The Mineral Wealth of Nations

In the geologically prospective nations which rim the Pacific Ocean, mineral deposits offer great potential to create wealth for social and economic development. The paper first examines the geological and economic attributes of potential mineral wealth based on current outlook assessment of all significant base metal deposits discovered to 1988 in two Pacific Rim nations - Australia and Canada . The variability of mineral wealth among the economic deposits evaluated and the major contribution of the few world-class discoveries to total mineral wealth are highlighted. Then, the essential but too often neglected linkage between the makeup of potential wealth and its actual realization is analysed. The impact of taxation and the role of exploration are crucial in this regard. Finally, the ingredients of exploration success, prerequisites for realizing the mineral wealth of nations, are examined.