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on Mining |
| By: | Bell, Peter |
| Abstract: | This article analyzes shipping infrastructure around mining projects using empirical examples, a toy model of a hypothetical mine and port, and transaction cost economics. This article presents examples of two mining operations on Vancouver Island, called the Myra Falls Mine and the Orca Quarry. These two mines both have integrated shipping facilities, and the article uses transaction cost economics to analyze why these mines built their own ports. The article also builds a toy model of mining, processing, and shipping based on a bottom-up approach. The article presents different designs for the mine and compares them based on things like profitability, total GDP impact, and reliability of supply. One way to design the hypothetical mining and shipping project is to start with an assumption on the shipping capacity and then reverse-engineer the amount of mining required to use this port capacity. Another way to design it starts with an assumption about the mineral deposit and then infers the shipping capacity required to transport the mineral concentrates to market. The article shows how to compare the designs according to different goals. For example, one goal is to maximize the profit of the mine from the perspective of a private company. Another goal is to maximize the total GDP impact from the mine and port from the perspective of the Canadian government. A third goal is to ensure reliable, domestic production of critical minerals at any cost from the perspective of the military. The article presents an example of a hypothetical mining project with breakeven economics that would nonetheless generate large, positive economic impacts. |
| Keywords: | Mining, Shipping, Critical Minerals, Infrastructure, Transaction Cost Economics, |
| JEL: | B5 B52 D3 D7 D79 E6 E65 F2 F5 F53 G3 G38 H1 H2 H25 H5 K0 K2 K23 K3 L3 L32 L5 L51 L6 L61 L7 L72 N5 O1 O13 O2 P0 P1 Q3 Q32 Q33 |
| Date: | 2026–01–21 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:127815 |
| By: | Noé Viguié |
| Abstract: | This paper revisits the Natural Resource Curse (NRC) in the case of Critical Raw Materials (CRM), a strategic input for the energy transition. Using USGS production data for 1970–2019, we distinguish between dependence (CRM production as a share of GDP) and abundance (CRM production per capita). We argue that dependence is endogenous and a misleading proxy of resource endowment. Our cross-sectional model averaging shows no robust impact of CRM on growth, while primary export dependence has only a fragile, time-sensitive negative effect. Panel estimations for 44 countries, using advanced static and dynamic estimators, point to the same conclusion: weak and inconsistent results, with the apparent negative effect of CRM dependence largely driven by endogeneity. Overall, our findings reject the idea of a universal CRM curse. Instead, they highlight how measurement choices and endogeneity critically shape the NRC debate. While appropriate policies should address potential negative externalities and encourage diversification as well as the capture of greater value added along the CRM supply chain, our findings suggest that, to ensure long-term growth, traditional factors–such as human capital accumulation, infrastructure, andinstitutional quality and stability–should remain central. |
| Keywords: | natural resources curse; critical raw materials; natural resources abundance; natural resources dependence |
| JEL: | O13 Q32 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:drm:wpaper:2026-8 |
| By: | Marc Rockmore; Daniela Rudstein; Ryan Vaughan; Breanne Cave |
| Abstract: | The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act sought to enhance peace and security in the Democratic Republic of Congo (DRC) by introducing, beginning in 2014, disclosure and reporting requirements for firms utilizing conflict minerals. Despite its policy ambitions, the Act’s long-run impacts remain insufficiently understood, as prior studies either concentrate on the pre-2016 period or lack an appropriate pre-treatment comparison. This study estimates the effects of the Dodd-Frank Act through 2022, while addressing potential endogeneity associated with mining operations and survey team visits, as well as confounding influences from improvements in data collection. The analysis reveals that the Act did not reduce violence in the DRC; rather, it contributed to the geographic diffusion of conflict across territories with gold mines. In contrast, no measurable effects are observed on the incidence or intensity of violence in territories containing “3T” mines—the other minerals targeted by the Act. These heterogeneous effects likely reflect strategic shifts among armed groups, who increasingly contested control over gold mines owing to gold’s portability and limited traceability. |
