Ore study of economic geology, or ore genesis. The classifications below are typical. The basic extraction of ore deposits follows these steps: Ores (metals) are traded internationally and comprise a sizeable portion of international trade in raw materials both in value and volume. This is because the worldwide distribution of ores is unequal and dislocated from locations of peak demand and from smelting infrastructure. Most base metals (copper, lead, zinc, nickel) are traded internationally on the London Metal Exchange, with smaller stockpiles and metals exchanges monitored by the COMEX and NYMEX exchanges in the United States and the Shanghai Futures Exchange
Lateritic nickel ore deposits the weathering mantle developed above ultramafic rocks. As such they tend to be tabular, flat and really large, covering many square kilometres of the Earth's surface. However, at any one time the area of a deposit being worked for the nickel ore is much smaller, usually only a few hectares. The typical nickel laterite mine often operates as either an open cut mine or a strip mine. Nickel laterites are a very important type of nickel ore deposit. They are growing to become the most important source of nickel metal for world demand (currently second to sulfide nickel ore deposits).