Thermodynamic Assessment of the Loss of Mineral Wealth

In this chapter, we will analyse the global historical extraction of mineral resources from an exergy point of view. Exergy allows us to assess the degradation caused by the extraction of minerals by humans considering the resource quality. The loss of total mineral wealth from 1900 to 2018 was around 200 Gtoe. This means that we would need a minimum of 80% of the world oil reserves known today to replace or recover those mineral deposits from a dispersed environment (in our case, Thanatia) with current technology. Additionally, the future situation of mineral extraction can be contemplated using projections based on the Hubbert model, using past trends and resource estimates. The case of lithium and phosphate rock will be explored in detail. Finally, using Sankey diagrams, mineral reliance and loss of mineral wealth for three regions will be analysed: (1) Spain and Colombia, (2) Latin America and (3) Europe. This, combined with an economic analysis, will help us to detect if these countries’ natural heritage is being undersold.