Showing papers in "Minerals & Energy - Raw Materials Report in 2002"
TL;DR: In this paper, the authors examined the effects and effectiveness of small-scale mining support services in developing countries and argued that the crux of the problem is neglect on the part of governments, which not only fail to integrate crucial behavioural-and institutional-side factors into decision-making processes, but also tend to leave unstable, financially volatile small scale mining support projects to stand on their own.
Abstract: This paper examines the effects and effectiveness of small-scale mining support services in developing countries. In the past 10-15 years, several governments, having recognized the potential economic significance of small-scale mining, have sought to regularize operations. Most, however, have failed to acknowledge the importance of providing continued technological and financial support to resident miners - a key to facilitating increased formalization in this informal sector of industry. The paper argues that the crux of the problem is neglect on the part of governments, which not only fail to integrate crucial behavioural- and institutional-side factors into decision-making processes, but also tend to leave unstable, financially volatile small-scale mining support projects to stand on their own. Itis concluded that small-scale mining support-schemes could be vastly improved if governments: (a) begin constructing district support-centres; (b) improve the distribution and availability of financial assist...
29 citations
TL;DR: In this article, the authors discuss results of research in community consultation in mine closure based on personal experience and discussions with key players at various mine sites and their affected communities in Australia and internationally.
Abstract: As long as man has been opening new mines, he has been closing others, resulting in a range of mainly adverse effects on local and regional communities. This paper discusses results of research in community consultation in mine closure based on personal experience and discussions with key players at various mine sites and their affected communities in Australia and internationally. It discusses the influence of various factors that impact on mining communities including commuting cycles, isolation, life of mines, age of workforce and so on. A number of case studies, ranging from small-scale gemstone mines to large-scale open cut gold mines are analysed. Even though closure issues for every mine are unique, this paper shows that it is possible to develop a series of principles to assist mining companies and other key community players involved in the closure process to "get it right" for the benefit of all including employees, land owners, governments and other stakeholders.
22 citations
TL;DR: The model of sustainable development now emerging does not ignore the national perspective on mining but gives relatively more emphasis to its regional economic impacts, to issues of income distribution and poverty alleviation, and to using the shot in the arm supplied by mining capital to leverage the development of other complementary economic activities which have the capacity to continue after mining has ceased as discussed by the authors.
Abstract: Traditional development models emphasised the contribution which mining could make towards national economic objectives in the form of income, employment and exports and in the generation of tax revenues to be used to fund public welfare programmes. They often also looked to the potential of mining to stimulate related economic activities upstream and downstream. The model of sustainable development now emerging does not ignore the national perspective on mining but gives relatively more emphasis to its regional economic impacts, to issues of income distribution and poverty alleviation, and to using the shot in the arm supplied by mining capital to leverage the development of other, complementary, economic activities which have the capacity to continue after mining has ceased.
15 citations
TL;DR: In this paper, the authors argue that mining is an economic activity and that it should be assessed by the same yardsticks as any other economic activity, with environmental and social considerations acting as constraints but not objectives in their own right.
Abstract: This paper, written for a UNEP/World Bank sponsored conference on Sustainability and Global MiningFinance, takes an agnostic look at sustainable development. It rejects the narrow view that mining is inherently unsustainable and the belief that minerals are more valuable in the ground than mined. The paper emphasises that mining is an economic activity and that it should be assessed by the same yardsticks as any other economic activity. The creation of profit is the prime test of its sustainability, with environmental and social considerations acting as constraints but not objectives in their own right. The paper considers sustainability in terms of the economic rent liberated by mining and the uses to which that rent is put. The mining industry has not been sufficiently profitable, and financial institutions have reinforced its failings in that regard. Their main contribution to a more sustainable mining industry is to ensure that it is profitable. Rigidly enforced codes of conduct are likely to prove ec...
10 citations
TL;DR: In the case of Ghana, where a number of large-scale mining companies have displaced thousands of artisanal mine operators - referred to locally as "galamsey" as discussed by the authors, the ensuing disputes have been noticeably intense.