| Keywords: | central africa, conflict, democratic republic of the congo, dodd-frank act, international trade policy, minerals, natural resources, unintended consequences |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:hic:wpaper:452 |
| By: | Chenhui Zhang (University of Waterloo [Waterloo]); Capucine Nouvel Zurcher (BRGM - Bureau de Recherches Géologiques et Minières); Daniel Monfort Climent (BRGM - Bureau de Recherches Géologiques et Minières); Steven Young (University of Waterloo [Waterloo]) |
| Abstract: | Voluntary Sustainability Standards (VSS) are playing an increasingly central role in the governance of sustainability in the mining, minerals, and metals (M3) sectors. Yet their development remains fragmented and under-documented. This study makes four key contributions. First, it proposes a sector-specific definition of VSS, highlighting their voluntary and non-governmental nature, sustainability orientation, and use of assurance mechanisms. Second, it compiles a comprehensive and conceptually consistent database of 38 active VSS, covering both artisanal and large-scale mining systems across the value chain, as well as 6 market- and trade-related standards. Third, it constructs a longitudinal timeline (2002–2026) of VSS evolution, identifying four distinct phases – initiation, expansion, acceleration, and consolidation – shaped by reputational crises, institutional responses, and regulatory alignment. Finally, it maps interconnections among standards and their references to international frameworks, including the OECD, UN, ILO, and ISO foundations. These contributions provide a unique empirical foundation and conceptual framework for evaluating the effectiveness, coherence, and institutional positioning of VSS in global mineral governance. The study advances theoretical discussions on polycentric and hybrid governance, offers practical guidance for policymakers, firms, and NGOs navigating increasingly complex certification landscapes, and lays groundwork for future research on the institutionalization and harmonization of sustainability standards |
| Keywords: | Voluntary sustainability standards, Mining, Minerals, Metals, Timeline |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05581961 |
| By: | Bin Ramli, Muhammad Sukri |
| Abstract: | The global copper market is experiencing a period of fundamental structural volatility, guided by supply chain realignments, geopolitical friend-shoring, and an increasing reliance on the circular economy. To accurately diagnose the current state of this critical mineral, this paper presents a strictly empirical, data-driven algorithmic pipeline, the Apex Empirical Model, applied to recent UN Comtrade transaction ledgers (2020-2025). By utilizing robust machine learning architectures, this research systematically identifies a phenomenon we term Stage-Specific Starvation (SSS) across the upstream, midstream, circular, and downstream stages of the value chain. Integrating Deep Autoencoders, Network Graph Analysis, Holt-Winters Time-Series Forecasting, and Risk-Parity Optimization, the model successfully isolates targeted capital flight via transfer mispricing and maps the exact flow-through volumes of global transshipment hubs. Furthermore, the framework applies network topology to assess systemic vulnerabilities, empirically confirming the existence of a geopolitical price premium, and engineers a continuous mass-balance metric to predict projected smelter capacity adjustments six months into the future. Finally, our resilience metrics mathematically prove the financial arbitrage and stability advantages of secondary scrap integration. Ultimately, this research leverages Causal Inference to introduce Circular Risk Parity (CRP), providing a prescriptive, optimized portfolio allocation that balances risk equally across the supply chain, allowing stakeholders to navigate exogenous supply shocks in the modern copper market. |
| Date: | 2026–03–26 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:v53nw_v1 |
| By: | Hailemariam, Abebe; Lukas, Erica; Mavisakalyan, Astghik; True, Jacqui |
| Abstract: | This paper examines the effect of proximity to mining activity on men's adherence to traditional masculinity norms. Combining geocoded survey data with detailed spatial information on mining activity across 37 countries, we employ an instrumental variable strategy that exploits exogenous variation in geological mineral endowments and global commodity prices to address endogeneity concerns. We find that residing within 20 km of an active mine increases conformity to traditional masculinity norms approximately by 0.29 points on a four-point scale. The effects are concentrated in the violence and help avoidance dimensions, indicating that men living near active mines display greater tolerance of aggression and stronger resistance to help-seeking - traits closely aligned with the masculine culture of extractive workplaces. Heterogeneity analyses further show that these effects are strongest among lower-educated, unmarried, and older men. The results are robust to an alternative difference-in-differences identification strategy comparing areas near active versus inactive mines and to the use of an alternative measure of traditional gender role attitudes as the outcome variable. The analysis of mechanisms suggests that mining proximity increases male employment in the extractive sector while reducing female labor force participation in surrounding communities. These findings provide new insights into how extractive industries can shape and reinforce traditional masculinity norms in mining communities. |
