Pub Date : 2024-12-02DOI: 10.1016/j.resourpol.2024.105413
Usman Ahmad , Ameenullah Aman , Azam Anwer Khan , Syed Emad Azhar Ali
The Netherlands considers focuses on optimal exploitation of mineral resources for achieving long-term Sustainable Development Goals (SDGs). As a result, crowdfunding investment is becoming more recognized as an important method of financing and promoting the United Nations SDGs. However, there has been little research on sustainable crowdfunding, particularly on mineral resource optimization and the impact of behaviour aspects. Therefore, the goal of this study is to determine how behaviour factors influence the subjective well-being of sustainable crowdfunding in mineral resources using fintech in the form of robo advisors to achieve sustainable development goals. This study aims to examine a research model that encompasses the key five personality traits, value on SDGs, subjective well-being, and role of robo-advisor. The findings indicate that two out of five personality traits have the greatest impact on the SDGs. Moreover, the study highlights the impact of agreeableness on SDGs and people's subjective well-being. The findings also emphasizes that the robo-advisor has a strong moderating effect on personality traits and subjective well-being.
{"title":"Optimizing crowdfunding for mineral resources of Dutch economy: The role of fintech in achieving sustainable development goals through artificial intelligence","authors":"Usman Ahmad , Ameenullah Aman , Azam Anwer Khan , Syed Emad Azhar Ali","doi":"10.1016/j.resourpol.2024.105413","DOIUrl":"10.1016/j.resourpol.2024.105413","url":null,"abstract":"<div><div>The Netherlands considers focuses on optimal exploitation of mineral resources for achieving long-term Sustainable Development Goals (SDGs). As a result, crowdfunding investment is becoming more recognized as an important method of financing and promoting the United Nations SDGs. However, there has been little research on sustainable crowdfunding, particularly on mineral resource optimization and the impact of behaviour aspects. Therefore, the goal of this study is to determine how behaviour factors influence the subjective well-being of sustainable crowdfunding in mineral resources using fintech in the form of robo advisors to achieve sustainable development goals. This study aims to examine a research model that encompasses the key five personality traits, value on SDGs, subjective well-being, and role of robo-advisor. The findings indicate that two out of five personality traits have the greatest impact on the SDGs. Moreover, the study highlights the impact of agreeableness on SDGs and people's subjective well-being. The findings also emphasizes that the robo-advisor has a strong moderating effect on personality traits and subjective well-being.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"100 ","pages":"Article 105413"},"PeriodicalIF":10.2,"publicationDate":"2024-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142759284","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-12-01DOI: 10.1016/j.resourpol.2024.105426
Mehmet Akif Destek , Mohammad Razib Hossain , Müge Manga , Gamze Destek
The conventional thinking states that pervasive government corruption may turn resource plenty in resource-rich countries into a burden. These issues may surface, particularly when the public sector uses conventional procedures. Based on this, the research looks at how the public sector's digitalization might aid in resolving this issue. Specifically, economic growth, trade openness, economic complexity index, public sector size, and the impacts of digitalization are assessed in relation to their reliance on natural resources for 16 nations that are vulnerable to the “curse of the natural resource” Furthermore, the moderating influence of digitalization on the link between the growth of the public sector and the resource curse is investigated. In this case, the years 1995–2021 are investigated using the CS–ARDL methodology, and the robustness of the results is evaluated using the Moments Quantile Regression method. The CS-ARDL approach's findings indicate that trade openness, public sector size, and economic progress all correlate with increased resource reliance. However, as the economy becomes more complex and digitalized, resource dependency declines. Additionally, it is demonstrated that the interaction term parameter between digitalization and the growth of the public sector is negative, indicating that digitalization within the public sector has the potential to counteract the growing reliance of the sector on resources.
