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  • 1.
    Aguilera, Roberto F.
    et al.
    Curtin University, Kent Street, Bentley, Perth.
    Radetzki, Marian
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    The synchronized and exceptional price performance of oil and gold: Explanations and prospects2017In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 54, p. 81-87Article in journal (Refereed)
    Abstract [en]

    This paper compares the global markets for gold and oil so as to explain the surprisingly high correlation of the two materials’ prices since 1970, and the exceedingly impressive rise of both price series compared with that of virtually all other primary commodities. We propose that developments in the oil market, and the resulting effects on the macroeconomy, influenced investment activity in gold, thus providing the most plausible explanation for the two commodities’ price synchronization. Our view on the extraordinary price increases of oil and gold, compared to a broad category of metals and minerals, is that oil prices rose first based on above-ground hurdles that restrained the capacity to produce, and gold prices then reacted as they were pushed up by rising safe-haven investment to store value – an attribute not shared by other metals and minerals. The paper also comments on the likely future price evolution of these important materials, arguing that oil prices will stagnate at levels observed from late 2014, or even weaken in the coming decades, but that gold prices will continue to ride relatively high – thus leading to a collapse of the oil/gold price connection.

  • 2.
    Blomberg, Jerry
    et al.
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Hellmer, Stefan
    Luleå University of Technology.
    Short-run demand and supply elasticities in the West European market for secondary aluminium2000In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 26, no 1, p. 39-50Article in journal (Refereed)
    Abstract [en]

    As the principal user of old scrap, secondary Al smelters and refiners have traditionally played a key role in the recycling of Al, producing primarily cast material demanded primarily by the automobile industry. The purpose of the paper is to explore the supply-demand relationships in the market for secondary Al alloys. Based on a standard microeconomic model, where the determinants of supply and demand are identified, an econometric model, using data from Germany, France, Italy and the UK for the time period 1983-1997, is estimated. The model is used to assess the relative importance of the factors determining the supply and demand of the European secondary Al industry. The results show that both the supply and the derived demand for secondary Al is own-price inelastic, which is reasonable given the short-run framework. On the demand side, the level of auto production is found to have a substantial impact on the level of secondary Al alloy demand. It is concluded that the model describes the market reasonably well. The inelastic supply in combination with the sensitivity to changes in the level of auto production provides a tentative explanation of the observed volatility in secondary Al prices. Furthermore, the inelastic supply responses indicate that policies aimed at increasing recycling using price-based incentives will be inefficient.

  • 3.
    Blomberg, Jerry
    et al.
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Söderholm, Patrik
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Factor demand flexibility in the primary aluminium industry: Evidence from stagnating and expanding regions2011In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 36, no 3, p. 238-248Article in journal (Refereed)
    Abstract [en]

    The purpose of the paper is to analyse and compare short-run factor demand responses to price changes in the primary aluminium industry in Western Europe and the Africa-Middle East (AME) region. We outline a Translog variable cost function model, which is estimated employing a panel data set at the individual smelter level over the time period 1990-2003. The empirical results show evidence of limited - but far from insignificant - price-induced factor demand responses in the short-run. Overall aluminium smelters in the AME-region show evidence of higher estimated short-run own- and cross-price elasticities than their competitors in Western Europe, at least when it comes to labour and electricity demand. One important reason for this result is the greater number of pot lines with slightly different technologies at each smelter as well as the more intense use of the Prebake technology in the AME-region making retrofits in existing plants less costly than in Western Europe. The results also suggest that in both regions the demand for electricity has over time become less sensitive to short-run price changes, while the labour and material demand responses to price changes have increased but only in the AME-region. The liberalisation of the Western European electricity markets in combination with the rigid labour markets in this part of the world suggest that the shift in production capacity from the western world to the AME-region as well as China may continue

  • 4. Ejdemo, Thomas
    et al.
    Söderholm, Patrik
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Mining investment and regional development: a scenario-based assessment for Northern Sweden2011In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 26, no 1, p. 14-21Article in journal (Refereed)
    Abstract [en]

