If I recall correctly, when you design something (perhaps just researched items) two copies are made -> one that you can see and rename and change then re-research and delete and so forth, and one that is ONLY server DB side (inaccessible by players and thus un-deletable). So there would be no problem of (or limited problem of) the server knowing what minerals or alloys it contains.
Keeping with the feel of BP, I would imagine that there would be a percent loss of this "recycling" similar to that of making alloys (12 minerals makes 10 alloys). Being that recycling would only get your minerals/alloys back, I doubt that this would drastically change the game, and thus could be agreeable to most.
The only issue that I can see, at current, is the time to develop aspect. Perhaps if someone in the BP community who was good with visual basic wants to contribute, he could write something up and propose it to SirP