Showing papers in "Resources Policy in 2010"

TL;DR: The authors presented the results from a landmark study on historical trends in Australian mining, including ore milled, ore grades, open cut versus underground mining, overburden/waste rock and economic resources.

TL;DR: In this article, the authors analyzed the relationship between the crude oil price and the gold price with a positive correlation coefficient of 0.9295 during the sampling period, from January of 2000 to March of 2008.

TL;DR: In this article, the macroeconomic determinants (business cycle, monetary environment and financial market sentiment) of the volatility of four precious metals (gold, silver, platinum and palladium) are investigated.

TL;DR: In this article, a modified econometric version of the long-term trend reverting jump and dip diffusion model for forecasting natural resource commodity prices is proposed, which addresses the deficiencies of previous models, such as jumps and dips as parameters and unit root test for longterm trends.

TL;DR: In this paper, the strengths, weaknesses, opportunities and threats faced by the mining and mineral exploration industry when adopting environmental management practices are analyzed and policy recommendations both for the government and industry are presented.

TL;DR: The metals boom that ran from 2003 to 2008 represented the most powerful and sustained such boom since the Second World War as discussed by the authors and the notion began to emerge that commodities were at the beginning of a multi-year "super cycle" driven by demand growth in the emerging economies and, in particular, China.

TL;DR: In this article, the issue of land tenure and how it influences artisanal and small-scale mining (ASM) activity in Ghana is examined and shown to contribute significantly towards proliferation of illegal ASM activity and hence potentially challenges attempts by governments and development partners to formalise the sector.

TL;DR: Botswana merits study here both as a significant potential exception to any posited inevitability of the Dutch disease and also because the debate on whether or not Botswana has avoided the Dutch Disease is far less settled than is indicated by its economic growth record.

TL;DR: This article used a long time-series (1900-2007) on 21 metals prices to investigate their properties, and presented unique features of their volatility, including a decomposition into within-and between-group components.

TL;DR: The importance of a secured supply of raw materials for the European economy is evident as discussed by the authors, however, securing the supply of the raw materials based on an appropriate EU minerals policy has been scarcely treated by the decision-makers in the last decades.

TL;DR: In this paper, the authors analyze the effect of mining on economic and social development in the region of Antofagasta from 1985 to 2008, and propose a hypothesis that the coexistence of high income levels and inequalities is not a result of insufficient resources but of a lack of commitment to development by the main regional stakeholders.

TL;DR: A detailed System Dynamics model provides fresh insight into the helium question and suggests a production path that is closely associated with future natural gas production as discussed by the authors, indicating that improving resource exploitation strategies might extend a production plateau that emerges in the 2030s.

TL;DR: The authors analyzes two efforts by Kennecott (Rio Tinto) and one by Exxon to develop base metal mine sites in the Upper Midwest of the USA, showing that both sides are using ever more sophisticated media methods to communicate their message to the undecided residents of the community.

TL;DR: In this paper, the true economic income of Peru's metal mining sector for the period 1992-2006, using a model of green economic income based on Hamilton (2000), was calculated by estimating, on the one hand, the depreciation of mining resources (using the Hotelling rent approach) and on the other, environmental degradation provoked by metal mining activities.

TL;DR: In this paper, the authors focused on the aggregates production in 26 European countries and collected data from available sources and combined them for a 10-year period (1997-2006) to provide a clear view of the major attributes of this vital industrial sector.

TL;DR: In this article, the authors focus on a sample of 20 DJ-AIG commodity future indices and conclude that returns series either over-react or under-react to new market information, which disconfirms the efficiency market hypothesis in its weak form.

TL;DR: In this paper, the authors suggest that the new mining law will do little to improve the situation and that it is unlikely that Indonesia will become a preferred destination for mining investment in the foreseeable future.

TL;DR: Cortazar et al. as mentioned in this paper proposed a multicommodity model that jointly estimates two commodities, one with much longer maturity futures contracts than the other, showing that futures prices of one commodity may be useful information for estimating the stochastic process of another.

TL;DR: In this paper, the authors used a panel data approach to analyze labor productivity in the copper mining sector in Chile and Peru from 1992 to 2009 and found that better deposits and operational factors are important, but not enough to explain labor productivity improvements in the mining industry, and instead, company specific efforts and wide industry changes such as technology and management innovations, are as important as the evolution of the reserve base or geological features of the operations.

TL;DR: Cuddington et al. as discussed by the authors proposed a simple and quick method for obtaining corrected price trends from the published but uncorrected estimates, and showed that for the case of copper and presumably for many other commodities as well, the difficulties of obtaining real price trends significantly different from zero when the log values of the price data contain a unit root, requiring the use of difference stationary models.

TL;DR: In this article, the authors examined ex-post 51 investment decisions made in regard to copper mines coming on stream from 1957 through 1999, and found that fewer than half of decisions were made at the right time confirming countercyclical investment as the optimal policy.

TL;DR: In this paper, the marginal cost of public funds (MCPF) for Peru using a detailed computable general equilibrium (CGE) model was estimated using tax data from the Global Trade Analysis Project (GTAP) as modified to include detailed tax information from the Peruvian Ministry of Economy and Finance and the Internal Revenue Service.

TL;DR: In this article, the authors discuss the Royalty Act in the context of its background, the underlying theory and fundamental principles, and argue that the fundamental principles on which the Act is based are sound, but raise a concern on potentially high compliance and reporting costs.

TL;DR: The viability of Australian PGM projects is very sensitive to metal prices, the US$/A$ exchange rate, and the large capital expenditure requirements relative to the small size of PGM-only deposits as mentioned in this paper.

TL;DR: In this paper, the authors analyze the evolution of Canada's mining industry from 1929 to 2006, focusing on the determinants of the number of firms in the industry and why this number changed over that period.

TL;DR: In this paper, the authors extend a Vector Error Correction model estimated by the Brazilian Ministry of Justice, which eventually came to reinforce the definition of the relevant geographic market and to test for structural breaks in the price series.

TL;DR: In this paper, a transition path from an imperfect initial state to an initial state compatible with the standard steady state consumption path is presented, in particular, a Pareto inferior path of consumption per capita.

TL;DR: In this paper, the authors use a general equilibrium model of a monetary economy to understand the economics behind the correlation between ination and oil futures returns, and they find that the correlation is extremely sensitive to the reaction of the central bank to output shocks, while the reaction to ination changes is less signiable.

TL;DR: In this article, the authors investigated how Korean industry would respond to four different allocation and banking options in CO2 permit trading within a fully dynamic computational general equilibrium framework, and the two key conclusions are (i) the Korean economy should replace an absolute allocation with a performance-based allocation, and (ii) the banking of permits enables market players to reallocate allowances more efficiently in a long-term commitment period.