{"title":"Can digital government reduce the resource dependency? Evidence from method of moments quantile technique","authors":"Mehmet Akif Destek , Mohammad Razib Hossain , Müge Manga , Gamze Destek","doi":"10.1016/j.resourpol.2024.105426","DOIUrl":"10.1016/j.resourpol.2024.105426","url":null,"abstract":"<div><div>The conventional thinking states that pervasive government corruption may turn resource plenty in resource-rich countries into a burden. These issues may surface, particularly when the public sector uses conventional procedures. Based on this, the research looks at how the public sector's digitalization might aid in resolving this issue. Specifically, economic growth, trade openness, economic complexity index, public sector size, and the impacts of digitalization are assessed in relation to their reliance on natural resources for 16 nations that are vulnerable to the “curse of the natural resource” Furthermore, the moderating influence of digitalization on the link between the growth of the public sector and the resource curse is investigated. In this case, the years 1995–2021 are investigated using the CS–ARDL methodology, and the robustness of the results is evaluated using the Moments Quantile Regression method. The CS-ARDL approach's findings indicate that trade openness, public sector size, and economic progress all correlate with increased resource reliance. However, as the economy becomes more complex and digitalized, resource dependency declines. Additionally, it is demonstrated that the interaction term parameter between digitalization and the growth of the public sector is negative, indicating that digitalization within the public sector has the potential to counteract the growing reliance of the sector on resources.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105426"},"PeriodicalIF":10.2,"publicationDate":"2024-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142742904","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-12-01DOI: 10.1016/j.resourpol.2024.105418
Kangho Kim , Jinsoo Kim
This study evaluates the adequacy of copper stockpiles managed by the Korean government and proposes an economically optimal level from a strategic perspective. The Disruption-Risk model, a methodology that aims to maximize the net benefit of stockpiling by considering potential future demand and supply disruptions, was employed in this analysis. The analysis showed that stockpiling an additional 2400 metric tons above Korea's current target is an economically optimal strategy. Moreover, the sensitivity analysis showed that it is a rational decision for the government to engage in stockpiling activities rather than the private sector. It was found that it is essential to continuously increase and maintain stockpiles in line with Korea's evolving policy direction. The findings of this study employ statistical methods based on historical disruption data, which allows for a comparison with the prevailing approach to calculating stockpiles in Korea, which is based on demand assumptions. These findings can serve as a basis for Korea's copper stockpiling policy and can be utilized to enhance resource security in preparation for possible future scenarios.
{"title":"Optimum level of Republic of Korea copper stockpile using disruption risk model","authors":"Kangho Kim , Jinsoo Kim","doi":"10.1016/j.resourpol.2024.105418","DOIUrl":"10.1016/j.resourpol.2024.105418","url":null,"abstract":"<div><div>This study evaluates the adequacy of copper stockpiles managed by the Korean government and proposes an economically optimal level from a strategic perspective. The Disruption-Risk model, a methodology that aims to maximize the net benefit of stockpiling by considering potential future demand and supply disruptions, was employed in this analysis. The analysis showed that stockpiling an additional 2400 metric tons above Korea's current target is an economically optimal strategy. Moreover, the sensitivity analysis showed that it is a rational decision for the government to engage in stockpiling activities rather than the private sector. It was found that it is essential to continuously increase and maintain stockpiles in line with Korea's evolving policy direction. The findings of this study employ statistical methods based on historical disruption data, which allows for a comparison with the prevailing approach to calculating stockpiles in Korea, which is based on demand assumptions. These findings can serve as a basis for Korea's copper stockpiling policy and can be utilized to enhance resource security in preparation for possible future scenarios.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105418"},"PeriodicalIF":10.2,"publicationDate":"2024-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142742899","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-12-01DOI: 10.1016/j.resourpol.2024.105412
Muhammad Farhan Bashir , Madiha Bashir , Luqman Shahzad
Amidst the efforts to balance economic growth and climate change concerns, natural resource consumption accounts for environmental degradation. The current study deliberates on ecological sustainability by examining how natural resource consumption, digitalization, and institutional governance impact environmental degradation in natural resource-dependent economies. Our econometric findings from CS-ARDL report that natural resource consumption and economic growth lead to environmental deterioration, while digitalization developments and institutional governance safeguard environmental sustainability. Similar findings are endorsed by robustness analysis to help propose novel environmental policy frameworks.
