The growth of develop-for-import projects

This article examines develop-for-import projects financed by development loans and mixed credits supplied by export-import banks and other financial institutions of the central governments of France, Japan and the Federal Republic of Germany. The projects discussed are those producing bauxite, alumina, aluminium, chromium, copper, iron, manganese, molybdenum, nickel and tungsten, in developing market economies, Australia and Canada. The article estimates the volume of these metals committed to France, Japan and FRG to pay for loans and credits, examines the types of financial arrangement involved in develop-for-import projects, and considers the compatibility of these arrangements with the multilateral liberalized world trading system developed by the General Ageement on Tariffs and Trade (GATT) over the past 40 years. To the extent that these arrangements do not fully reflect changes in international market forces, world trade in metals will tend to be distorted and discriminatory.     

Evaluating a small deposit next to an economically viable gold mine in West Africa from the points of view of the mining company,the government and the local community

This paper addresses the question of evaluating how much the different stakeholders stand to gain from a mining project. By carefully analysing the breakdown of the cash-flows generated, we were able to estimate the amounts received by the local community and by the national community (outside the mining area), the taxes and royalties received by the government and the profits made by the mining company. A real options framework was used to take account of the inherent uncertainty on the commodity price and the reserves, and the operating flexibility (that is, the possibility for the company to stop mining if the commodity price drops and/or the reserves prove to be lower than that had been envisaged). A synthetic case-study of a gold mine in West Africa was used to illustrate how this procedure could be applied in practice. By using the real option framework we were able to envisage scenarios for developing an extension to a deposit as a function of future values of the commodity price. The procedure proposed should provide governments and NGOs with more objective data for making policy decisions.     

The Worldwide Availability of Fluorspar

This paper reviews a recent assessment of fluorspar reserves and resources for 13 market economy countries and the People's Republic of China, and how they relate to the overall availability of fluorspar on the world market. Current world production, consumption and world trade issues are discussed.
Nearly 5 million tonnes of fluorspar were produced in 1985, and approximately 60% of that enters the world export market. In recent years world trade has started to shift away from the acid, metallurgical and ceramic grades of fluorspar, as ore-producing countries look towards higher-value downstream products.
Total potentially recoverable fluorspar from 52 major producing mines and deposits is estimated at nearly 95 million tonnes (as of January 1985). The Republic of South Africa accounts for 31% of the reserves, with Mexico and the People's Republic of China each contributing 18%.
The average total cost and availability of fluorspar is evaluated. Approximately 75% of acid-grade fluorspar evaluated is potentially available at or below a 1985 constant-dollar cost of US$110 tonne⁻¹. Nearly 94% of metallurgical grades are potentially available at costs of US$75 tonne⁻¹ and below, and virtually all of the ceramic grades could be produced at costs below the 1985 reported market price of US$103 tonne⁻¹.     

Environmental leadership plus total quality management equals continuous improvement

Xerox was one of the first U.S. companies to discover that environmentally sound practices not only result in good community relations, but also often more than pay for themselves. This case study describes the application of the quality process to environmental management at Xerox and shows how a focus on prevention, employee involvement, teamwork, and the use of quality principles and tools can improve profitability for any company.     

The experience of waste minimization at a nitrocellulose manufacturing plant

This article describes how Taiwan nitrocellulose industrial company (TNC) applies the structured methodology developed by the U.S. environmental protection agency (USEPA) to reduce, recycle and recover the wastes generated at its Taoyuan plant. The company has generated significantly less amounts of wastes, improved the competitiveness in the international market and met more stringent environmental regulations since conducting the minimization program in the late 1980s. The experience gained at the Taoyuan plant is being applied to other plants in China and Philippines.     

