Pub Date : 2023-10-23DOI: 10.1007/s13563-023-00405-y
Patrik Söderholm, Magnus Ericsson, Frida Hellman
Abstract The attractiveness of mineral investments across countries and regions worldwide can be judged through various measures, each with its strengths and weaknesses. The purpose of this paper is to scrutinize the Fraser Institute’s ranking of mining jurisdictions, which builds on eliciting the perceptions of industry representatives around the world through an annual survey. The analysis takes stock in the growing scholarship on country performance indicators and concludes that due to the low response rate and the lack of clear definitions of some of the underlying concepts (e.g., political stability), there are reasons to question both the reliability and the validity of this survey. There could also exist incentives among exploration companies to “game” the rankings. For these reasons, the ranking outcomes do not constitute a meaningful scorecard that countries can employ to improve their mining-related policies. However, despite these deficiencies, the Fraser Institute’s survey often enjoys relatively uncritical media attention. It even sets in motion a political “rankings game” in which the mining companies, governments, and other organized groups choose to participate. There is an urgent need for a more reliable and unbiased survey approach, including the consideration of alternative—complementing—measures for assessing investment attractiveness in the mining industry.
{"title":"The perils of ranking mining countries and regions: a critical look at the annual survey of the Fraser Institute","authors":"Patrik Söderholm, Magnus Ericsson, Frida Hellman","doi":"10.1007/s13563-023-00405-y","DOIUrl":"https://doi.org/10.1007/s13563-023-00405-y","url":null,"abstract":"Abstract The attractiveness of mineral investments across countries and regions worldwide can be judged through various measures, each with its strengths and weaknesses. The purpose of this paper is to scrutinize the Fraser Institute’s ranking of mining jurisdictions, which builds on eliciting the perceptions of industry representatives around the world through an annual survey. The analysis takes stock in the growing scholarship on country performance indicators and concludes that due to the low response rate and the lack of clear definitions of some of the underlying concepts (e.g., political stability), there are reasons to question both the reliability and the validity of this survey. There could also exist incentives among exploration companies to “game” the rankings. For these reasons, the ranking outcomes do not constitute a meaningful scorecard that countries can employ to improve their mining-related policies. However, despite these deficiencies, the Fraser Institute’s survey often enjoys relatively uncritical media attention. It even sets in motion a political “rankings game” in which the mining companies, governments, and other organized groups choose to participate. There is an urgent need for a more reliable and unbiased survey approach, including the consideration of alternative—complementing—measures for assessing investment attractiveness in the mining industry.","PeriodicalId":44877,"journal":{"name":"Mineral Economics","volume":"2003 10","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135412332","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-17DOI: 10.1007/s13563-023-00402-1
Vlado Vivoda, Ron Matthews
{"title":"“Friend-shoring” as a panacea to Western critical mineral supply chain vulnerabilities","authors":"Vlado Vivoda, Ron Matthews","doi":"10.1007/s13563-023-00402-1","DOIUrl":"https://doi.org/10.1007/s13563-023-00402-1","url":null,"abstract":"","PeriodicalId":44877,"journal":{"name":"Mineral Economics","volume":"78 7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136032459","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-05DOI: 10.1007/s13563-023-00396-w
Phillip Crowson
{"title":"Non-ferrous metal inventories and the London metal exchange: a commentary","authors":"Phillip Crowson","doi":"10.1007/s13563-023-00396-w","DOIUrl":"https://doi.org/10.1007/s13563-023-00396-w","url":null,"abstract":"","PeriodicalId":44877,"journal":{"name":"Mineral Economics","volume":"77 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134975545","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-04DOI: 10.1007/s13563-023-00400-3
Raymond Goldie
