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Mining Property
Land or rights to land that are held for the purpose of extracting minerals, oil, or gas.
Ore
A naturally occurring solid material from which a metal or valuable mineral can be extracted profitably.
Straight-Line Depreciation
A procedure for spreading out the cost of a solid asset over the duration of its usability in equal annual payments.
Obsolescence
The process or condition of a product or component becoming outdated or no longer useful due to advancements or changes in technology, market demand, or other factors.
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