examples: Margin improved on the downstream slate; We’re integrating downstream to capture more value; Downstream outages reduced crude runs.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
EIA (Environmental Impact Assessment)
A formal process evaluating potential environmental and social impacts of a project, proposing mitigation, and engaging stakeholders to obtain approvals. Examples: The EIA baseline covered two wet seasons; Regulators requested a cumulative impacts addendum; Indigenous consultation is central to the EIA.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
EITI (Extractive Industries Transparency Initiative)
Global standard promoting open, accountable management of oil, gas, and mineral resources through revenue and contract transparency. Examples: We report taxes and royalties under EITI; The host country just achieved EITI validation; Contract disclosure supports our ESG rating.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Enhanced Oil Recovery (EOR)
Techniques beyond primary and secondary recovery to mobilize additional oil (e.g., CO2 injection, steam flooding, chemical surfactants, miscible gas). Examples: CO2 EOR lifted recovery factor by 12 points; We piloted polymer EOR in the viscous reservoir; Screening favored steam EOR for 12° API crude.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
ESG (Environmental, Social, Governance)
Framework for managing non-financial risks and performance affecting long-term value and license to operate, including emissions, community, safety, and ethics. Examples: Investors asked for ESG-linked KPIs; Our ESG strategy targets zero harm and ZRF; We tied executive comp to ESG scorecards.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Factor of Safety (FoS)
Ratio of available strength to required load; in mining commonly for pit slopes, underground pillars, and tailings dams. Examples: Design FoS for the west wall is 1.3; Rock bolts increased pillar FoS; The TSF’s FoS met ANCOLD guidelines under seismic load.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Flaring and Venting
Controlled burning (flaring) or release (venting) of gas, typically associated gas or during upsets. Regulated due to safety and emissions. Examples: We installed gas gathering to cut flaring; Venting methane is restricted under new rules; The ZRF plan targets 2030 compliance.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Flotation
Mineral separation process where hydrophobic particles attach to air bubbles and float; key for sulfide ores using collectors, frothers, and modifiers. Examples: Regrind improved copper flotation recovery; Froth depth control stabilized grade; We trialed a new collector for moly selectivity.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
FPSO (Floating Production, Storage and Offloading)
A ship-shaped facility that processes hydrocarbons offshore, stores oil, and offloads to shuttle tankers; useful for deepwater fields. Examples: The FPSO topsides are sized for 150 kbopd; We signed a 10-year FPSO lease; Turret mooring allows weathervaning.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
GHG Emissions Scope 1/2/3
Scope 1: direct emissions from owned operations; Scope 2: indirect from purchased energy; Scope 3: all other value-chain emissions. Examples: Diesel and flaring dominate Scope 1; Grid decarbonization cut Scope 2 by 40%; Customers’ steelmaking drives our Scope 3 footprint.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Grade Control
Short-term sampling, modeling, and selective mining practices to deliver consistent ore grade to the mill and minimize dilution. Examples: RC grade control refined the ore–waste boundary; Blast movement monitoring improved reconciliation; Stockpiles help smooth grade variability.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Heap Leach
Low-cost processing where crushed ore is stacked on pads and irrigated with leach solution; metals are recovered from PLS via adsorption or SX-EW. Examples: The oxide gold project uses heap leach and CIC; Solution application rate controls leach kinetics; We upgraded to a geomembrane-lined heap pad.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
HSE (Health, Safety, Environment)
Management systems and practices to prevent harm to people and the environment; includes hazard identification, training, and incident investigation. Examples: HSE audits flagged confined space risks; We achieved one million hours LTI-free; Daily toolbox talks are part of HSE culture.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Hydraulic Fracturing
Injecting fluid at high pressure to create fractures in low-permeability formations, placing proppant to keep them open and enhance flow. Examples: The frac design used slickwater with 2,000 lb/ft proppant; Microseismic mapped the fracture geometry; Parent–child well spacing minimized frac hits.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Indicated/Measured/Inferred Resources
Resource confidence categories defined by codes like JORC and NI 43-101: Measured (highest), Indicated, and Inferred (lowest). Not the same as Reserves. Examples: We upgraded Inferred to Indicated with infill drilling; Only Measured and Indicated can convert to Probable/Proved Reserves; The PEA can include Inferred resources with cautionary language.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
In-situ Recovery (ISR/ISL)
Solution mining method where lixiviant is circulated through ore in place to dissolve and recover metals (e.g., uranium, copper) with minimal surface disturbance. Examples: ISR wellfields are developed in patterns; We monitor breakthrough to prevent excursions; Acid vs alkaline ISR depends on host geology.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Internal Rate of Return (IRR)
The discount rate that makes a project’s NPV equal zero; a key investment metric alongside NPV and payback. Examples: IRR improved to 19% after CAPEX optimization; Lenders require IRR above the hurdle rate; Sensitivities show IRR most exposed to commodity price.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