    The way in which mineral development contributes to economic development in the region where it takes place is important for the mining industry's relations to the local community. The purpose of this paper is to provide an assessment of the regional-economic impacts of a large-scale contemporary iron ore project in Northern Sweden (including two new mines, two processing plants, and one pellet plant). The regional input-output model rAps, provided by the Swedish government agency NUTEK is used, and it explicitly addresses the linkages between demographic development, the labour market, industrial production and the municipal finances in a consistent modelling framework. The simulation results suggest an average employment multiplier of about 2-2.5 during the maximum production phase, indicating that for every 100 jobs in mining about 100-150 jobs are supported elsewhere in the local economy. The positive impacts in this case are made possible in large because of the existing mining cluster and local suppliers in northern Sweden. Still, these results are perhaps best viewed as an indication of the potential for local economic development as they neglect, for instance, potential supply constraints (e.g., attracting the necessary labour force, road infrastructure, etc.). Specific policies to further strengthen the regional linkage effects may therefore be necessary in order for this potential to be realized in practice, and attention would preferably be paid to policy measures that have positive external spillover effects on the surrounding geographical area.

  • 5.
    Fjellborg, Daniel
    et al.
    Luleå University of Technology, Department of Social Sciences, Technology and Arts, Social Sciences.
    Lindahl, Karin Beland
    Luleå University of Technology, Department of Social Sciences, Technology and Arts, Social Sciences.
    Zachrisson, Anna
    Department of Political Science, Umeå University, 901 87, Umeå, Sweden; Arctic Research Centre at Umeå University, 901 87, Umeå, Sweden.
    What to do when the mining company comes to town? Mapping actions of anti-extraction movements in Sweden, 2009–20192022In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 75, article id 102514Article in journal (Refereed)
    Abstract [en]

    Research on the actions of anti-extraction movements has primarily comprised single-case studies in developing countries. Despite increasing mobilization and policy objectives to increase mineral extraction in the EU, we have little systematic knowledge of forms of resistance in a European setting. This paper exhaustively and comparatively maps anti-extraction movements in Sweden and investigates how movements' actions relate to their socio-political contexts. Sixteen place-specific movements are identified and studied using frame analysis and political process theory. The results suggest that anti-extraction movements occur across Sweden and that their socio-political contexts differ in access to indigenous rights institutions, project owner engagement, and support/opposition from host municipalities and national interest groups. The frame analysis indicates that movements share several goals, sometimes interpret similar contexts differently, and that differences in actions reflect differences in interpretations of contextual opportunities. Our results show that anti-extraction movements in Sweden involve diverse actors, including environmental interest groups, new networks mobilizing against extraction projects, indigenous Sami organizations, farmers' organizations, and landowners. Broad repertoires of actions, including civil disobedience, are used to influence the public, permitting processes, political actors at various scales, and project owners. Differences in socio-political contexts often align with movements’ interpretations of opportunities and relate with differences in action choices.

  • 6.
    Gałaś, Andrzej
    et al.
    Mineral and Energy Economy Research Institute, Polish Academy of Sciences, Division of Mineral Policy, Wybickiego 7A, 31-261, Krakow, Poland.
    Kot-Niewiadomska, Alicja
    Mineral and Energy Economy Research Institute, Polish Academy of Sciences, Division of Mineral Policy, Wybickiego 7A, 31-261, Krakow, Poland.
    Simić, Vladimir
    University of Belgrade, Faculty of Mining and Geology, Belgrade, Serbia.
    Tost, Michael
    Montanuniversität Leoben, Mining Engineering and Mineral Economics, Leoben, Austria.
    Wårell, Linda
    Luleå University of Technology, Department of Social Sciences, Technology and Arts, Social Sciences.
    Gałaś, Slávka
    AGH University of Krakow, Faculty of Geology, Geophysics and Environmental Protection, Krakow, Poland.
    A comparative case-study on social and public administration aspects on mineral deposits safeguarding in chosen European countries2023In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 85, no part B, article id 103863Article in journal (Refereed)
    Abstract [en]

