For wood - definitely elves; they get more chops per tree than humans
For Ore, however, the only thing definitive I've seen is more gems. My personal tests showed no difference between ore amounts or the colored/iron ratio (as the yield for ore is so much smaller than for wood, it's probably that the additional occasional ore for being human amounts to about the same extra they'd get from digging as an elf). So, it's better to be human as a miner, for the extra capacity before being overweight.