Mining Glossary O
Odd lot - A block of shares that is less than a board lot.
Open order - An order to buy or sell stock, which is good until cancelled by the client.
Open pit - A mine that is entirely on surface. Also referred to as open-cut or open-cast mine.
Option - An agreement to purchase a property reached between the property vender and some other party who wishes to explore the property further.
Option (on Stock) - The right to buy or sell a share at a set price, regardless of market value.
Ore - A mixture of ore minerals and pangue from which at least one of the metals can be extracted at a profit.
Ore pass - Vertical or inclined passage for the downward transfer of ore connecting a level with the hoisting shaft or a lower level.
Orebody - A natural concentration of valuable material that can be extracted and sold at a profit.
Ore Reserves - The calculated tonnage and grade of mineralization which can be extracted profitably; classified as possible, probable and proven according to the level of confidence that can be placed in the data.
Oreshoot - The portion, or length, of a vein or other structure that carries sufficient valuable minerals to be extracted profitably.
Organic maturation - The process of turning peat into coal.
Orogeny - A period of mountain-building characterized by the folding of a portion of the earth's crust.
Outcrop - An exposure of rock or mineral deposit that can be seen on surface, that is, not covered by soil or water.
Overturned - Where the oldest sedimentary rock beds are lying on top of a younger beds.
Oxiddtion - A chemical reaction caused by exposure to oxygen that results in a change in the chemical composition of a mineral.
Calculated Mill Power Identifying Carbon Minerals Gold Element, Alloys and Symbols Effect of High or Low Ratio of Reduction Rod Milling Stope and Mine Control Effect of open-side setting, closed-side and throw on Crushing Example Copper Flotation Flowsheets Placer Deposits Assay Salting Estimate Ore Reserves from Drill Hole Pattern Capacity of Secondary Stage Crushing Rocks and Minerals Franklinite Composition, Crystallization & Structure 2. Gold Mining in Africa Shrinkage Stoping Mining Method
