Financial assurance and mine closure: Stakeholder expectations and effects on operating decisions

Financial assurance is increasingly seen as a means to ensure orderly, clean and lasting closure of mines. Broadly interpreted, “closure” requires leaving viable ecosystems on mining lands that are compatible with a healthy environment and with human activities, that have low hazard, and that encompass measures to prevent ongoing pollution from the site in the long-term. Financial assurance encompasses environmental surety instruments that protect the government and public in the event a mining company cannot meet its reclamation or rehabilitation obligations. As such, financial assurance is in essence the money available for closure of the mine in the case when the mine owner is not available to perform the work. A general trend towards greater environmental concern among social stakeholders in mining further serves to focus attention on policies and practices that can actually “assure” financial assurance.Financial assurance is also perceived as a means to address closure-related challenges that are increasing in number as well as diversity. Notably, current trends involve a shift towards a greater focus to the societal aspects of mine closure rather than just the ecological. The use of financial assurance, however, also raises some fundamental questions about how assurance mechanisms influence mining operations and the relationship between mining operations and their surroundings. This paper examines both the internal effect of a variety of financial assurance approaches on mining operations—in particular the manner in which environmental and social concerns are addressed by mining firms, and the almost inevitable tension between some form of financial provision for closure on the one hand, and governmental expectations of tax revenue on the other. As a major argument for supporting the conduct of mining is that state revenues from the extractive industries supply monies for the building of human and infrastructural capital, this second area of tension also has strong social and developmental overtones.     

The whole relationship between environmental variables and firm performance: Competitive advantage and firm resources as mediator variables

The examination of the possible direct link between environmental protection and firm performance in the literature has generally produced mixed results. The present paper contributes to the literature by using the resource-based view as a mediating process in this relationship. The study specifically tests whether or not the resource-based view of the firm mediates the positive relationships of proactive environmental management and improved environmental performance with competitive advantage, which also has consequences for financial performance. We also check the possible link between the adoption of a pioneering approach and good environmental management practices. Our findings support that early investment timing and intensity in environmental issues impact on the adoption of a proactive environmental management, which in turn helps to improve environmental performance. The findings also show that a firm's resources and competitive advantage act as mediator variables for a positive relationship between environmental protection and financial performance. This contribution is original because the present paper develops a comprehensive whole picture of this path process, which has previously only been partially discussed in the literature. In addition, this study clarifies a relevant point in the literature, namely that the effect of environmental protection on firm performance is not direct and can vary depending on the sector considered. Whereas competitive advantage in relation to costs influences financial performance in the IPPC law sector, the relevant influence in the hotel sector comes from competitive advantage through differentiation.     

Evaluation of environmental feasibility of steel pipe sheet pile cutoff wall at coastal landfill sites

An evaluation method that can express the local leakage of leachate from joint sections in steel pipe sheet pile (SPSP) cutoff walls is discussed in this study. In particular, the evaluation of environmental feasibility (containment of leachates containing toxic substances) considering a three-dimensional arrangement and hydraulic conductivity distribution of the joint sections in the SPSP cutoff wall is compared with an evaluation that uses the equivalent hydraulic conductivity. This equivalent hydraulic conductivity assumes that the joint section and the steel pipe are integrated; therefore, the hydraulic conductivity is substituted with a uniform permeable layer. However, in an evaluation that employs the equivalent hydraulic conductivity, it is difficult to consider the local leakage of leachate containing toxic substances from the joint sections in the SPSP cutoff wall. It was established that evaluations of the environmental feasibility of SPSP cutoff walls with joint sections must take into account the local leakage of leachates containing toxic substances from the joint sections. Also, it was clarified that technologies that lower the hydraulic conductivities of joint sections in SPSP cutoff walls and also facilitate the use of sparser joint arrangements contribute significantly to increasing the environmental feasibility of SPSP cutoff walls at landfill sites.     

黑龙江省森林碳汇市场构建的可行性设计

随着全球森林碳汇市场市场份额扩大,黑龙江省凭借资源和区位等内在优势,森林碳汇市场发展前景可观。基于市场原则和组织框架的构建设想,依据市场定位和产品开发,对黑龙江省森林碳汇市场发展的可行性分阶段设计,提出适合的保障机制,为黑龙江省森林碳汇市场运行提供理论参考和现实依据。     

DYNAMICS OF SIMULATED EFFECTS OF IRRIGATION OVER DRYLAND FARMING IN SASKATCHEWAN1

ABSTRACT: Irrigation development in Saskatchewan was initiated as an instrument to bring forth regional stability through drought proofing and diversification in the agricultural sector. This development has been surrounded by controversies. Particularly, some critics questioning its economic value to the farmer. In this study, irrigation on a farm is compared as a growth alternative to the expansion of dryland farming. Under relatively conservative machine replacement policies, modest family withdrawals, government subsidized irrigation loans, and relatively favorable gross operating margins, irrigation can be a profitable undertaking in the South Saskatchewan River Basin.     

