Ghana: revival of the mineral sector

After almost two decades of decline, Ghana's mineral sector has rebounded significantly and is currently the main foreign exchange earner. Gold mining is the principal activity within the sector and accounted for 41 percent of total export earnings in 1996. This paper presents an overview of Ghana's mineral industry and covers mineral resources, production and reserves; mining investments; the role of mining in the economy; and the structure of the industry. An overview of the national mineral policy is also presented to depict the current regulatory and fiscal environment in which the industry operates. The spectacular reversal in mineral sector performance can be attributed to the adoption of World Bank recommendations in a new national mineral policy, the 1986 Minerals and Mining Law, aimed at revitalizing the sector.     

Economic risk and mineral taxation on Indigenous lands

Mining generates risk of environmental and social harm for Indigenous peoples but can also generate substantial revenues for them, creating opportunities for community development in a context where economic and social disadvantage is the norm. Especially as mining revenues should, in part, compensate for mining’s negative social and environmental impacts, it is vital that mineral taxation on Indigenous lands reflect a careful assessment of appropriate tax mechanisms and a matching of these with community priorities. Yet little has been written that could serve as a guide for Indigenous decision makers. This article contributes to an understanding of the issues and choices facing Indigenous communities in designing mineral taxation regimes, by focusing on the question of economic risk. Risk arises as a key variable in choosing or designing a mineral taxation regime in three ways. Different approaches to mineral taxation are inherently more or less risky, in the sense that they are more or less certain to generate tax revenues. A second aspect of risk involves the degree of economic certainty or predictability associated with different types of commodities and projects. Third, the risk tolerance of Indigenous peoples and communities can vary significantly. We show how Indigenous groups can integrate and address these different dimensions of risk, by recognising the ‘risk consequences’ associated with different approaches to mineral taxation and choosing an approach that reflects, as fully as possible, the group’s risk tolerance.     

Japan's develop-for-import policy

Much of the world's remaining mineral resources lie within the underdeveloped nations of the Third World. The current crisis of confidence characterized in international investment and trade in extractive resources has become detrimental to both the resource-rich developing countries and the resource-hungry industrialized countries. Japan is one nation that has developed a strategy to foster mutual trust and to restore confidence in the international extractive industries. This paper examines Japan's develop-for-import policy, ‘kaihatsu yunso’, and its design, implementation and effects on securing foreign resources supplies.     

US strategic minerals: Policy options

The USA is becoming increasingly dependent on key strategic metals (such as chrome, cobalt, manganese and platinum-group metals) from politically unstable regions of the world. This dependence is the result of an inconsistent and fragmented US non-fuel minerals policy. Neglect of the US minerals industry has led to a decline in US mineral production and processing capabilities. Options for a comprehensive US non-fuel minerals policy include increased domestic production; increased substitution and recycling; a domestic stockpiling programme; and diversification of, and ensured access to, foreign sources of supply. These four options are examined and recommendations are made for increased mineral surveys of public lands, a regulatory review, domestic production of strategic minerals, tax incentives, conservation, stockpiling, and a foreign policy that will ensure security of supply.     

Assessing the long-term supply risks for mineral raw materials—a combined evaluation of past and future trends

This paper develops a method for identifying and assessing long-term supply risks for mineral raw materials. The method is based on a combined evaluation of past and future supply and demand trends. By analysing raw material boom and bust cycles over the past 50 years, we have quantified indicators and defined benchmarks for identifying critical market situations. By applying the method, risks for supply shortage may be identified at an early stage. In addition, a numerical evaluation model has been developed for better comparison between various mineral raw materials. Compared to other assessment methods this method uses specific benchmarks for each raw material to better assess supply risks. The method is embedded within a systematic and comprehensive analytical approach.     

The current status of the US mining industry

The US economy annually needs over 4 billion tons of new mineral supplies. The value of domestically produced energy and processed materials of mineral origin exceeds $175 billion annually, but domestic production of both raw and processed minerals is not keeping pace with demand.     

我国矿产资源的合理开发利用

我国是世界上矿产资源总量丰富、种类较齐全的国家之一。由于人口众多,矿产资源人均占有量不到世界人均占有量的1/2。作者根据中国的矿情提出立足国内,合理利用国内、国外两种资源;增产与节约并重,提高矿产品深加工,加强综合利用,重视二次资源的回收,增加地勘投资,加强地勘工作。     

Green accounting and sustainability of the Peruvian metal mining sector

This paper estimates 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). The total depletion of natural capital caused by metal mining is calculated by estimating, on the one hand, the depreciation of mining resources (using the Hotelling rent approach) and, on the other, the environmental degradation provoked by metal mining activities. The results show that the total loss of natural capital represents between 31% and 51% of the metal mining GDP and between 2% and 4.9% of Peru’s GDP. On the other hand, correcting the usual GDP measure produced by the traditional National Account System (NAS) for the total loss of natural capital caused by mining activities shows that the GDP traditional measure overestimated by 51–64% the true economic income generated by Peruvian's metal mining sector during the period 1992–2006. The importance of the generation, taxation, and disposition of mining economic rents for Peru’s sustainable development in the future is also discussed.     