Insurance sector management of climate change adaptation in three Nordic countries: the influence of policy and market factors

The insurance industry is important for facilitating climate change adaptation. Insurance companies’ involvement is, however, influenced by national adaptation policy. The literature suggests that especially policy factors – government interventions, political priorities and public–private cooperation – and market factors – cost offset, cost mitigation, planning flexibility and business opportunities – shape private actor approaches. To increase the understanding of insurance company involvement in adaptation, this study examines how insurance companies’ approaches are influenced by policy and market factors in three countries: Denmark, Norway and Sweden. The study found that the policy factors tested significantly shaped the approaches of the companies assessed, while market factors currently appear less influential. This is likely due to the absence of climate risk and adaptation in political debates and among insurance policyholders. The study discusses the potential role of the insurance industry in adaptation governance and suggests how barriers facing insurance companies could be overcome.     

Spoken but not Heard: the promise of the precautionary principle for natural resource development

Too often, mining developments provide short-term jobs and taxes, and long-term environmental and community degradation. The 'precautionary principle', as practised by the European Union and increasingly by other nations, may provide an opportunity for local communities and others who bear the brunt of mining to employ a cautionary approach to mine permitting. Using the case of the Zortman-Landusky gold mine in Montana, the article illustrates how the precautionary principle might have precluded the tremendous losses suffered by the Fort Belknap residents who live near the now abandoned mine. The Native Americans and other protestors against the mine were correct in their worries about mine drainage affecting their watercourses and the precautionary principle might have limited mine development. The case also illustrates that economic data on mining companies need to go well beyond simple reclamation bond capability in order to avoid bankruptcy resulting in the neighbours and the government having to pay for clean-up.     

The carajas iron ore project: The strategy of a third world state- owned enterprise in a depressed market

This paper describes how the Carajas iron ore project was set up in February 1985 at a time of deep recession in the iron ore and steel industries. Development of the project was met with much criticism, mainly from North American steel makers, who argued that the project would only be successful through the support of a Third World government, highly dependent on foreign exchange, without any consideration being given to its economic feasibility or to the fundamentals of the market. The authors explain why the World Bank took the step of setting up the project and how its development can be partly explained by the interests of the Japanese and European steel makers. The role of the Brazilian government is explained and the authors conclude that the relatively low rate of investment anticipated by the project will be overshadowed by the high gains in foreign exchange.     

Stockholm Recommendation 96: Viable in the Dominican Republic

Summary The Dominican Republic and other Caribbean countries face serious challenges to their natural resource base. In recent years the government of the Dominican Republic has taken major steps toward the development and implementation of a comprehensive plan for national natural resources management. This plan is called Plan Sierra. An important component of this plan is the outline of actions for carrying out an environmental education programme within the country. This demonstrates a commitment to fulfill Recommendation No. 96 of the Stockholm Conference in a way that could become a model for other Latin American nations. Clinton L. Shepard is Assistant Professor in the Division of Environmental Education, School of Natural Resources, The Ohio State University. Dr Shepard holds a Bachelor of Science degree in Zoology from the University of Kentucky and graduate degrees from The Ohio State University in Natural Resources/Environmental Education and Education-Foundations and Research. He has worked as an interpreter and Environmental Education Coordinator for the State of Ohio Department of Natural Resources, a research associate for ERIC—Science, Math, and Environmental Education Clearinghouse, and College instructor in interpretive methods, environmental education methodology, resident outdoor programming, and natural resources development. He is also involved in international research and development, especially in the Caribbean Basin. Robert E. Roth is Chairman/Professor in the Division of Environmental Education, School of Natural Resources, The Ohio State University. Dr Roth received a Bachelor's degree in Wildlife Management, a Bachelor's degree in Secondary Science Education, a Master's degree in Conservation Education from The Ohio State University, and his Ph.D. in Environmental Education from The University of Wisconsin. he came to OSU in 1969 and since that time has designed and institutionalized the only academic unit in the US that offers both well developed undergraduate and graduate programmes in Environmental Communications, Education and Interpretation and has published over 40 works in the field. He has been instrumental in implementing a growing international environmental education research and development emphasis in the wider Caribbean, he continues as an Executive Editor of theJournal of Environmental Education.     