    Representatives of the municipality decide about the country's resources, making decisions at the local level in spatial planning. Our task was to check whether they are aware of how important they are taking steps for the region and country. For this purpose, a survey was conducted in Poland, Austria, Serbia and Sweden. The analysis of the received responses indicates that the respondents know the deposits of raw materials in their area of work. However, they only partially perceive the need to protect them against development that may sterilize the raw material. The analysis shows that the respondents, do not consider of non-renewable mineral resources wider importance against the background of public interest. Additionally, there is no rational assessment of the consequences of losing non-renewable resources through planning decisions. We notice that the national guidelines, where a wider perspective can be present, should be clearer regarding the importance of safeguarding minerals – so that development that hampers their future use is avoided. The changing geopolitical situation makes it necessary to raise awareness about the problem of raw material security and reconsider the systems to safeguard them.

  • 7.
    Ghorbani, Yousef
    et al.
    Luleå University of Technology, Department of Civil, Environmental and Natural Resources Engineering, Minerals and Metallurgical Engineering. School of Chemistry, University of Lincoln, Lincoln, LN6 7TS, UK.
    Nwaila, Glen T.
    Wits Mining Institute, University of the Witwatersrand, 1 Jan Smuts Ave., Johannesburg, 2000, South Africa; Wits Mining Institute, University of the Witwatersrand, Private Bag 3, Wits, 2050, South Africa.
    Zhang, Steven E.
    Wits Mining Institute, University of the Witwatersrand, 1 Jan Smuts Ave., Johannesburg, 2000, South Africa; Geological Survey of Canada, 601 Booth Street, Ottawa, Ontario, K1A 0E8, Canada; SmartMin Limited, 39 Kiewiet Street, Helikon Park, 1759, South Africa.
    Bourdeau, Julie E.
    Wits Mining Institute, University of the Witwatersrand, 1 Jan Smuts Ave., Johannesburg, 2000, South Africa; Geological Survey of Canada, 601 Booth Street, Ottawa, Ontario, K1A 0E8, Canada; SmartMin Limited, 39 Kiewiet Street, Helikon Park, 1759, South Africa.
    Cánovas, Manuel
    Department of Metallurgical and Mining Engineering, Universidad Catolica del Norte, Antofagasta, Chile.
    Arzua, Javier
    Department of Metallurgical and Mining Engineering, Universidad Catolica del Norte, Antofagasta, Chile.
    Nikadat, Nooraddin
    Luleå University of Technology, Department of Civil, Environmental and Natural Resources Engineering, Mining and Geotechnical Engineering.
    Moving towards deep underground mineral resources: Drivers, challenges and potential solutions2023In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 80, article id 103222Article in journal (Refereed)
    Abstract [en]

    Underground mining has historically occurred in surface and near-surface (shallow) mineral deposits. While no universal definition of deep underground mining exists, humanity's need for non-renewable natural resources has inevitably pushed the boundaries of possibility in terms of environmental and technological constraints. Recently, deep underground mining is being extensively developed due to the depletion of shallow mineral deposits. One of the main advantages of deep underground mining is its lower environmental footprint compared to shallow mining. In this paper, we summarise the key factors driving deep underground mining, which include an increasing need for raw materials, exhaustion of shallow mineral deposits, and increasing environmental scrutiny. We examine the challenges associated with deep underground mining, mainly the: environmental, financial, geological, and geotechnical aspects. Furthermore, we explore solutions provided by recent advances in science and technology, such as the integration of mineral processing and mining, and the digital and technological revolution. We further examine the role of legacy data in its ability to bridge current and future practices in the context of deep underground mining.

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  • 8.
    Hellmer, Stefan
    Luleå University of Technology.
    The role of product differentiation in the iron ore industry: the case of LKAB1996In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 22, no 1-2, p. 49-60Article in journal (Refereed)
    Abstract [en]

    The analysis shows how the Swedish iron ore producer, LKAB, in spite of mining its ore underground in an arctic climate at relatively high costs, has remained internationally competitive thanks to its large-scale operation with high grade magnetite ore, pelletization and relatively short distance to both its shipping harbour and its international markets. LKAB starts at a relatively high level on the supply curve with respect to mining costs, but as the analysis continues to describe, LKAB moves gradually downwards on the supply curve on delivered pellet costs. The analysis clearly shows that LKAB has successfully managed to find its comparative advantage and that its competitive strength is sustainable, primarily thanks to its rich deposits of magnetite ore.

