Full definition
Enriched product from flotation, gravity or magnetic separation containing a high grade of the target metal. Example: copper concentrate at 25–35% Cu vs. 0.3–1% in original ore. Filtered, dried and shipped to a smelter. Commercial value depends on grade, moisture (< 9% for sea transport) and impurity levels (As, Bi, Pb) per smelter treatment agreement. Penalized impurities reduce net smelter return (NSR).