In the mining industry, definitions of terms such as geologic resource, geologic reserve, mineral resource, mineral, mineral reserve, ore, ore reserve, mineable reserve, and industrial minerals always have been debated, and have caused much confusion. The process of arriving at these definitions requires complicated exploration, calculation, and evaluation. Based on such work, the definitions about the mineral property will be distinctly different. The aims of this paper is to discuss and compare these definitions, and then contrast the differences among them in the example of the Hasançelebi iron are deposit, which is an important source of iron ore in Turkey. © 2004 International Association for Mathematical Geology.