对小纸厂碱回收可行性的初步评价

本文对小型造纸厂的碱回收在技术上和经济上的可行性进行了分析,作出了当前是中、小型造纸厂搞碱回收的有利时机的初步评价。     

Fostering sustainable small-scale investments: lessons from experience and ideas for intervention and innovation

This article presents lessons from experience pertinent to implementing small-scale natural resource and related investment projects in developing countries. It outlines ideas for intervention and innovation to foster such investments. Particular emphasis is placed on private-sector participation in these investments. Following a brief presentation of the economic development and other arguments that support intervention and innovation in support of such small-scale natural resource investments, the article discusses many of the lessons learned from experience. These lessons reinforce those touched upon in the investment-specific discussions in the previous articles. The experience and associated lessons that are examined include experiences in both developing and developed countries and encompass not just lessons from natural resource investments, but also small-scale investments in other sectors. Financing and other innovations which facilitate meeting the challenges are drawn from relevant experience where barriers to investment have been surmounted. Options for programme and project interventions to increase market penetration of small-scale investments and achieve the associated development linkages and synergies are suggested. These suggestions are aimed especially at governments and bilateral and multilateral development finance and development assistance entities. It is those players who might support such interventions in collaboration with local financial institutions and other market players.     

垃圾场渗出污水厌氧处理的可行性研究

采用血清瓶静态试验法研究了垃圾渗出污水的厌氧处理的可行性。试验表明:垃圾渗出污水对厌氧发酵微生物无抑制作用,有良好的厌氧降解性,产气率为0.321/g·COD,污水中的大部份有机物都能被厌氧消化,COD_cr去除率为78.2%,发酵过程中还能获得能源——沼气。具有良好的应用前景。     

FINANCING PRIVATE WATER RESOURCE DEVELOPMENT: ANALYSIS OF A STATE LOAN PROGRAM1

ABSTRACT. A State loan program was analyzed for its effects on groundwater development in Wyoming. The analysis focused on the effects of low-interest State financing on the economic feasibility of investments in center-pivot sprinkler irrigation systems. The feasibility analysis indicated that investments in sprinkler systems for production of cash crops are highly profitable, and would frequently be carried out whether or not the State loan program were available. Investments in sprinklers for production of forage crops are perhaps frequently made attractive by the loan program. Thus, while the program appears to have accelerated the pace of private water resource development in Wyoming, it has also subsidized some investments that would have been carried out regardless of the program's existence. Further analysis indicated that sprinkler investments carried out with State financing contribute substantially to firm growth when cast crops are grown, but have less marked, and sometimes negative, effects on growth when forage crops are produced. Some positive effects of the loan program on southeast Wyoming's regional economy were noted, though a complete empirical analysis of regional impacts was beyond the scope of the study.     

Current and Future Strategies for Water and Wastewater Management of Istanbul City

Istanbul has experienced rapid increases in population to more than 12 million people, which has created infrastructure problems of water supply and wastewater treatment and disposal. In this article, the achievements and approaches of the Istanbul Water and Sewerage Administration (ISKI) to solve the water shortage problem and to improve services are summarized. Istanbul had a very severe water shortage problem in 1994 because of ignorance of the implementation of the needed projects. After reviewing the reasons and causes of the problem, new priority criteria adopted after 1994 are given. Following the implementation of the projects determined according to the aforementioned criteria, water supplied has exceeded the water demand. The added capacity is equal to one to three times of the capacity built up to 1994 for water treatment, service reservoirs, pumping stations, transmission lines, and the water distribution network; water quality has been improved the meet local and international potable water standards. Unaccounted for water has been reduced from 60% to 27%. The percentage of treated wastewater has been increased from 10% to 90% in 8 years, resulting in drastic improvements and rehabilitation of the Golden Horn and coastal water quality. Through improved customer services, complaints were reduced from 33% in 1994 to 0.3%. Some of the main criteria and the approaches behind this success are summarized. Published online