I just sold nearly all of mine to buy armor and stuff.
I think you'll need all of them sooner or later, so some extra farming is something i planned for later.
All ore can be used but the game is generous giving you them once you have certain tools. Sell away and when the ore is needed use said tools to find them.
Do you mean
the radar? I can't get the compendium to recognize stuff like ore or monster remains.