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.     

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.     

Economic assessment of managing processionary moth in pine forests: a case-study in Portugal

This paper assesses the private and social profitability of current strategies for managing processionary moth (Thaumetopoea pityocampa) in Portuguese pine forests, looking at economic and environmental costs and benefits. Costs include the expenses for forest treatment and the social costs of threats to human health (dermatitis amongst others); benefits are assessed in terms of both revenue and social benefits such as carbon fixation and recreation. The evaluation was done using Cost Benefit Analysis (CBA) as an analytical framework. While this tool is currently applied to forest and environmental assessment and specific applications to pest management strategies are to be found in agricultural economics, rather few attempts have been made in the field of forest pest management. In order to assess and compare with--without options, a case-study was analysed for the Setúbal Peninsula, south of Lisbon, an area where extensive stands of maritime pine (Pinus pinaster) grow. The exercise has shown that CBA can be a valuable tool for assessing the economic and social profitability of pest management. The results demonstrate that the loss of revenues in the no-management option is not sufficient to make pest management profitable for private forest owners in the short-term. Conversely, a social profit is gained as pest management minimizes health risks for humans and avoids possible recreational losses.     

Assessing water use and quality through youth participatory research in a rural Andean watershed

Water availability, use and quality in a rural watershed of the Colombian Andes were investigated through participatory research involving local youth. Research included the quantification of disaggregated water use at the household level; comparison of water use with availability; monitoring water quality of streams, community water intakes and household faucets; and the determination of land use – water quality interactions. Youth were involved in all aspects of the research from design to implementation, dissemination of results and remediation options. Quantification of domestic and on-farm water use, and water availability indicated that water availability was sufficient during the study period, but that only an 8% decrease in dry season supply would result in shortages. Elevated conductivity levels in the headwaters were related to “natural” bank erosion, while downstream high conductivity and coliform levels were associated with discharges from livestock stalls and poorly maintained septic tanks in the stream buffer zone. Through the involvement of youth as co-investigators, the knowledge generated by the research was appropriated at the local level. Community workshops led by local youth promoted water conservation and water quality protection practices based on research, and resulted in broader community participation in water management. The approach involving youth in research stimulated improved management of both land and water resources, and could be applied in small rural watersheds in developed or developing countries.     

Multi-criteria analysis via the VIKOR method for prioritizing land-use restraint strategies in the Tseng-Wen reservoir watershed

It is important to adopt proper water and soil conservation and land-use planning in a watershed for lowering adverse impacts on reservoir water quality. Although reservoir watersheds occupy a large amount of land in Taiwan, high population density has exerted development pressures on such land. Therefore, the priority ranking of land-use restrictions for the subdivisions with different degrees of environmental vulnerability is necessary in watershed management. Since there are several criteria for evaluating the potential environmental impact from the subdivisions, multi-criteria analysis was applied as a technique for solving these problems in this study. The VIKOR method was applied to determine the best feasible solution according to the selected criteria, including geographical and meteorological factors. The objective of this study was to establish the priority ranking of land-use restrictions in the Tseng-Wen reservoir wastershed in southern Taiwan. The results show that subdivisions close to the outlet or reservoir area should have the priority of land-use restrictions.     

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.     

Woodland restoration in Scotland: ecology, history, culture, economics, politics and change

In the latter half of the 20th century, native pine woodlands in Scotland were restricted to small remnant areas within which there was little regeneration. These woodlands are important from a conservation perspective and are habitat for numerous species of conservation concern. Recent developments have seen a large increase in interest in woodland restoration and a dramatic increase in regeneration and woodland spread. The proximate factor enabling this regeneration is a reduction in grazing pressure from sheep and, particularly, deer. However, this has only been possible as a result of a complex interplay between ecological, political and socio-economic factors. We are currently seeing the decline of land management practices instituted 150-200 years ago, changes in land ownership patterns, cultural revival, and changes in societal perceptions of the Scottish landscape. These all feed into the current move to return large areas of the Scottish Highlands to tree cover. I emphasize the need to consider restoration in a multidisciplinary framework which accounts not just for the ecology involved but also the historical and cultural context.     

可靠性技术的发展与应用

本文介绍了可靠性标准体系与参数体系,可靠性的分析与设计方法,可靠性试验的发展趋势,指出可靠性管理是产品可靠性工作的核心,以及提高电子设备可靠性的发展策略。     

海油陆采HSE管理初探＊

文章阐述了国内外海油陆采HSE管理现状,通过分析总结滩海油气生产设施从设计到投入使用全过程HSE管理经验,归纳整理出可借鉴的HSE管理技术,为中国石油海油陆采油田HSE文化的培育提供了有益的建议。     

炼化企业大检修作业的环保管理

以克拉玛依石化公司为例,对检修作业前环境危害因素进行了辨识,提出了检修前、检修期间环保管理的措施,从废气、废水、噪声、固废四个方面详细介绍了大检修期间进行污染控制的具体措施,分析了大型炼化企业在停工大检修作业期间存在的环境影响因素,提出了大检修作业期间的环保管理内容及污染控制措施。