{"title":"Net Smelter Returns (NSRs) and alternative measures of the value of polymetallic mineralization","authors":"Raymond Goldie","doi":"10.1007/s13563-023-00400-3","DOIUrl":"https://doi.org/10.1007/s13563-023-00400-3","url":null,"abstract":"","PeriodicalId":44877,"journal":{"name":"Mineral Economics","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135591172","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-04DOI: 10.1007/s13563-023-00399-7
Pekka Tuomela
{"title":"Publisher Correction: Commentary on the global mining industry corporate profile, complexity, and change","authors":"Pekka Tuomela","doi":"10.1007/s13563-023-00399-7","DOIUrl":"https://doi.org/10.1007/s13563-023-00399-7","url":null,"abstract":"","PeriodicalId":44877,"journal":{"name":"Mineral Economics","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135591179","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-26DOI: 10.1007/s13563-023-00397-9
Makungu Paschal, Jignesh Kauangal, Said Nuhu
{"title":"The existing financial sources for artisanal and small-scale mining in mineral-rich countries in Sub-Saharan Africa: a review","authors":"Makungu Paschal, Jignesh Kauangal, Said Nuhu","doi":"10.1007/s13563-023-00397-9","DOIUrl":"https://doi.org/10.1007/s13563-023-00397-9","url":null,"abstract":"","PeriodicalId":44877,"journal":{"name":"Mineral Economics","volume":"45 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134960494","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-21DOI: 10.33019/mineral.v8i1.4097
Yunita Yunita, Edwin Harsiga
This study analyzed the fuel ratio in mining projects to determine the factors that affected loose opportunity and the profit or losses encountered by the company. This analysis process was conduted by determining the target and realization of production where the overburden and coal getting production target in March on Fleet 1 was 68.885 bcm/month with the fuel consumption of 11.907,19 liter, on Fleet 2 was 70.944 tons/month with the fuel consumption of 11.460,38 liter, on Fleet 3 was 68.885 bcm/month with the fuel consumption of 9.611,94 liter, Fleet 4 was 68.885 bcm/month with the fuel consumption of 11.907,19 liter. Whereas, in the field the realization of overburden and coal getting production in march of Fleet 1 was 55.403,23 bcm/month, Fleet 2 was 51.907,52 tons/month, Fleet 3 was 18.259,34 bcm/month, Fleet 4 was 56.582,92 bcm/month. The planned fuel ratio on Fleet 1 was 0,17 liter/bcm, Fleet 2 was 0,16 liter/tons, Fleet 3 was 0,14 liter/bcm and Fleet 4 was 0,17 liter/bcm while the actual fuel ratio on Fleet 1 was 0,18 liter/bcm, Fleet 2 was 0,20 liter/tons, Fleet 3 was 0,16 liter/bcm, Fleet 4 was 0,18 liter/bcm and the fuel ratio difference on Fleet 1 was 0,01 liter/bcm, Fleet 2 was 0,04 liter/tons, Fleet 3 was 0,02 liter/bcm and Fleet 4 was 0,01 liter/bcm. The factors affecting the production loose opportunity from the tool working hour was breakdown, slippery, rain and wait other unit. The total cost spent by the company for the overall fuel consumption was Rp 428.989.792,00 while the overall loss was Rp 45.989.837,74 in March.
{"title":"Analisis Fuel Ratio Pada Project Penambangan di Pit 1 PT Cahaya Riau Mandiri Jobsite PT Duta Alam Sumatera","authors":"Yunita Yunita, Edwin Harsiga","doi":"10.33019/mineral.v8i1.4097","DOIUrl":"https://doi.org/10.33019/mineral.v8i1.4097","url":null,"abstract":"This study analyzed the fuel ratio in mining projects to determine the factors that affected loose opportunity and the profit or losses encountered by the company. This analysis process was conduted by determining the target and realization of production where the overburden and coal getting production target in March on Fleet 1 was 68.885 bcm/month with the fuel consumption of 11.907,19 liter, on Fleet 2 was 70.944 tons/month with the fuel consumption of 11.460,38 liter, on Fleet 3 was 68.885 bcm/month with the fuel consumption of 9.611,94 liter, Fleet 4 was 68.885 bcm/month with the fuel consumption of 11.907,19 liter. Whereas, in the field the realization of overburden and coal getting production in march of Fleet 1 was 55.403,23 bcm/month, Fleet 2 was 51.907,52 tons/month, Fleet 3 was 18.259,34 bcm/month, Fleet 4 was 56.582,92 bcm/month. The planned fuel ratio on Fleet 1 was 0,17 liter/bcm, Fleet 2 was 0,16 liter/tons, Fleet 3 was 0,14 liter/bcm and Fleet 4 was 0,17 liter/bcm while the actual fuel ratio on Fleet 1 was 0,18 liter/bcm, Fleet 2 was 0,20 liter/tons, Fleet 3 was 0,16 liter/bcm, Fleet 4 was 0,18 liter/bcm and the fuel ratio difference on Fleet 1 was 0,01 liter/bcm, Fleet 2 was 0,04 liter/tons, Fleet 3 was 0,02 liter/bcm and Fleet 4 was 0,01 liter/bcm. The factors affecting the production loose opportunity from the tool working hour was breakdown, slippery, rain and wait other unit. The total cost spent by the company for the overall fuel consumption was Rp 428.989.792,00 while the overall loss was Rp 45.989.837,74 in March.","PeriodicalId":44877,"journal":{"name":"Mineral Economics","volume":"57 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136154818","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-21DOI: 10.1007/s13563-023-00395-x