{"title":"Natural resource abundance, digitalization and institutional governance: The critical challenges towards net-zero transformation","authors":"Muhammad Farhan Bashir , Madiha Bashir , Luqman Shahzad","doi":"10.1016/j.resourpol.2024.105412","DOIUrl":"10.1016/j.resourpol.2024.105412","url":null,"abstract":"<div><div>Amidst the efforts to balance economic growth and climate change concerns, natural resource consumption accounts for environmental degradation. The current study deliberates on ecological sustainability by examining how natural resource consumption, digitalization, and institutional governance impact environmental degradation in natural resource-dependent economies. Our econometric findings from CS-ARDL report that natural resource consumption and economic growth lead to environmental deterioration, while digitalization developments and institutional governance safeguard environmental sustainability. Similar findings are endorsed by robustness analysis to help propose novel environmental policy frameworks.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105412"},"PeriodicalIF":10.2,"publicationDate":"2024-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142742905","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-12-01DOI: 10.1016/j.resourpol.2024.105419
Marco Baudino
This study examines the threshold and moderating effects of oil rents on renewable energy consumption in OPEC+ members for different financial development indicators. For this, dynamic panel threshold and GMM estimators are employed for the time period 1999-2019. The empirical findings of the analysis reveal significant and negative threshold and moderating effects for financial market and total financial development, but not for financial institution development. Specifically, oil rents are found to reduce renewable energy consumption, with this negative effect becoming more pronounced at higher levels of financial market and total financial development. Overall, the results do not support the energy transition theory for OPEC+ members for which revenues from oil rents are transferred toward renewable energy investments. Rather, the presence of lobbying influences and inadequate support from financial markets and institutions is validated. These findings provide an additional debating point on the role of oil endowments on sustainable growth.
{"title":"Oil rents, renewable energy and the role of financial development: Evidence from OPEC+ members","authors":"Marco Baudino","doi":"10.1016/j.resourpol.2024.105419","DOIUrl":"10.1016/j.resourpol.2024.105419","url":null,"abstract":"<div><div>This study examines the threshold and moderating effects of oil rents on renewable energy consumption in OPEC+ members for different financial development indicators. For this, dynamic panel threshold and GMM estimators are employed for the time period 1999-2019. The empirical findings of the analysis reveal significant and negative threshold and moderating effects for financial market and total financial development, but not for financial institution development. Specifically, oil rents are found to reduce renewable energy consumption, with this negative effect becoming more pronounced at higher levels of financial market and total financial development. Overall, the results do not support the energy transition theory for OPEC+ members for which revenues from oil rents are transferred toward renewable energy investments. Rather, the presence of lobbying influences and inadequate support from financial markets and institutions is validated. These findings provide an additional debating point on the role of oil endowments on sustainable growth.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105419"},"PeriodicalIF":10.2,"publicationDate":"2024-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142742900","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-12-01DOI: 10.1016/j.resourpol.2024.105423
Laura Buarque Andrade , Max Frenzel , Britta Bookhagen , Carolin Kresse , Michael Schmidt , Nedal Nassar , Elisa Alonso , Ensieh Shojaeddini , Dirk Sandmann
Recently, there has been considerable recent controversy whether current and new lithium mines will be able to supply the rapidly growing needs of the electromobility transition. Mineral exploration projects are typically active for many years, and only some become operational mines. From exploration to production, the projects go through several stages of characterisation and evaluation. At each stage, decisions are made by companies and stakeholders to advance, continue or stop the project. This is a complex process, and even projects with very similar geological and technical characteristics may take very different trajectories, depending on external factors such as global market conditions and local regulatory environments. The present study investigates the dynamics of this process for lithium exploration projects. A global database of 397 lithium projects was compiled, covering their progression through major development stages between 2004 and 2022. Ordinal logistic regression was used for the statistical analysis of this data. Different explanatory variables were tested, including economic, geological, technical, and geographic factors, to identify the best predictors for project progress at each development stage. The results suggest an essential role for lithium carbonate prices, and a variable role for other factors at each stage. Critically, the already elapsed lead time and project economics, which are traditionally considered important for the prediction of the start-up of individual mines, do not appear to be relevant in all cases. The results provide important insights into the dynamics of lithium supply and may eventually allow more realistic forecasts to be made for future lithium market dynamics.
