Simulating Direct and Indirect Damages to Commercial Fisheries from Marine Sand Mining: A Case Study in Korea |
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Authors: | Tae-guon Kim Thomas Grigalunas |
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Institution: | (1) Department of Agricultural Economics, Mississippi State University, P.O. Box 5187, Mississippi State, MS 39762, USA;(2) Department of Environmental and Natural Resource Economics, University of Rhode Island, Kingston, RI 02881, USA |
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Abstract: | Rapid growth in marine sand mining for construction and other uses poses environmental challenges to coastal nations virtually
worldwide. Yet the development of management policies, such as a system of fees imposed on operators for damage caused by
mining, has been frustrated by a lack of studies to support such measures. Adapting a Beverton-Holt bioeconomic model, this
paper attempts to contribute to the estimation of external costs to commercial fisheries due to marine mining. Using the major
mining area of Ongjin in Korea as a case study, we estimate economic losses in use value of commercial fisheries through the
time to recovery of the injured resource stocks. Present value of lost catch over a 1-year period from mining to resource
recovery is estimated at $38,851 for a single “prototype” mining site. Estimated cumulative damages due to recurring mining
for 5 and 10 years are $1.5 million and $2.2 million, respectively, at 20 mining sites. Sensitivity analyses are used to examine
the effects of alternative assumptions to assess the many sources of uncertainty. Using a form of meta-analysis, dose-response
information is used to assess the excess mortality the mining sediment plume has on eggs and larvae and, ultimately, on the
value of lost catch ($841). Also addressed is the importance of specifying the appropriate “premining” conditions against
which to assess environmental losses at the mining site. Damages estimated with premining fish populations are $23,066 higher
than is the case using postmining conditions. Overall, the illustrative results suggest the variety of complex conditions
which influence damage to fisheries from mining and which can benefit from further study to improve management guidelines.
An erratum to this article can be found at |
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Keywords: | Marine sand mining Bioeconomic model Habitat recovery Plume effects Damage assessment External costs of mining |
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