Abstract: In the developing world, land use competition has intensified between small- and large-scale miners in recent years. This paper profiles the case of Ghana, where a number of large-scale mining companies have displaced thousands of artisanal mine operators - referred to locally as "galamsey". Since the implementation of the country's IMF and World Bank-endorsed Economic Recovery Plan(ERP)in 1983, large-scale gold miningandexploration has increased significantly. This, in turn, has precipitated a mass dislocation of indigenous small-scale gold miners. Many have thus elected to operate illegally as galamsey, working unoccupied portions of land concessions that have been awarded to large-scale miners; the ensuing disputes have been noticeably intense. Land use competition between large-scale operators and the galamsey will remain a pressing problem until the Government begins addressing the needs of resident artisanal and small-scale miners accordingly.
10 citations
TL;DR: An analysis of mining mergers and acquisitions during 2000 and 2001 is taken as a starting point for a discussion of the slowly increasing concentration of metal mining industries in general and in the gold and iron ore industries in particular as mentioned in this paper.
Abstract: An analysis of mining mergers & acquisitions during 2000 and 2001 is taken as a starting point for a discussion of the slowly increasing concentration of metal mining industries in general and in the gold and iron ore industries in particular. Potential influences on metal prices are also addressed and considered to be low at present. The industry should however be kept under close watch.
7 citations
TL;DR: The coal industries of the economies in transition have faced a difficult evolution since 1989 when the coal industry reforms commenced in central and eastern Europe and the Commonwealth of Independent States as discussed by the authors, and the coal sector has undoubtedly faced an unfavourable environment arising from a host of adverse factors, including decreased coal demand, a more competitive energy regulatory framework, gradual withdrawal of state support from the industry, and complex social, employment and environmental issues.
Abstract: The coal industries of the economies in transition have faced a difficult evolution since 1989 when the coal industry reforms commenced in central and easternEurope and the Commonwealth of Independent States. Reforming the coal industries in this region has proved perhaps the most difficult task of the entire economic reforms, not least because of the industry's significant historical legacy and also the social and regional implications of market-oriented reforms. The coal sector has undoubtedly faced an unfavourable environment arising from a host of adverse factors, including decreased coal demand, a more competitive energy regulatory framework, gradual withdrawal of state support from the industry, and complex social, employment and environmental issues. To contribute to a better understanding of this complex restructuring process, to identify progress made and to evaluate how the industry has evolved the UNECE has collected and analysed a representative data set for the period 1990 to 2000. The restru...
4 citations
TL;DR: The Airtours vs. the Commission case as discussed by the authors was the first case in which the European Court of First Instance (CFI) released its judgment on the Airtour vs the Commission decision.
Abstract: In June 2002, the European Court of First Instance (CFI) released its judgment on the Airtours vs. the Commission case. The decision lowered the antitrust hurdles to merger and acquisition activity in Europe. Interest in the case is twofold. It makes the difference between EU and US antitrust law more distinct, and this difference is basically the capability (or lack thereof in the EU case) to handle the negative effects that occur in an oligopoly situation without any coordinated effects. This may have a profound effect on the way markets in antitrust cases are defined in the future. Cases in raw materials and energy markets are explored in some detail. The short‐term effect could be an increasing focus on market definition to establish single dominance in more merger cases. The long‐term effect of the Airtours decision will probably be that the EU abandons the current merger legislation and instead adopts an “Anglo‐Saxon”; view of mergers emphasizing the possible welfare effects.
3 citations
TL;DR: In this paper, the authors deal with problems and risks that the reform of the mining law might pose, working with two likely post-reform scenarios: the transition process and the black economic empowerment scheme.
Abstract: The reform of mining law in South Africa raises numerous political, economic and legal questions characteristic of the global mining industries. This note deals with some of them, particularly with problems and risks that the reform of the mining law might pose, working with two likely post‐reform scenarios: the transition process and the black economic empowerment scheme. The note is a result of a number of interviews, notes, comments and observations made by the author during the reform process. It is not aimed at providing a detailed account of the new law, but at bringing some comments and thoughts on the reform process, and inviting further debate.
3 citations
ENEA1
TL;DR: In this article, a quantitative assessment of fossil fuel sustainability, 13 long-term energy scenarios are reviewed and the characteristics of sustainable consumption patterns are identified, and the only possible reason for abandoning the current fossil-intensive consumption path would be by adopting a "precautionary"; approach in fixing a "safe"; level of greenhouse gas concentration (e.g. 450 ppm).
