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McKelvey diagram
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A McKelvey diagram or McKelvey box is a visual representation used to describe a natural resource such as a mineral or fossil fuel, based on the geologic certainty of its presence and its economic potential for recovery. The diagram is used to estimate the uncertainty and risk associated with availability of a natural resource.As geological assurance of a resource's occurrence decreases, risk increases. As economic recoverability of a resource decreases, risk also increases.
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A McKelvey diagram or McKelvey box is a visual representation used to describe a natural resource such as a mineral or fossil fuel, based on the geologic certainty of its presence and its economic potential for recovery. The diagram is used to estimate the uncertainty and risk associated with availability of a natural resource.As geological assurance of a resource's occurrence decreases, risk increases. As economic recoverability of a resource decreases, risk also increases.
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