MINERALS AND ENERGY RESOURCES
Minerals and energy resources are vital components of modern economies, playing an essential role in industrial development, infrastructure creation, and technological advancement. These resources are foundational to the functioning of societies, from early civilizations' reliance on basic minerals to today’s complex energy grids powered by oil, coal, and renewable sources
1.Definition: Minerals are naturally occurring inorganic substances with a definite chemical composition and structure, used in various industries such as construction, manufacturing, and electronics. Energy resources, on the other hand, refer to natural resources used for generating energy, including fossil fuels (coal, oil, and natural gas), nuclear energy, and renewable sources (solar, wind, hydroelectric).
2.Role in Economic Development
Minerals and energy resources are the backbone of modern economies. They are key inputs in industries such as manufacturing, transportation, construction, and energy production. Countries rich in these resources, such as Saudi Arabia (oil), Australia (iron ore, coal), and Russia (natural gas), leverage them to drive economic growth and international trade.
In China, the world's largest coal producer, coal-fired power plants generate about 57% of the country’s energy, fuelling its industrial growth. Similarly, in Chile, the mining of copper, which accounts for 28% of global production, is a major contributor to the national economy, bringing in significant export revenues.
3.Essential Role in Industrialization and Infrastructure Development
The availability of minerals and energy resources has historically driven industrial revolutions and infrastructural developments. Steel (from iron ore) and aluminium (from bauxite) are critical in building infrastructure such as roads, bridges, and skyscrapers. Coal, oil, and natural gas are pivotal in powering industries, electricity generation, and transportation.