  • 9. Hellmer, Stefan
    et al.
    Nilsson, Mats
    Luleå University of Technology.
    Visualization of costs - the case of iron ore in Russia2000In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, no 3, p. 145-155Article in journal (Refereed)
    Abstract [en]

    During the 1990s prices have come to play an increasingly important role in Russia, and the overall question posed in the paper is in what way this will alter the production decisions in Russia. The focus is especially on the natural resources sector since these industries are located throughout most of Russia. The purpose of the study is to assess the magnitude of the expected changes in the area of iron ore production in Russia. This is an interesting case since iron ore production has increased almost everywhere in the world, but the problems in Russia have led to a decrease in the Russian production of iron ore. To assess the expected changes, the authors used a linear programming model and minimized the total costs of producing iron ore in Russia.

  • 10.
    How Kuan, Seng
    et al.
    Department of Mechanical and Material Engineering, Lee Kong Chian Faculty of Engineering and Science, Universiti Tunku Abdul Rahman, Kajang, Selangor, Malaysia.
    Ghorbani, Yousef
    Luleå University of Technology, Department of Civil, Environmental and Natural Resources Engineering, Minerals and Metallurgical Engineering.
    Chieng, Sylvia
    Faculty of Science and Technology, Universiti Kebangsaan Malaysia, Bangi, Selangor, Malaysia.
    Narrowing the gap between local standards and global best practices inbauxite mining: A case study in Malaysia2020In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 66, article id 101636Article in journal (Refereed)
    Abstract [en]

    In mining the concept of sustainable development often encounters a paradoxical meaning as numerous mines in the past have closed due to exhausted amounts of ores. Despite the paradox, sustainable development and mining can be made compatible, if mining activities are carried out responsibly and sustainably. This holds true especially in the developing world where illegal and unregulated mining is still being practiced. In Malaysia, annual production of bauxite ore increased drastically from 208,770 tonnes in 2013, to 962,799 tonnes in 2014. The increase stemmed primarily from Indonesia banning exports of bauxite in 2014 to boost its own aluminium smelting industry. This led China to suffer low bauxite supply to meet its national aluminium production demand. Subsequently, mining companies flocked to the hills around Kuantan, Malaysia which host large amounts of low-grade bauxite where the ore is procured and exported to China via seaway. The immediate spike in bauxite production came with environmental and health consequences for residents due to unregulated rampant mining. Consequently, the authorities imposed a temporary moratorium on bauxite mining from Jan 15, 2016 with exceptions for exports of stockpiled bauxite. As a result, production in 2016 dropped to 342,924 tonnes from a peak of 7,164,956 tonnes in 2015. After extending the moratorium nine times, the government announced recently that there would be no further extension and mining could resume in April 2019 with new standard operating procedures (SOP). This work analyses the gap between local standards and global best practices and discovers a disconnect between the two, largely centred around the area of environmental management and performance. The work also elucidates the weaknesses in the current SOP and strategies are proposed to resolve these shortcomings. Recommendations are made to bring Malaysian bauxite mining practices to international standards by stressing on improved sustainability indicators, policy provisions and data transparency.

  • 11.
    Häggquist, Elisabeth
    et al.
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Söderholm, Patrik
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    The economic value of geological information: Synthesis and directions for future research2015In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 43, p. 91-100Article in journal (Refereed)
    Abstract [en]

    Geological information can play a key role in addressing challenges of sustainable development such as land degradation and groundwater protection, and contribute to improved decision-making processes. In this paper we: (a) provide a review of previous research on the economic value of geological information and other earth observations as well as related products, services and infrastructure; and (b) identify important lessons from this work as well as methodological challenges that require increased attention in future research. The review of prior research shows significant economic benefits attached to the generation of this type of public information. The value of geological information has typically been measured in terms of avoided costs. Still, it is difficult to compare results across studies since they differ in scope and make alternative assumptions concerning which sectors to cover. Furthermore, previous research is not uniform in their treatment of potential (rather than only existing) users, and employ varying conceptions of avoided costs. The paper concludes that future research should devote more attention to the public and experience good characteristics of this type of information, thus highlighting the preconditions for information adoption as well as addressing the role of potential users. A number of specific methodological challenges also deserve further scrutiny in future research, such as the use of discount rates and benefit-transfer approaches. We also provide some thoughts on how to proceed with such research.

