economically feasible

Economically feasible means a resource can be used in a way that makes financial sense—its total cost of finding, extracting, processing, and transporting it is not more than the value people can get from it.

• Costs included: not just digging or drilling, but also machines, energy, workers’ wages, safety measures, transport, and sometimes paying for land or permissions.
• Depends on price: the same resource can be feasible when its market price is high, and not feasible when the price falls.
• Depends on location: a mineral near the surface or close to roads/ports is usually cheaper to extract than the same mineral deep underground or in a remote area.
• Changes over time: new technology can reduce costs and make something economically feasible later, even if it was too expensive earlier.
• Example: oil in very deep seas or in polar regions may exist, but if drilling and transport cost more than the money earned from selling the oil, it is not economically feasible at that time.

This idea helps explain why some natural materials remain “unused” for years: they may exist in nature, but they only become resources when using them is practical and affordable.