JORC Code
Australasian code for reporting exploration results, mineral resources, and ore reserves; requires a Competent Person and transparent, material disclosure. Examples: The updated JORC statement increased Probable Reserves; Our Competent Person signed off the resource model; JORC Table 1 documents sampling and QA/QC.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Life-of-Mine (LOM) Plan
Integrated schedule and design that outlines how a deposit will be mined and processed from start to closure, including production rates, CAPEX/OPEX, and sequencing. Examples: The LOM plan extends 14 years at 4 Mtpa; Pushback sequencing optimizes NPV; LOM integrates the new satellite pits.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Lifting Cost
Operating cost to produce a barrel of oil equivalent (also called lease operating expense per boe); excludes finding and development costs. Examples: Workovers cut lifting cost to $9/boe; Water handling drove lifting costs higher; Artificial lift selection impacts lifting cost.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
LNG (Liquefied Natural Gas)
Natural gas cooled to around −162°C to liquefy for transport; re-gasified at destination. Projects involve liquefaction trains, storage tanks, and shipping. Examples: We signed a 20-year LNG offtake at JKM minus 50 cents; The FLNG unit adds flexibility; Boil-off gas is reliquefied to cut losses.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Longwall Mining
High-productivity underground coal mining method using a shearer and powered supports along a long face, allowing controlled caving. Examples: Face advance averages 15 m/day; Shield pressure adjustments reduced roof falls; The panel layout minimized subsidence impacts.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Midstream
Oil and gas segment that gathers, processes, transports, and stores hydrocarbons via pipelines, plants, and terminals. Examples: Our midstream JV handles gas processing; NGL recovery improved midstream margins; Pipeline bottlenecks widened regional differentials.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
MWD/LWD (Measurement/Logging While Drilling)
Downhole tools that transmit real-time data (e.g., gamma, resistivity, inclination) to guide drilling and geosteering; reduces non-productive time. Examples: LWD resistivity kept us in the pay zone; MWD telemetry failed, triggering a trip; The geosteer used azimuthal gamma.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Net Present Value (NPV)
Present value of future after-tax cash flows discounted at a chosen rate; primary measure of project value. Examples: NPV at 8% increased with higher head grades; We report both pre-tax and post-tax NPV; Price sensitivity shows NPV break-even at $3.10/lb copper.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Netback
Realized price net of transportation, processing, and marketing costs, often expressed per barrel or per Mcf. Examples: Pipeline tariffs reduced our netback by $2/bbl; Upgrading improved bitumen netbacks; We benchmark field netbacks across operators.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
NI 43-101
Canadian standard for disclosure of mineral projects; requires a Qualified Person and prescribes content for technical reports and resource/reserve statements. Examples: The NI 43-101 Technical Report supports the PFS; A Qualified Person must approve the news release; We filed an NI 43-101 for the new discovery.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Open Pit Mining
Surface mining method using benches, ramps, and pit walls to extract near-surface ore; involves drilling, blasting, loading, and hauling. Examples: The ultimate pit shell is Lerchs–Grossmann optimized; High strip ratio in early years affects cash flow; Slope angles vary by geotechnical domain.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
OPEX
Operating expenditures required to run assets, including labor, energy, consumables, maintenance, and logistics. Examples: Power cost dominates OPEX at the concentrator; OPEX per tonne dropped with higher throughput; Maintenance optimization cut OPEX by 8%.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Overburden
Non-ore material overlying a deposit that must be removed to access ore in surface mining; managed as waste rock or used for backfill and reclamation. Examples: We pre-stripped 5 million bcm of overburden; Selective handling of acid-forming overburden reduces AMD; Overburden dumps are contoured for closure.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Production Sharing Contract (PSC)
Fiscal regime where the state owns hydrocarbons and the contractor recovers costs from cost oil/gas, then shares profit oil/gas per agreed splits. Examples: Cost recovery is capped at 60% under the PSC; The R-factor shifts profit oil to the state over time; PSC terms improved project IRR vs a royalty-tax system.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Tailings Storage Facility (TSF)
Engineered containment for fine waste from mineral processing; requires design for stability, seepage control, and closure, often with upstream/downstream/centerline raises. Examples: We upgraded the TSF to filtered tailings; Real-time piezometers monitor TSF pore pressure; The GISTM audit found actions on emergency preparedness.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Upstream
Exploration and production segment of the oil and gas industry involving seismic, drilling, completion, and production operations. Examples: Upstream CAPEX is skewed to deepwater; We’re focusing upstream on short-cycle shale wells; Upstream emissions intensity is down 15% year over year.
The preferred schema doesn't have 'examples'. But the 'definition' field will include examples per term.
Related Topics
Further Reading
Was this page helpful? We'd love your feedback — please email us at feedback@dealstream.com.