Supporting major new nickel developments: can Western Australia do it again?

As with several other metals, the recession of the early 1990s combined with events in the former Soviet Union, placed major strains on the world nickel market and made the operation of several established mines uneconomic. The subsequent world economic recovery, combined with the emergence of new mining and processing technologies, seems at face value to have opened the way for new and expanded nickel mines in Western Australia to expand their share of world production. Against the background of an established oligopolistic market structure and major nickel finds elsewhere, this study assesses the likelihood of major new nickel developments taking place.     

The nickel industry: Continued response to a changing environment

The world nickel market has slowly evolved from domination by the International Nickel Company (Inco) into a competitive structure. Presently, the nickel industry is characterized by product surpluses and low prices. The change in structure and the current state of the industry has resulted from the price strategy followed by the leading nickel producers, a general decline in market development expenditures, certain characteristics of developing nickel producing capacity and several unforeseen events. Examination of these factors can help in developing policy options aimed at improving the future of the industry.     

基于环境保护的机动车税优化建议

当前区域性大气污染问题突出,机动车使用造成的污染问题不可忽视。为解决区域性的大气污染问题,机动车税费的污染减排调控功能日益被政府和学者重视。研究围绕"如何使机动车税更好发挥环境保护的效果"的问题,比较了中日机动车税的结构和性质,分析了在购买、保有和使用等不同环节的机动车税的特点以及环保效果,并基于问卷调查分析中国私家车主不同环节机动车税的负担情况。研究表明,在机动车使用环节征收的成品油消费税污染调控效果要优于其他环节的税收;对商业用途的机动车使用征税仅有收入功能没有调控功能,建议将机动车相关税的作用重心从购买环节转移到使用环节上,并对商业用途和私人用途的机动车实施差别税率。     

Spoken but not Heard: The promise of the precautionary principle for natural resource development

Too often, mining developments provide short-term jobs and taxes, and long-term environmental and community degradation. The 'precautionary principle', as practised by the European Union and increasingly by other nations, may provide an opportunity for local communities and others who bear the brunt of mining to employ a cautionary approach to mine permitting. Using the case of the Zortman-Landusky gold mine in Montana, the article illustrates how the precautionary principle might have precluded the tremendous losses suffered by the Fort Belknap residents who live near the now abandoned mine. The Native Americans and other protestors against the mine were correct in their worries about mine drainage affecting their watercourses and the precautionary principle might have limited mine development. The case also illustrates that economic data on mining companies need to go well beyond simple reclamation bond capability in order to avoid bankruptcy resulting in the neighbours and the government having to pay for clean-up.     

The impact of commodity price risk management on the profits of a company

It is well recognized that for the producing companies hedging the commodity price using financial products like forwards or futures has become an important part of the company's production process. But apart from the direct impacts of hedging on the production and hedging costs the use of financial products affects the financing of the company: hedging the volatile commodity prices leads to a reduction of the risk premium the company has to pay for its debt capital, since hedging contributes to more confidence of the investors in the redemption of the debt. In this paper we therefore analyze this dependency of hedging and financing and derive optimal hedging extents for companies in different market situations based on a long-term model. By hedging the commodity price, companies can realize a surplus in profits. Thereby, the optimal hedging extent for a monopolist is often up to 100%, whereas for companies in a polypolistic market the optimum is always less than 100%. These results are illustrated by examples for a producing company.     

Viability of processing in copper-mining areas : An economic analysis

Although copper is exported mainly in the form of semi-refined or refined copper, exports of copper in the form of ores and concentrates increased their share of world copper exports in the 1970s. These exports mainly originate from copper-mining areas with limited access to the inputs required for stages subsequent to mining. This article surveys the options open to copper-producing countries to increase their revenue from copper, and concludes that changes in the composition of exports to favour the export of more processed forms of copper would require substantial changes in the economic structure of a country. Trade barriers are not felt to constitute a substantial obstacle to world trade in refined or semi-fabricated copper.     