| Keywords: | Mining, Conformity to Masculine Norms Inventory, Gender Norms, Gender Equality, Sustainable Development Goal 5 |
| JEL: | J16 J24 O13 Q33 Z13 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:glodps:1742 |
| By: | Pierre Adrien Du Cly (SU UFR Histoire - Sorbonne Université - Faculté des Lettres - UFR Histoire - SU FdL - Sorbonne Université - Faculté des Lettres - SU - Sorbonne Université, SU - Sorbonne Université, SU UFR HAA - Sorbonne Université - Faculté des Lettres - UFR Histoire de l'art et archéologie - SU FdL - Sorbonne Université - Faculté des Lettres - SU - Sorbonne Université) |
| Abstract: | This article analyzes the historical and material significance of the galleon San José, wrecked off the coast of Cartagena de Indias in 1708. Focusing on the first 8-escudo coins minted in Lima in 1707 and recently recovered, the study explores how these artifacts transcend their status as mere treasure to become archives of imperial power. The author examines the role of this cargo within the context of the War of the Spanish Succession, the impact of its loss on the colonial economy, and the transition of these coins from instruments of power to objects of scientific and memorial study. |
| Abstract: | Este artículo analiza la importancia histórica y material del galeón San José, cuyo pecio yace frente a las costas de Cartagena de Indias desde 1708. Al centrarse en las primeras monedas de 8 escudos acuñadas en Lima en 1707 y recientemente extraídas, el estudio explora cómo estos objetos trascienden su valor como simple tesoro para convertirse en archivos del poder imperial. El autor examina el papel de este cargamento en el contexto de la Guerra de Sucesión Española, el impacto de su pérdida en la economía colonial y la transición de estas piezas de un estatus de instrumento de poder al de objeto de estudio científico y memorial. |
| Abstract: | Cet article analyse l'importance historique et matérielle du galion San José, dont l'épave repose au large de Carthagène des Indes depuis 1708. En se concentrant sur les premières monnaies de 8 escudos frappées à Lima en 1707 et récemment extraites, l'étude explore comment ces objets transcendent leur valeur de simple trésor pour devenir des archives de la puissance impériale. L'auteur examine le rôle de cette cargaison dans le contexte de la Guerre de Succession d'Espagne, l'impact de sa perte sur l'économie coloniale et la transition de ces pièces d'un statut d'instrument de pouvoir à celui d'objet d'étude scientifique et mémoriel. |
| Keywords: | 8 escudos, cobs, numismatics, sedwick, Shipwreck, Treasure, San Jose, 8 reales, pillar dollar, Macuquinas, Pecio, Oro, San josé, Cartagena de Indias, Numismatica colonial, Indias, peru, colonial, numismatica, macuquinas |
| Date: | 2025–12–20 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05424576 |
| By: | Guillermo Verduzco-Bustos; Francesco Zanetti |
| Abstract: | We develop a novel instrumental variable to identify geopolitical oil price shocks arising around significant geopolitical tensions and examine their transmission to the global oil market, key U.S. macroeconomic aggregates, and cross-border spillover effects on other commodity markets, output, and inflation. Geopolitical oil price shocks resemble severe oil supply shocks, leading to production declines and a much sharper increase in oil prices than conventional shocks. They are coupled with heightened uncertainty and induce a distinct inventory response: an initial short-term decline followed by long-term accumulation, reflecting market participants' concerns about future economic and oil market conditions. The cross-border spillover effects are significant for oil-intensive commodities, and are stronger for output and inflation in oil-importing economies and for countries with low energy inventories and high energy dependency on foreign supply. |
| Keywords: | geopolitical risk, oil price shocks, VAR model, identification, spillovers, commodity markets |
| JEL: | C32 E22 E31 E32 Q43 |
| Date: | 2026–04 |
| URL: | https://d.repec.org/n?u=RePEc:een:camaaa:2026-24 |
| By: | Gilles A Paché (CERGAM - Centre d'Études et de Recherche en Gestion d'Aix-Marseille - AMU - Aix Marseille Université - UTLN - Université de Toulon) |