Baijayanti Rout, Bibhuti Bhusan Nayak
{"title":"Impact of COVID-19 on the extractive sector of India","authors":"Baijayanti Rout, Bibhuti Bhusan Nayak","doi":"10.1007/s13563-023-00395-x","DOIUrl":"https://doi.org/10.1007/s13563-023-00395-x","url":null,"abstract":"","PeriodicalId":44877,"journal":{"name":"Mineral Economics","volume":"340 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136154589","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-20DOI: 10.1007/s13563-023-00391-1
Magnus Ericsson, Anton Löf, Olof Löf, Daniel B. Müller
Abstract The world’s dependency on cobalt mines in Congo and cobalt refineries in China is seen as serious security issues with potentially dangerous implications for the energy transition. However, Chinese refineries have a similar supply security issue as most of its cobalt concentrates are imported. Most supply security studies take a country perspective on market concentration and supply risks. However, control of the mines and refineries lies with the producing companies, not the governments of the countries where they are located. This paper analyses the corporate structure of the cobalt industry at the mine and the refinery stages over a longer time period to establish changes in the level of corporate concentration and to put the situation in 2018 in perspective. The level of corporate concentration at the mine stage is low and does not raise concerns for market failures or a lack of competitiveness. Corporate concentration of refined cobalt depends on the Chinese government’s influence over Chinese production: if the state control over individual refineries is assumed to be strong, the corporate concentration is high. Mine stage supply security could be strengthened by improving the general political stability in the DRC to make the country more attractive for investors other than the present ones. Increased local beneficiation would strongly benefit Congo and reduce China’s influence. This is a long and complicated process and its success is not at all certain. At the refinery stage, the solution is much easier: reliability of supply could be improved by constructing refineries in countries outside China.
{"title":"Cobalt: corporate concentration 1975–2018","authors":"Magnus Ericsson, Anton Löf, Olof Löf, Daniel B. Müller","doi":"10.1007/s13563-023-00391-1","DOIUrl":"https://doi.org/10.1007/s13563-023-00391-1","url":null,"abstract":"Abstract The world’s dependency on cobalt mines in Congo and cobalt refineries in China is seen as serious security issues with potentially dangerous implications for the energy transition. However, Chinese refineries have a similar supply security issue as most of its cobalt concentrates are imported. Most supply security studies take a country perspective on market concentration and supply risks. However, control of the mines and refineries lies with the producing companies, not the governments of the countries where they are located. This paper analyses the corporate structure of the cobalt industry at the mine and the refinery stages over a longer time period to establish changes in the level of corporate concentration and to put the situation in 2018 in perspective. The level of corporate concentration at the mine stage is low and does not raise concerns for market failures or a lack of competitiveness. Corporate concentration of refined cobalt depends on the Chinese government’s influence over Chinese production: if the state control over individual refineries is assumed to be strong, the corporate concentration is high. Mine stage supply security could be strengthened by improving the general political stability in the DRC to make the country more attractive for investors other than the present ones. Increased local beneficiation would strongly benefit Congo and reduce China’s influence. This is a long and complicated process and its success is not at all certain. At the refinery stage, the solution is much easier: reliability of supply could be improved by constructing refineries in countries outside China.","PeriodicalId":44877,"journal":{"name":"Mineral Economics","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136309296","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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