{"title":"From exploration to production: Understanding the development dynamics of lithium mining projects","authors":"Laura Buarque Andrade , Max Frenzel , Britta Bookhagen , Carolin Kresse , Michael Schmidt , Nedal Nassar , Elisa Alonso , Ensieh Shojaeddini , Dirk Sandmann","doi":"10.1016/j.resourpol.2024.105423","DOIUrl":"10.1016/j.resourpol.2024.105423","url":null,"abstract":"<div><div>Recently, there has been considerable recent controversy whether current and new lithium mines will be able to supply the rapidly growing needs of the electromobility transition. Mineral exploration projects are typically active for many years, and only some become operational mines. From exploration to production, the projects go through several stages of characterisation and evaluation. At each stage, decisions are made by companies and stakeholders to advance, continue or stop the project. This is a complex process, and even projects with very similar geological and technical characteristics may take very different trajectories, depending on external factors such as global market conditions and local regulatory environments. The present study investigates the dynamics of this process for lithium exploration projects. A global database of 397 lithium projects was compiled, covering their progression through major development stages between 2004 and 2022. Ordinal logistic regression was used for the statistical analysis of this data. Different explanatory variables were tested, including economic, geological, technical, and geographic factors, to identify the best predictors for project progress at each development stage. The results suggest an essential role for lithium carbonate prices, and a variable role for other factors at each stage. Critically, the already elapsed lead time and project economics, which are traditionally considered important for the prediction of the start-up of individual mines, do not appear to be relevant in all cases. The results provide important insights into the dynamics of lithium supply and may eventually allow more realistic forecasts to be made for future lithium market dynamics.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105423"},"PeriodicalIF":10.2,"publicationDate":"2024-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142742906","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-11-26DOI: 10.1016/j.resourpol.2024.105415
Xiaoyu Zhang , Yanling Xi
Private investment and green finance have significantly influenced the fossil fuel industries in various countries. This study investigates the impact of green finance and private investment on fossil fuel rents in 20 major carbon-emitting nations from 2000 to 2020. Using ARDL estimation, findings reveal that a 1% increase in green finance reduces fossil fuel rents by 0.37% in the short term and 0.40% in the long term, driven by greater investments in sustainable energy. Conversely, a 1% increase in private investment leads to a 0.17% short-term and 0.23% long-term rise in fossil fuel rents, indicating limited private green investment. To address this gap, the study recommends policies such as green bond incentives, strengthened ESG reporting, improved financial risk management, enhanced business climates, digitalization of green financial markets, and sustainable governance in the fossil fuel sector.
