The process of extracting valuable minerals from raw ore is known as:

Exploration
Beneficiation
Smelting
Refining

The correct answer is: B) Beneficiation.

Beneficiation is the process of improving the physical or chemical properties of a mineral ore to make it more suitable for further processing. This can involve a number of different techniques, such as crushing, grinding, and sorting. The goal of beneficiation is to increase the concentration of the desired mineral in the ore, while reducing the amount of waste material.

Exploration is the process of searching for mineral deposits. This can involve a number of different techniques, such as geological mapping, geophysical surveys, and drilling. The goal of exploration is to identify areas with the potential to contain economic mineral deposits.

Smelting is the process of extracting a metal from its ore by heating it to a high temperature. This process involves a number of different steps, such as crushing, grinding, and roasting the ore. The goal of smelting is to produce a molten metal that can be further refined.

Refining is the process of purifying a metal by removing impurities. This can involve a number of different techniques, such as distillation, electrolysis, and chemical treatment. The goal of refining is to produce a metal that is free of impurities and meets the required specifications.