| Abstract: | Guano, a natural fertilizer derived from seabird excrement, is exceptionally rich in phosphates, nitrates, and potassium, essential for crop growth and soil restoration. In the nineteenth century, Peru's islands contained vast deposits that fueled intensive agriculture, particularly in Europe. Extraction relied on immigrant labor under harsh conditions and required sophisticated coordination among local producers, traders, and maritime carriers. Exposure to storms, piracy, and political conflicts demonstrated that economic strength alone could not secure export flows. Reliance on a limited number of islands made supply chains highly vulnerable, highlighting the necessity of diversifying sources and maintaining strategic reserves. The guano trade provides early evidence that resilient agricultural commodity chains depend on proactive planning, logistical flexibility, and multi-stakeholder collaboration. Lessons from this historical case offer a framework for modern agricultural systems to withstand environmental, economic, and geopolitical shocks. By emphasizing anticipation, diversification, and operational margins, the guano case illustrates how continuity of procurement and agricultural productivity can be preserved, providing actionable insights for contemporary food security, sustainable fertilizer management, and the strategic handling of critical resources. |
| Keywords: | critical resources, food security, guano, history, logistics, resource dependence, supply chain, Agriculture |
| Date: | 2026–04–06 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05582105 |
| By: | Bălașa, M.; Pollitt, M. G. |
| Abstract: | There is limited research investigating the impact of zonal electricity prices on industrial location decisions. This paper analyses the consequences of the Swedish 2011 electricity market reform which divided the country into four bidding zones. Such changes are often expected to lead to industrial relocations towards the cheaper electricity zones. We examine the macro and micro levels of this reconfiguration, using country - and firm-level data. Both levels of analysis show an initially limited impact of t he reform on industrial location choices, with only one relocation to the northern part of the country. However, we find that the electricity intensities of the existing and emerging industries are different. By distinguishing between these two types of industries, we identify that many up-and-coming ones such as low-carbon steel, green ammonia, green hydrogen, e-methanol as well as data centres are increasingly locating in the bidding zones with lower electricity prices. For these, the share of electricity costs in the total cost of production is much higher compared to the traditional, fossil -based heavy industries. However, even if they are energy -intensive, these industries are not job-intensive at all, such that the location choices of the new firms do not significantly impact the labour market, which also suffers from significant shortages in the northern region. These location decisions may, in time, reduce the electricity surplus in the north of the country, and thus exert upward pressure on the price in the long-term. The findings have implications for understanding industrial (re-)locations, electricity market reconfigurations, and industrial decarbonisation. |
| Keywords: | Electricity Market Reform, Industrial Decarbonisation, Industrial Policy, Industrial Relocation, Zonal Electricity Prices |
| JEL: | O14 R11 Q41 L94 |
| Date: | 2026–03–01 |
| URL: | https://d.repec.org/n?u=RePEc:cam:camdae:2615 |
| By: | Tetsuji OKAZAKI |
| Abstract: | Immediately after World War II, under the occupation by the United States, the Japanese government implemented various policies aimed at initiating economic recovery through restoring production and suppressing inflation. Reflecting the policy of the U.S. government, Japanese policy regimes evolved through three phases: First, naïve economic controls were implemented that prioritized increasing production but disregarded productivity, second, economic controls aiming at increasing productivity, and finally a transition to a market economy. In this paper, we explored implications of this sequence of policy regime change, focusing on the coal mining industry. Analyzing mine-level panel data, we found that naive economic controls prioritizing increasing production, and particularly price control policies, distorted coal mining firms’ incentives for increasing productivity. Specifically, the firms whose productivity was higher in the initial year lacked incentives to increase productivity, and consequently, productivity of those firms stagnated. Additionally, despite policy changes aiming at productivity increase implemented in 1948, the changes had no significant effect on productivity growth. In contrast, the transition to a market economy had a positive impact on productivity growth; however, this impact was heterogeneous, and only firms whose initial productivity was higher and whose incentives had been distorted under the system of economic control saw positive effects. |
| Date: | 2026–04 |
| URL: | https://d.repec.org/n?u=RePEc:eti:dpaper:26030 |
| By: | Simshauser, P.; Gilmore, J. |