我国矿产资源的现状及保护对策

本文着重讲述了我国矿产资源的特点,全面分析了我国矿产资源的现状,并 提出缓解矿产资源危机的一些对策。     

Antartic minerals: A common heritage approach

The potential value of Antarctic mineral resources, including petroleum, has already spurred efforts by the Antarctic Treaty powers to establish a legal and technical regime for minerals. Management and control of Antarctic minerals need not, however, be left to the countries that have staked territorial claims or otherwise been active in Antarctica. Possible mineral regimes include open access (or first-come, first-served) and a variety of multilateral and international approaches. This article suggests that a common heritage approach would be most suitable for Antarctica and, despite opposition to such an approach among the Antarctic Treaty powers, would be a practical solution to the mineral development issue. The time for international organizations to act to establish such a common heritage regime is, however, growing short.     

International policies on the economic resources of the deep-seabed

The resources of the seabed and ocean floor beyond the limits of national jurisdiction were declared the ‘common heritage of mankind’ by the United Nations General Assembly. This article discusses the mineral resources located in this area and how the commercial availability of such resources was perceived to affect national interests. Although the exploitation of these resources would have benefited all states, some more than others, such exploitation was seen to have conflicting consequences on national interests in the light of the North-South dialogue in which trade and access to raw materials played a central role. The factual basis for these different national interests is examined by a discussion of the possible impact of mineral production from the deep-seabed on world markets and the policies implemented in the Convention on the Law of the Sea to ensure these interests are evaluated.     

可用作原料的固体废物进口可行性评价指标体系探索研究

合理利用境外的可用作原料的固体废物,可以弥补我国国内资源的相对不足,但固体废物固有的废物属性仍不可避免地会带来一定的环境负面影响。建立可用作原料的固体废物进口可行性评价体系,对于在合理利用境外废物资源的同时,保护和改善环境具有重要意义。本文论述了我国建立可用作原料的固体废物进口可行性评价体系的理论和原则,并根据影响可用作原料的固体废物进口可行性评价的因素分析,构建了可用作原料的固体废物进口可行性评价指标体系框架。     

A natural analogue for CO2 mineral sequestration in Miocene basalt in the Kuanhsi-Chutung area, Northwestern Taiwan

In general, CO₂ sequestration by carbonation is estimated by laboratory experimentation and geochemical simulation. In this study, however, estimation is based on a natural analogue study of the Miocene basalt in the Kuanhsi-Chutung area, Northwestern Taiwan. This region has great potential in terms of geological and geochemical environments for CO₂ sequestration. Outcropping Miocene basalt in the study area shows extensive serpentinization and carbonation. The carbon stable isotopes of carbonates lie on the depleted side of the Lohmann meteoric calcite line, which demonstrates that the carbonates most probably precipitate directly from meteoric fluid, and water–rock interaction is less involved in the carbonation process. Oxygen stable isotope examinations also show much depleted ratios, representative of product formation under low temperatures (∼50–90 °C). This translates to a depth of 1–2 km, which is a practical depth for a CO₂ sequestration reservoir. According to petrographic observation and electron microprobe analysis, the diopside grains in the basalt are resistant to serpentinization and carbonation; therefore, the fluid causing alteration is likely enriched with calcium and there must be additional sources of calcium for carbon mineralization. These derived geochemical properties of the fluid support the late Miocene sandstone and enclosed basalts as having high potential for being a CO₂ sequestration reservoir. Moreover, the existing geochemical environments allow for mineralogical assemblages of ultramafic xenoliths, indicating that forsterite, orthopyroxene and feldspar minerals are readily replaced by carbonates. Based on the mineral transformation in xenoliths, the capacity of CO₂ mineral sequestration of the Miocene basalt is semi-quantitatively estimated at 94.15 kg CO₂ chemically trapped per 1 m³ basalt. With this value, total CO₂ sequestration capacity can be evaluated by a geophysical survey of the amount of viable Miocene basalt at the potential sites. Such a survey is required in the near future.     

