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Fifty Öre
Value 0.5 SEK
Mass 3.7 g
Diameter 18.75 mm
Thickness 1.80 mm
Edge Plain
Composition 97 % copper, 2,5 % zinc and 0,5 % tin
Years of minting 1992-2009
Catalog number -
Obverse
Obverse
Reverse
Reverse

Öre is the one-hundredth subdivision of the Swedish krona currency unit. The plural and singular are the same in the indefinite forms, whereas the singular definite form is öret and the plural form is örena. The name derives from the Latin aureus (gold), the name of a coin worth 25 denarii.

Since 1991, the only coin in use with a value below 1 SEK is the 50 öre coin. See the article about the krona for more information. On December 18, 2008, the Swedish Riksbank announced a recommendation to the Swedish government to phase out the final öre coin by 2010[1]. As of March 25, 2009, the coin is no longer minted.[2]

The corresponding subdivisions of the Norwegian krone and the Danish krone are called øre.

During the middle ages, the öre was a unit of Swedish currency equal to 1/8 of a mark, 3 örtugar or either 24, 36 or 48 penningar (depending on the geographical area in which it was used). It was used as a counting unit for currency already in the 11th century, but was not minted until 1522. This öre was withdrawn in 1776, but returned in 1855 as 1/100 of the riksdaler. The riksdaler was replace by krona in 1873 (one riksdaler equalling one krona in the exchange), but öre remained the name of the subdivision of the currency.

See also

Other coin names that are derived from the gold of which they were once made:

References

  1. ^ Riksbank urges Sweden to ditch 50 öre coin, The Local, December 18, 2008
  2. ^ 50-öringens öde avgörs i dag, DN.se, March 25, 2009

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An ore is a type of rock that contains minerals such as gemstones or metals that can be extracted through mining and refined for use. Samples of ore in the form of exceptionally beautiful crystals, exotic layering visible when sectioned or polished or metallic presentations such as large nuggets or crystalline formations of metals such as gold or copper may command a value far beyond their value as mere ore or raw metal for subsequent reduction to utilitarian purposes.

The grade or concentration of an ore mineral, or metal, as well as its form of occurrence, will directly affect the costs associated with mining the ore. The cost of extraction must thus be weighted against the contained metal value of the rock to determine what ore can be profitably extracted and what ore is of too low a grade to be worth mining. Metal ores are generally oxides, sulfides, silicates, or "native" metals (such as native copper) that are not commonly concentrated in the Earth's crust or "noble" metals (not usually forming compounds) such as gold. The ores must be processed to extract the metals of interest from the waste rock and from the ore minerals. Ore bodies are formed by a variety of geological processes. The process of ore formation is called ore genesis.

Contents

Ore deposits

An ore deposit is an accumulation of ore. This is distinct from a mineral resource as defined by the mineral resource classification criteria. An ore deposit is one occurrence of the particular ore type. Most ore deposits are named according to either their location (for example the Witswatersrand, South Africa), or after a discoverer (eg; the kambalda nickel shoots are named after drillers), or after some whimsy, an historical figure, a prominent person, something from mythology (phoenix, kraken, serepentleopard, etc) or the code name of the resource company which found it (eg; MKD-5 is the in-house name for the Mount Keith nickel

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Classification of ore deposits

Ore deposits are classified according to various criteria developed via the study of economic geology, or ore genesis. The classifications below are typical

Hydrothermal epigenetic deposits

Granite related hydrothermal

Nickel-cobalt-platinum deposits

Volcanic-related deposits

Metamorphically reworked deposits

  • Podiform serpentinite-hosted paramagmatic iron oxide-chromite deposits, typified by Savage River, Tasmania iron ore, Coobina chromite deposit
  • Broken Hill Type Pb-Zn-Ag, considered to be a class of reworked SEDEX deposits

Carbonatite - alkaline igneous related

Sedimentary deposits

Sedimentary hydrothermal deposits

Astrobleme-related ores

Extraction

The basic extraction of ore deposits follows the steps below;

  1. Prospecting or Exploration to find and then define the extent and value of ore where it is located ("ore body")
  2. Conduct resource estimation to mathematically estimate the size and grade of the deposit
  3. Conduct a pre-feasibility study to determine the theoretical economics of the ore deposit. This identifies, early on, whether further investment in estimation and engineering studies is warranted and identifies key risks and areas for further work.
  4. Conduct a feasibility study to evaluate the financial viability, technical and financial risks and robustness of the project and make a decision as whether to develop or walk away from a proposed mine project. This includes mine planning to evaluate the economically recoverable portion of the deposit, the metallurgy and ore recoverability, marketability and payability of the ore concentrates, engineering, milling and infrastructure costs, finance and equity requirements and a cradle to grave analysis of the possible mine, from the initial excavation all the way through to reclamation.
  5. Development to create access to an ore body and building of mine plant and equipment
  6. The operation of the mine in an active sense
  7. Reclamation to make land where a mine had been suitable for future use

Trade

Ores (metals) are traded internationally and comprise a sizeable portion of international trade in raw materials both in value and volume. This is because the worldwide distribution of ores is unequal and dislocated from locations of peak demand and from smelting infrastructure.

Most base metals (copper, lead, zinc, nickel) are traded internationally on the London Metal Exchange, with smaller stockpiles and metals exchanges monitored by the COMEX and NYMEX exchanges in the United States and the Shanghai Futures Exchange in China.

Iron ore is traded between customer and producer, though various benchmark prices are set yearly between the major mining conglomerates and the major consumers, and this sets the stage for smaller participants.

Other, lesser, commodities do not have international clearing houses and benchmark prices, with most prices negotiated between suppliers and customers one-on-one. This generally makes determining the price of ores of this nature opaque and difficult. Such metals include lithium, niobium-tantalum, bismuth, antimony and rare earths. Most of these commodities are also dominated by one or two major suppliers with >60% of the world's reserves. The London Metal Exchange aims to add uranium to its list of metals on warrant.

The World Bank reports that China was the top importer of ores and metals in 2005 followed by the USA and Japan.

Important ore minerals

See also


Simple English

An ore is a mineral which has a metal inside it. Ores are usually extracted by being mined but can sometimes be found on the Earth's surface. The metal in ore is often valuable. There are different ways to get the metal out of the ore.


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