| Abstract: | Electricity prices across Europe, North America and Asia -Pacific surged following the outbreak of the Russia-Ukraine war, driven by severe spikes in LNG and coal prices. In Australia, average household electricity tariffs in the National Electricity Market were ~23c/kWh in 2021. By 2025 tariffs had increased by 33% to ~30c/kWh, and provides an interesting case study of predictable policy aftershocks. Australians were told renewables would be cheaper, yet electricity bills had risen sharply. Are renewables cheaper? In this article, we focus on the wholesale market component of retail electricity tariffs in Australia and examine a counterfactual policy scenario – a world where market entrants over the past two decades were constrained to coal- and gas-fired generation, rather than renewables. We compare these results to the NEM’s transitioning plant stock, with ever -rising levels of wind, utility-scale and rooftop solar, along with the emergent firming fleet, viz. batteries, pumped hydro and new entrant gas turbines. Our counterfactual policy scenario would result in wholesale market costs and prices ~30-50% higher. Coal and gas were once unambiguously the NEM’s lowest cost entrants. That period has ended. Structurally high coal plant costs and export -parity gas prices means renewables and firming assets represent the dominant new entrants to meet demand growth, and supply gaps created by aging coal plant exits. |
| Keywords: | Renewables, Coal, Natural Gas, Dispatchable Plant Capacity |
| JEL: | D52 D53 G12 L94 Q40 |
| Date: | 2025–11–30 |
| URL: | https://d.repec.org/n?u=RePEc:cam:camdae:2626 |
| By: | Mehmet Selman Colak; Mehmet Emre Samci |
| Abstract: | Households in many emerging economies hold substantial alternative assets such as gold and cryptocurrencies, yet macro effects from these assets are difficult to explore due to measurement challenges. Exploiting Türkiye’s cross-provincial heterogeneity in gold saving and the exogenous 2023-2025 global gold rally, we study how gold wealth transmits to the housing market. Using a province-level administrative dataset within a novel approach to proxy the formal and informal gold tendency and a difference-in-differences (DID) design, we show that house prices rise significantly more in high-gold provinces, with an average 10% cumulative additional price increase due to the wealth effects from gold. Mechanism tests indicate a liquidity channel: the cash-purchase share increases, while credit-financed transactions do not. At the same time, secondary market sales fall, consistent with strengthened homeowner balance sheets tightening resale supply. A Bartik-style instrumental variable (IV) strategy based on passive gains supports causality. The findings highlight that alternative saving instruments can fuel real asset inflation through cash, suggesting that monetary and macroprudential policy frameworks focused solely on credit flows may miss important pressures in inflationary environments. |
| Keywords: | Gold, Cryptocurrencies, DID, Wealth effects, House prices, IV strategy |
| JEL: | C36 D12 E21 E26 E31 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:tcb:wpaper:2606 |
| By: | Francesco Crespi; Nicolò Geri; Dario Guarascio; Enrico Marvasi |
| Abstract: | This paperinvestigatestherelationshipbetweentechnologicalcapabilities, importdependency, and environmentalpolicies, focusingonthelithium-ionbatterysupplychain(LBSC)–acriticalsectorforthe net-zero transition.Wecontributetothegrowingliteratureonthedriversandbarrierstoacceleratingthe transitioninthefollowingways.First, wedevelopanoriginalanalyticalframeworkthatintegratestwo recent streamsofliterature(i.e.theoneonaccelerationofthegreentransitionandtheoneonstructural dependencies andtechnologicalsovereignty), inordertodiscusstheexistenceofpotentialtrade-offsbe- tweenthetwoobjectives.Second, wedevelopastrategicintelligenceanalysisoftheLBSCbyproposinga novelmethodologicalapproachtoidentifyimportdependenciesandtechnologicalcapacitygaps, which allowstosingleoutcriticalproductsandstageswherepolicyactionisneededtoavoidtheemergenceof bottleneckstothegreentransition.Third, weexaminehowtechnologicalcapabilitiesinfluenceimport dependency, showingunderwhatconditionstechnologicalupgradingimprovescountries’competitive positions andmitigatesdependencyissues.Finally, weanalysehowenvironmentalpolicystringencyre- lates toimportdependencyinordertodiscussinwhichcontextenvironmentalgoalsmayconflictwith thoserelatedtotechnologicalsovereigntyandstrategicautonomy.Ourfindingssuggestthattechno- logical upgradingcanreducedependencieswithoutcompromisingenvironmentalgoalssothatthepre- sumed trade-offbetweenthenet-zerotransitionandstructuraldependenciesdoesnotnecessarilyhold. In contrast, awell-designedpolicymix, aligningenvironmentalobjectiveswithtargetedinnovationand industrialpolicies, canenhancebothresilienceandtheaccelerati ontowardsthenet-zerotransition. |
| Date: | 2026–04 |
| URL: | https://d.repec.org/n?u=RePEc:rtr:wpaper:0291 |