{"title":"Green finance, private investments and fossil fuels rents","authors":"Xiaoyu Zhang , Yanling Xi","doi":"10.1016/j.resourpol.2024.105415","DOIUrl":"10.1016/j.resourpol.2024.105415","url":null,"abstract":"<div><div>Private investment and green finance have significantly influenced the fossil fuel industries in various countries. This study investigates the impact of green finance and private investment on fossil fuel rents in 20 major carbon-emitting nations from 2000 to 2020. Using ARDL estimation, findings reveal that a 1% increase in green finance reduces fossil fuel rents by 0.37% in the short term and 0.40% in the long term, driven by greater investments in sustainable energy. Conversely, a 1% increase in private investment leads to a 0.17% short-term and 0.23% long-term rise in fossil fuel rents, indicating limited private green investment. To address this gap, the study recommends policies such as green bond incentives, strengthened ESG reporting, improved financial risk management, enhanced business climates, digitalization of green financial markets, and sustainable governance in the fossil fuel sector.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105415"},"PeriodicalIF":10.2,"publicationDate":"2024-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142703428","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-11-25DOI: 10.1016/j.resourpol.2024.105389
Yu Li , Wei Wei
This paper explores the link between education expenditure from both public and private sectors and the alleviation of the resource curse in 11 OPEC countries from 2000 to 2020. Utilizing the PMG-ARDL estimator, the study finds that a 1% increase in state education investment results in a 0.08% short-term and a 0.17% long-term rise in oil rent. In contrast, a 1% increase in private education investment leads to a 0.10% decrease in short-term and a 0.35% decrease in long-term oil rent. The research highlights the positive effects of GDP growth, trade volume, and electricity consumption in promoting economic diversification. The findings suggest that OPEC nations should enhance private sector education investments and focus on “greening” education to foster sustainable development and economic resilience.
{"title":"Evidence of the relationship between education expenditure by state and private sectors on solving resource curse in OPEC member countries","authors":"Yu Li , Wei Wei","doi":"10.1016/j.resourpol.2024.105389","DOIUrl":"10.1016/j.resourpol.2024.105389","url":null,"abstract":"<div><div>This paper explores the link between education expenditure from both public and private sectors and the alleviation of the resource curse in 11 OPEC countries from 2000 to 2020. Utilizing the PMG-ARDL estimator, the study finds that a 1% increase in state education investment results in a 0.08% short-term and a 0.17% long-term rise in oil rent. In contrast, a 1% increase in private education investment leads to a 0.10% decrease in short-term and a 0.35% decrease in long-term oil rent. The research highlights the positive effects of GDP growth, trade volume, and electricity consumption in promoting economic diversification. The findings suggest that OPEC nations should enhance private sector education investments and focus on “greening” education to foster sustainable development and economic resilience.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105389"},"PeriodicalIF":10.2,"publicationDate":"2024-11-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142702951","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-11-25DOI: 10.1016/j.resourpol.2024.105427
Luis Suárez Nieto , Gregorio Fidalgo Valverde , Alicja Krzemień , Pedro Riesgo Fernández , Francisco Javier Iglesias Rodríguez
Mining projects are highly exposed to cost overruns, ahead of oil and gas, power generation and infrastructure projects. Precisely, warnings related to sharp increases in capital and production costs of around 40% are expected to be found in the corresponding literature. This paper analyses the economic risks related to capital cost presented by public investment offers in copper mining projects. To detect the economic risks of copper mining projects presented to the public, the research pays particular attention to the existing methodologies for the valuation of mining assets, as well as for the preparation of technical reports with internationally recognised codes that aim to offer the expert in charge of the valuation a series of guidelines to carry out this work. For this purpose, an in-depth study and analysis of four National Instrument 41–101 technical reports of current copper mining projects selected following criteria of geographic, business, exploitation and size diversification is carried out: Arctic Project (Northwest Alaska, United States), Kutcho Project (British Columbia, Canada), Josemaría Copper-Gold Project (San Juan, Argentina) and Eva Copper Project (Queensland, Australia). The research concludes that it would be advisable that mining companies and, especially, Competent persons responsible for preparing technical reports apply the recommended practices, being extremely conservative with the ranges of precision and contingencies contemplated in each phase. It should be a significant turning point for the sector, which, to prosper and reinforce investment decisions, must leverage transmitting trust, transparency, cleanliness and professionalism to the market.