Mineral resources appraisal and policy: Controversies,issues and the future

Political-economic events of the 1970s brought mineral resource appraisal to the focus of national policy. Estimates of and methodologies for mineral resources appraisal were scrutinized, revealing deficiencies in method and data and fostering considerable debate about the credibility of estimates and about preferred methodology. Since credibility can be increased through the acquisition of additional geoscience information, questions regarding methodology have more than one formulation and therefore more than one correct solution, depending upon the expected value of additional information and the conditional losses of relevant policy options. When existing information is meagre and the expected value of information is high, the optimum decision may be to defer all policy options until after the acquisition and analysis of- additional information. Decision theory offers an analytical framework that is sufficiently generalized to provide answers for highly varied circumstances of geoscience and resource information and policy issues. Our ability to perform any such analysis is limited by inaccuracies in both geologists' estimates of undiscovered mineral resources, and in economists' calculations of conditional losses of policy options for each of the relevant states of mineral resources.     

The value of mineral resources: Perspectives and conflicts

The concept of value is central to mineral economics as it is all branches of economics. In the minerals sphere particular problems are posed for a theory of value by, firstly, the non- renewability of mineral resources, secondly the substantial effort that must be made to convert a mineral into a useful product, and finally the perception of minerals, both economically and symbolically, as peculiarly national forms of wealth. Some thoughts are offered on different approaches to mineral resource valuation and on the frequently conflicting principles of exploitation to which these various approaches give rise.     

Mine capacity and mineral price

The loss of foreign mineral supplies may affect domestic supply and price. To investigate the assumption that prices, a simple mine investment model that relates mine capacity to deposit attributes is used. A test of the model to see how well it approximates industry investment practice illustrates its accuracy. The model suggests that price changes can substantially affect the optimal capacity of planned or existing mines as well as the mineral supply in the USA.     

Soviet non-fuel mineral resources : Surplus or scarcity?

The USSR has long been regarded as a resource-rich country with no need for external sources of non-fuel mineral resources. Increasingly, however, it is beginning to appear that such an assessment of the Soviet non-fuel mineral resource picture is overly optimistic. The Soviet mineral industry is beset by a variety of problems which complicate the extraction and utilization of needed minerals. The USSR remains a resource-rich country, but the difficulties it encounters exploiting its resources are multiplying. This article examines the Soviet aluminium, chromium, cobalt, copper, gold, iron, lead, manganese, platinum, titanium and zinc industries, and offers views of the Soviet resource future in each area.     

Raw material problems of the Soviet aluminium industry

The Soviet Union possesses a huge hydro-electric power potential in southern Siberia, providing attractive sites for aluminium reduction capacity, but is poorly supplied with high-grade domestic bauxite resources. An early enthusiasm for the use of non-bauxitic domestic materials, notably nepheline and alunite, has waned in recent years, and Soviet aluminium planners have shown an increasing preference for imports of bauxite and alumina. By 1975 as much as 40% of Soviet aluminium production was derived from imported raw materials, indicating an unusual willingness to become dependent on foreign ore sources for this strategic metal. Future intentions are demonstrated by the abandonment of earlier plans for an expansion of non-bauxite based production, the construction of a large alumina plant on the Black Sea coast and proposals for a second seaboard plant on the Pacific coast, both using imported bauxite.     

CO-OPERATION BETWEEN CMEA-MEMBER COUNTRIES OVER MINERAL RESOURCES

The Council for Mutual Economic Assistance is providing a base for raising its members' reserves and production of fuels and mineral raw materials through co-operation. The authors outline the framework for this co-operation, highlight the special role of the resources of the U.S.S.R. and provide illustrations of the co-operative projects under implementation or planning.     

Geoconservation versus legislation and resources policy: New achievements,new questions—Comment on Cairncross (Resources Policy, 2011) The National Heritage Resource Act (1999): Can legislation protect South Africa's rare geoheritage resources?

In his recent article, Cairncross identified problems with legislation relevant to the conservation of national geological heritage. This permits us to pose some more general questions, which are not addressed in the noted contribution. The example given by Cairncross indicates some pitfalls linked with the “all-inclusive” nature of legislation in which geological heritage is mixed with cultural heritage. Are such laws really helpful? Even if they are inevitable, they should be prepared with great caution. Moreover, it appears sensible to discuss whether particular geological objects or geodiversity as a whole should be legally conserved. Cairncross also proposes the interesting idea of a special fund/agency for purchasing rare mineral specimens for museums. This raises a set of questions about selection criteria for minerals to be purchased, types of market to be dealt with, number of fund/agency staff, necessary financial resources, and the administration of such purchasing schemes. Broad multi-stakeholder debates are necessary in order to establish the proposed fund/agency and to facilitate its efficient work.