Showing papers in "Minerals & Energy - Raw Materials Report in 2004"
TL;DR: In this article, the authors reviewed how the large-scale mining industry has performed in the developing world economy and examined the performance of the industry more precisely through case study analysis of sub-Saharan Africa, Asia/Eastern Europe and Latin America.
Abstract: This paper critically reviews how the large‐scale mining industry has performed in the developing world economy. The strategies adopted by a number of developing world governments in recent years to promote foreign investment in mineral exploration and extraction activities raises the question of how multinational mining companies have approached environmental and associated challenges. Although codes of practice and regulatory agencies are generally in an impoverished and piecemeal state throughout the developing world, representatives from regional governments nevertheless expect multinational mining corporations to engage in environmental best practice and contribute to local community development in exchange for their licenses to export minerals. After reviewing the impacts of mining in the developing world economy, the performance of the industry is examined more precisely through case study analysis of sub‐Saharan Africa, Asia/Eastern Europe and Latin America.
41 citations
TL;DR: In this article, two rent-driven political economy models are deployed to analyse the performance of four oil-exporting countries (Angola, Venezuela, Indonesia and Algeria) to explain the disappointing oil-driven development in Angola and Venezuela, and also the apparent anomaly of Indonesian development during 1966-96.
Abstract: Rents form a relatively high share of GDP in developing countries (from 15-50%), so that differences in the scale of the rent and in its distribution among economic agents profoundly affect the evolution of the political economy. This paper deploys two rent-driven political economy models to analyse the performance of four oil-exporting countries (Angola, Venezuela, Indonesia and Algeria). The low-rent model provides a counter-factual for the high-rent model, which typifies most oil-exporters. The low-rent model sustains rapid per capita GDP (PCGDP) growth that brings endogenous democratisation, which is incremental. In contrast, high-rent countries tend to deploy the rent in ways that lock the economy into a staple trap, which aborts competitive economic diversification and represses sanctions against anti-social governance. These adverse staple trap features are heightened in oil-exporting countries because they tend to have very high natural resource rent, which is easily extracted by governments. However, a growth collapse may abruptly trigger political and economic reform if exogenous factors are favourable. This paper applies the models to explain the disappointing oil-driven development in Angola and Venezuela, and also the apparent anomaly of Indonesian development during 1966-96. It concludes by outlining with reference to Algeria a dual track strategy to circumvent the political obstacles that prevent reform in a rent-distorted political economy.
19 citations
TL;DR: In this paper, the authors consider several of the key reasons that appear to be important to the recent Chilean success story and consider how these fit in with suggested policy strategies suggested by the World Bank, and also by Ross (2001).
Abstract: While the copper industry has had an important role in Chile's economic development for more than 150 years, a dramatic increase in copper production has provided the base for strong new growth and development since the late 1980s. The recent Chilean success supports the traditional view of the positive relationship between mineral exploitation and mineral development. As such, it provides a strong counter example to the resource curse thesis, recently proposed by several authors. Using a simple policy framework outlined by Weber‐Fahr (2002), this paper considers several of the key reasons that appear to be important to the recent Chilean success story. It then proceeds to consider how these fit in with suggested policy strategies suggested by the World Bank, and also by Ross (2001).
14 citations
TL;DR: In this article, the authors examined the employment and social perspectives of women in the mineral industry and overviewed the Indian Mines Act for providing employment to female miners, highlighting the socioeconomic characteristics of women as miners and on the productive roles they play in mining.
Abstract: India ranks among the top ten mineral producing nations in the world. This paper investigates mineral production and focuses on the total value of minerals produced in the country. However, mining is seen as one of the most 'masculine' of industries and it is believed that women play an insignificant role in it. The paper examines the employment and social perspectives of women in the mineral industry and overviews the Indian Mines Act for providing employment to female miners. It also investigates the employment of women in coal, lignite and metalliferous mines and discusses the impact of mining in the female community. The study reveals that women take part in mining in non-traditional activities and there is a tendency to conceal the fact that women comprise an important part of the work force. The paper highlights the socioeconomic characteristics of women as miners and on the productive roles they play in mining. It also reviews the prospect of female miners with more involvement in the industry and ...
11 citations
TL;DR: In this paper, the authors examined if the Coase theorem can be applied to analyze if the deforestation caused by bauxite mining in Jamaica can be amended towards optimal resource management.
Abstract: Bauxite mining is considered to be one of the most significant reasons behind deforestation in Jamaica. During the last decades, large areas of forest have been cleared on the island due to open pit mining for bauxite. Because private landowners own the bauxite land, the operating mining companies are in many cases forced to bargain with the private landowners to obtain access to the desired land. Several economic theories present solutions to the problem of sustainable resource use. The purpose of this paper is to examine if the Coase theorem can be applied to analyze if the deforestation caused by bauxite mining in Jamaica can be amended towards optimal resource management. The paper concludes that there exist no practical obstacles for bargaining to take place. However, since the market for bauxite mining is not characterized by perfect competition, an efficient allocation of the Jamaican forests according to the Coase theorem is not achieved. Yet we find that the antiquated Coase theorem can help us g...
6 citations
TL;DR: In this paper, the authors explored the underlying forces that have driven both the rise and the fall of TVE coalmines and found that the earlier rise of TVEs was forced upon the nation to accommodate its crying need for economic development.