与石油和天然气、发电和基础设施项目相比，采矿项目极易出现成本超支。确切地说，在相应的文献中可以发现与资本和生产成本急剧增加 40% 左右有关的警告。本文分析了铜矿项目公共投资报价中与资本成本相关的经济风险。为了发现铜矿开采项目的经济风险，本研究特别关注了现有的矿业资产评估方法，以及国际公认的技术报告编写规范，这些规范旨在为负责评估的专家提供一系列开展这项工作的指导。为此，我们对目前铜矿项目的四份国家文件 41-101 技术报告进行了深入研究和分析，这些报告是按照地理、业务、开采和规模多样化的标准选定的：北极项目（美国阿拉斯加西北部）、Kutcho 项目（加拿大不列颠哥伦比亚省）、Josemaría 铜金项目（阿根廷圣胡安）和 Eva 铜矿项目（澳大利亚昆士兰）。研究得出的结论是，矿业公司，尤其是负责编写技术报告的合资格人士，最好采用建议的做法，对每个阶段的精度范围和考虑的意外情况采取极为保守的态度。这应该是该行业的一个重要转折点，该行业要想繁荣和加强投资决策，就必须向市场传递信任、透明、廉洁和专业精神。
{"title":"Economic risks in mining investments: A prospective analysis of capital cost estimation in copper mining projects","authors":"Luis Suárez Nieto , Gregorio Fidalgo Valverde , Alicja Krzemień , Pedro Riesgo Fernández , Francisco Javier Iglesias Rodríguez","doi":"10.1016/j.resourpol.2024.105427","DOIUrl":"10.1016/j.resourpol.2024.105427","url":null,"abstract":"<div><div>Mining projects are highly exposed to cost overruns, ahead of oil and gas, power generation and infrastructure projects. Precisely, warnings related to sharp increases in capital and production costs of around 40% are expected to be found in the corresponding literature. This paper analyses the economic risks related to capital cost presented by public investment offers in copper mining projects. To detect the economic risks of copper mining projects presented to the public, the research pays particular attention to the existing methodologies for the valuation of mining assets, as well as for the preparation of technical reports with internationally recognised codes that aim to offer the expert in charge of the valuation a series of guidelines to carry out this work. For this purpose, an in-depth study and analysis of four National Instrument 41–101 technical reports of current copper mining projects selected following criteria of geographic, business, exploitation and size diversification is carried out: Arctic Project (Northwest Alaska, United States), Kutcho Project (British Columbia, Canada), Josemaría Copper-Gold Project (San Juan, Argentina) and Eva Copper Project (Queensland, Australia). The research concludes that it would be advisable that mining companies and, especially, Competent persons responsible for preparing technical reports apply the recommended practices, being extremely conservative with the ranges of precision and contingencies contemplated in each phase. It should be a significant turning point for the sector, which, to prosper and reinforce investment decisions, must leverage transmitting trust, transparency, cleanliness and professionalism to the market.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105427"},"PeriodicalIF":10.2,"publicationDate":"2024-11-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142702950","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-11-23DOI: 10.1016/j.resourpol.2024.105420
Tufail Muhammad , Guohua Ni , Zhenling Chen , Sabrine Mallek , Marek Dudek , Grzegorz Mentel
This study explores the impact of oil resource abundance on industrial structure in 57 oil-exporting countries within the Belt and Road Initiative (BRI) from 1990 to 2020. Using the System Generalized Method of Moments (SYS-GMM) models, the research highlights a negative correlation between oil exports and industrial structure dimensions. Countries such as Algeria, Angola, Azerbaijan, Chad, Congo, Iraq, and Libya are particularly affected by the resource curse, facing slower industrial development, while China, Lithuania, Malaysia, and New Zealand demonstrate resilience and positive industrial outcomes. The study also shows that oil abundance influences foreign direct investment (FDI), though this influx does not consistently translate into industrial growth. Policymakers are advised to implement strategies that balance oil revenue management, promote industrial diversification, and align education spending with industry needs. Trade openness is also emphasized as key to fostering industrial progress. These findings offer critical guidance for addressing the resource curse and achieving long-term sustainable industrial growth.
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