中国农业温室气体减排潜力及其政策意涵

通过农业温室气体减排GTAP-E模型及其数据库构建,模拟了中国农业温室气体减排潜力及其政策意涵,其结论为：农业温室气体减排5%,我国GDP将降低0.059%,社会福利将提高11.6亿美元;水稻的价格上升22.08%,其他农作物价格上升2.9%;牛羊类的价格上升163.43%,猪禽类的价格上升0.57%,其他畜产品价格下降0.98%。农业温室气体减排5%降低了我国农产品在国际市场上的竞争力,使得农产品的出口大大下降,但是却提高了其他部门的出口,导致我国净出口增加了45.5亿美元,农业征收排放税的税收收入为223.11亿美元。     

Continuous improvement at EG&G: The waste reduction pays (WARP) initiative

EG&G is a Fortune 200 company with annual sales of $2.7 billion. It designs and manufactures laboratory and field-test instruments and electronic and mechanical components for commercial customers. EG&G provides systems engineering, precision component manufacturing, and test-site operating and management services to many government agencies and laboratories. It employs 34,000 people worldwide. Recognizing the need to improve its business practices as they related to environmental excellence, EG&G initiated policies, procedures, and programs to establish itself as an environmentally responsible company. Waste reduction was designated priority number one in EGG's environmental program. Our major customers are also making waste reduction a high visibility program. For example, on August 3, 1993, the president signed Executive Order 12856 making pollution prevention at federal facilities a goal of this administration. This article describes the EG&G Waste Reduction Pays (WARP) program, developed for use by all its operating entities, and why it is a model program to implement Executive Order 12856. It also depicts how the implementation of the program at federal facilities differs, in some respects, from that at other EG&G operating units.     

A comparison of biodegradable municipal waste (BMW) management strategies in Ireland and the Czech Republic and the lessons learned

In order to meet the recycling and recovery targets set forth by the European Union's (EU) Waste and Landfill Directives, both the Irish and Czech governments’ policy on waste management is changing to meet these pressures, with major emphasis being placed upon the management of biodegradable municipal waste (BMW). In particular, the EU Landfill Directive requires reductions in the rate of BMW going to landfill to 35% of 1995 values by 2016 and 2020 for Ireland and the Czech Republic, respectively. In this paper, the strategies of how Ireland and the Czech Republic plan to meet this challenge are compared. Ireland either landfills or exports its waste for recovery, while the Czech Republic has a relatively new waste management infrastructure. While Ireland met the first target of 75% diversion of BMW from landfill by 2010 and preliminary 2012 data indicate that Ireland is on track to meet the 2013 target, the achievement of the 2016 target remains at risk. Indicators that were developed to monitor the Czech Republic's path to meeting the targets demonstrate that it did not meet the first target that was set for 2010 and will probably not meet its 2013 target either. The evaluation reports on the implementation of Waste Management Plan of Czech Republic suggest that the currently applied strategy to divert biodegradable waste from landfill is not effective enough. For both countries, the EU Waste Framework and Landfill Directives will be a significant influence and driver of change in waste management practices and governance over the coming decade. This means that both countries will not only have to invest in infrastructure to achieve the targets, but will also have to increase awareness among the public in diverting this waste at the household level. Improving environmental education is part of increased awareness as it is imperative for citizens to understand the consequences of their actions as affluence continues to grow producing increased levels of waste.     

Weyerhaeuser implements new chemical management program

Weyerhaeuser is one of the largest forest products companies in the world, with extensive business holdings in timberland, pulp, paper, packaging, recycling, wood products, and real estate. Process chemical management issues of its major manufacturing pollutants have been continually addressed at its 200 locations throughout North America. Still, the company needed to expand its management focus to the cleaners, paints, and other chemical-based supplies that it used. This article describes how Weyerhaeuser initiated a corporate-wide chemical management program, secured senior management backing and funding, and is now in the midst of achieving broad-based employee buy-in for full implementation.