Abstract: The ‘economic miracle’ of township and village owned enterprises (TVEs) in China has led to claims that China's success has depended on the prosperity of TVEs and also that they are expected to be the major source of growth in China's future development. Since the late 1990s, however, the Chinese government has implemented an extensive TVE closure policy. This paper, based on case studies on China's TVE coalmines in particular and the entire coal industry in general, explores underlying forces that have driven both the rise and the fall of TVE coalmines. It has found that the earlier rise of TVE coalmines was forced upon the nation to accommodate her crying need for economic development. The subsequent fall, however, became inevitable when China was forced to confront the further challenges of transition and globalisation. The struggle between pro‐ and anti‐ closure of TVE coalmines reflects the enormous difficulty for China to cope with the tangled challenges from development, transition and globalisatio...
5 citations
5 citations
TL;DR: The mining code of Colombia (Law 685/2001) as discussed by the authors is a contribution to the ongoing modernisation process in the mining sector, the aim of which is to develop a regulatory framework which can be used as an instrument to attract investment.
Abstract: During the past 40 years, developing countries with non‐renewable natural resources have sought to develop their mining industries along lines parallel with the political climate current at the time. In the 1970s, the Colombian government followed the current trend in the developing world when they opted for direct participation, as owner‐operator in the exploitation of natural resources, especially coal, deeming it to be of great importance in Latin America. However in the 1990s, the country, in line with a changing global trend, adopted policies that focused its strategy on regulation of the mining sector, while leaving the operational risk in the hands of the private sector. The role of the state was redefined from ‘owner operator’ to ‘regulator’. The new mining code of Colombia (Law 685/2001) is a contribution to the ongoing modernisation process in the mining sector, the aim of which is to develop a regulatory framework which can be used as an instrument to attract investment. This paper will attempt...
5 citations
TL;DR: In market oriented economies like the OECD countries, such policy actions are warranted only to rectify exist... as mentioned in this paper, the energy sector has since long been a popular playground for political interventions.
Abstract: The energy sector has since long been a popular playground for political interventions. In market oriented economies like the OECD countries, such policy actions are warranted only to rectify exist ...
5 citations
TL;DR: In this paper, the authors reconstruct the view of the European Commission regarding the allowance of a merger between two Brazilian iron ore mining companies, CVRD and Caemi, using data on the DRI pellet market.
Abstract: This paper reconstructs the view of the European Commission regarding the allowance of a merger between two Brazilian iron ore mining companies, CVRD and Caemi, using data on the DRI pellet market. By using a simulation model, it is possible to directly simulate the total welfare effects from the merger and hence evaluate the merger from a new perspective. The results from the simulations suggest that the welfare effects are negative from the merger between CVRD and Caemi, which contradicts the final conclusion drawn by the European Commission in its decision. By performing different simulations between hypothetical merger candidates, our results show that only mergers between small candidates have the potential to be welfare enhancing.
4 citations
TL;DR: In this article, the authors provide an analysis of aggregates production in the United States (US), showing the stability in the industry's historical data with respect to number of mines and employees, total production, and the value of the mineral.
Abstract: Natural aggregates, primarily stone, sand and gravel, provide essential material for society. They are a major basic raw material used by construction, agriculture, and industries employing chemical and metallurgical processes. Over the last century, the growth of cities and towns and the construction and maintenance of the highways connecting them have created demand for enormous amounts of natural aggregates. This paper provides an analysis of aggregates production in the United States (US), showing the stability in the industry's historical data with respect to number of mines and employees, total production, and the value of the mineral. It then discusses the challenges that the aggregates industry continues to face, including transportation, recycling, financing and public relations, with responses that maintain its fundamental stability.
TL;DR: In this article, the authors deal with the development of underground coal mining industry in the Czech Republic during the last decade and discuss the course of phasing out mining and liquidation of coal mines, including subsequent ecological and safety problems connected with the mines liquidated.
Abstract: This contribution deals with the development of the underground coal mining industry in the Czech Republic during the last decade. The course of phasing out mining and liquidation of underground coal mines, including subsequent ecological and safety problems connected with the mines liquidated is described here. A new method of an underground mine liquidation – stowing by hydraulic stowing manufactured on the basis of industrial wastes processed is mentioned.
TL;DR: In this paper, the authors examined the success of basic copper exploration carried out during the last three decades in Argentina, Chile and Peru, based on data published in different specialized mining books or magazines.
Abstract: This article, based on a presentation at the Metal Bulletin's 16th International Copper Conference in Algarve, Portugal, February 2003, examines the success of basic copper exploration carried out during the last three decades in Argentina, Chile and Peru. The paper is based on data published in different specialized mining books or magazines. It mainly includes those discoveries important at a world or regional scale, not the lesser discoveries important at the local scale. The economic impact of these discoveries is presented here regarding the exploration expenditures, the value of the mineral resources identified, the investments and metals production generated. It finalizes with a review of expected future trends for the Central Andes region.
TL;DR: In this article, the strong world demand is bailing out the struggling iron ore mines in the United States, while North American capacity is contracting, which is a very different reality from ours.
Abstract: Iron ore mining is facing two very different realities in 2003. Seaborne shipments to world markets are booming while North American capacity is contracting. China's growing demand for high‐quality imports is stunning major suppliers. The strong world demand is bailing out the struggling iron ore mines in the United States?