The present participle of 'benefice,' meaning to invest with a church office or beneficiary position, or to treat minerals through beneficiation.
From Latin 'beneficium' (benefit, church living). As a mining term, it's the present participle of 'benefice' used in technical contexts related to mineral processing.
In medieval England, 'beneficing' someone meant giving them a cushy church job—essentially the original 'insider advantage' that guaranteed steady income! Today it mostly describes mining processes, but the word carries that sense of giving someone something valuable.
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