Abstract: In this quantitative assessment of fossil fuel sustainability, 13 long‐term energy scenarios are reviewed and the characteristics of sustainable consumption patterns are identified. First, economic sustainability is analysed by considering the physical availability of fossil fuels and by investigating OECD energy supply security. Second, environmental sustainability is discussed by analysing fossil fuel consumption in scenarios leading to a stabilization of atmospheric CO2 concentrations by 2100 and also in scenarios leading to a near‐term reduction of OECD CO2 emissions. From an economic point of view there is nothing to induce policymakers to take action to reduce fossil fuel consumption. The only possible reason for abandoning the current fossil‐intensive consumption path would be by adopting a “precautionary”; approach in fixing a “safe”; level of greenhouse gas concentration (e.g. 450 ppm). Although we lack the necessary conditions for a medium‐term radical change of the energy system, in or...
2 citations
TL;DR: The United States reporting standard for the mining industry for securities purposes is contained in the Security and Exchange Commission’s Industry Guide 7.1 as discussed by the authors, which defines proven and probable Reserves using its own definitions, and prohibits the disclosure of quantitative estimates, for all mineralisation other than those two Reserve categories.
Abstract: The United States’ reporting standard for the mining industry for securities purposes is contained in the Security and Exchange Commission’s Industry Guide 7. It defines proven and probable Reserves using its own definitions, and prohibits the disclosure of quantitative estimates, for all mineralisation other than those two Reserve categories (though discl osure of Measured and Indicated Resources as quantitative mineralised material estimates is now informally allowed). Similarly, it restricts disclosure of value estimates to Reserves only, which SEC policy generally requires to be on an his toric cost accounting basis. The SEC does not maintain a form al Competent or Qualified Person policy.
TL;DR: The past year was a watershed year in the mining sector in terms of the magnitude of mergers and acquisitions that occurred as discussed by the authors, and these transactions have reshaped the hierarchy of mining sector for the next decade.
Abstract: The past year was a watershed year in the mining sector in terms of the magnitude of mergers and acquisitions that occurred. These transactions have reshaped the hierarchy of the mining sector for the next decade. Considering the amount of consolidation that we have witnessed during the past few years coupled with the decreasing amount of exploration spending and limited number of exploration successes, the question that must be asked is: "Where are the new opportunities for growth?" One of the areas that can provide growth, particularly among the smaller players, is from the disposal of assets and businesses by the major companies as they digest their recent acquisitions. In addition, we may now see a shift from the "pure commodity play" company, that was the favored investment of many large U.S. mining investors in 1990s, to companies with more of a diversified commodity mix to achieve the required growth and return in the long-term.
TL;DR: In the absence of clear incentives, potential investors in exploration, development, transport, distribution and consumption are unlikely to invest at the rate expected by the government as mentioned in this paper, which will result in China becoming a major net importer.
Abstract: China's natural gas industry has entered a period of rapid growth. Annual production and consumption have doubled in the last ten years, and demand is set to increase at a similar rate over the next two decades. A shortage of domestic gas resources will result in China becoming a major net importer. As well as helping to satisfy the country's growing demand for energy, the growth of the gas supply should reduce dependence on coal and thus reduce the level of atmospheric pollution in the cities. The achievement of these ambitions is likely to be severely constrained by the government's continuing failure to draw-up a coherent policy and regulatory framework for the gas industry. In the absence of clear incentives, potential investors in exploration, development, transport, distribution and consumption are unlikely to invest at the rate expected by the government.
TL;DR: The authors assesses the oil potential of the Caspian Sea and concludes that with a long-term production that would contribute roughly 3 percent to future global oil supply, the Sea will never be a strategic alternative to the Arab Gulf and that it is destined to play a supporting role rather than a deciding one in supplying the world oil markets in the future.
Abstract: The Caspian Sea has been over-promoted by some as a new Middle East, and as an alternative global supplier to the Arab Gulf. Others, by contrast, see it as an overstated high-risk oil province that will remain, to a great extent, isolated from world markets. The reality, as always, is somewhere in between. This paper assess es the oil potential of the Caspian Sea. It argues that with ultimate reserves of 40 to 60 billion barrels (bb),the Caspian Basin does not pose a major challenge to the supremacy of the Arab Gulf as a pivotal supplier of oil to world markets. It concludes that with a long-term production that would contribute roughly 3 percent to future global oil supply, the Caspian will never be a strategic alternative to the Arab Gulf and that it is destined to play a supporting role rather than a deciding one in supplying the world oil markets in the future.