  • 12.
    Jaunky, Vishal Chandr
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    A cointegration and causality analysis of copper consumption and economic growth in rich countries2013In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 38, no 4, p. 628-639Article in journal (Refereed)
    Abstract [en]

    The paper examines the copper consumption-economic growth nexus for 16 rich economies from the period 1966 to 2010. Various generations of panel unit root and cointegration tests are applied. Both series are found to be integrated of order one. Evidence of cointegration is found especially when controlling for breaks and long-run cross-sectional dependence. Causality is investigated using a vector error-correction mechanism (VECM) framework. At individual level, unidirectional causality running from economic growth to copper consumption is unraveled for Finland, France and UK in the long-run. Unidirectional causality is also found running from copper consumption to economic growth for Spain. Long-run bi-directionality between economic growth and copper consumption is found for Belgium, Greece, Italy, Japan and South Korea. The neutrality hypothesis holds for Australia, Austria, Canada, Netherlands, Portugal, Sweden and USA in the long-run. Taken as a whole, panel causality test reveals a long-run unidirectional causality running from economic growth to copper consumption.

  • 13.
    Kasmaeeyazdi, Sara
    et al.
    Civil, Environmental, Chemical and materials Engineering (DICAM) University of Bologna, Italy.
    Abdolmaleki, Mehdi
    Luleå University of Technology, Department of Civil, Environmental and Natural Resources Engineering, Geosciences and Environmental Engineering.
    Ibrahim, Elsy
    Minerals Engineering, Materials & Environment (GeMMe), Université de Liège, 4000, Liège, Belgium.
    Jiang, Jingyi
    Minerals Engineering, Materials & Environment (GeMMe), Université de Liège, 4000, Liège, Belgium.
    Marzan, Ignacio
    Georesources Barcelona, ICTJA-CISC, Spain.
    Rodríguez, Irene Benito
    RawMaterials Copernicus (RawMatCop) Programme, EIT RawMaterials, Berlin, Germany.
    Copernicus data to boost raw material source management: Illustrations from the RawMatCop programme2021In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 74, article id 102384Article in journal (Refereed)
    Abstract [en]

    Earth Observation (EO) data can become an essential tool in the transformation of a raw materials sector that aims to reconfigure its model of operation. The high demand for the mineral resources necessary for the transition to a carbon neutral and circular economy conflicts with the increasing difficulties of finding new deposits. As the sector heads towards embracing circularity and reducing the environmental impacts, a clear focus has been set on developing appropriate tools to boost the efficiency of mineral resource management, both technologically and economically. In this scenario, the Sentinel satellites of the European Copernicus program come into play. Despite being satellites considered medium resolution, they provide great temporal and spatial coverage in a continuous record, which makes them tools with great potential for the raw materials sector. However, the lack of applications in the raw materials sector suggests that these technological advances have remained underrated by sectoral actors. The RawMatCop program was designed to bridge this gap. This program, co-funded by the European Commission and EIT RawMaterials, aims to develop applications and promote the use of Copernicus data in the raw materials sector to contribute to a safe and sustainable supply of mineral resources. The presented applications can be grouped into three categories covering the whole mining cycle from exploration to exploitation and post-mining. Two of the presented case studies cover the study of primary sources including exploration of Iron Oxide Copper Gold mineralisations to identify high-potential mining areas and mapping of informal gold mining and its environmental impacts. Another project focused on secondary sources tackled data applications for grade mapping and sample optimisation in mining residues. And the forth project focused on monitoring ground stability related to mining activity. The results demonstrate the high cost-effectiveness of Sentinel 1 and 2 in extending ground-based measurements to larger areas, especially when these are hard-to-reach areas. Finally, the presented projects examine the industrial and social impacts of technological innovations, as well as contribute to the achievement of prominent European Union policy objectives and the United Nations Sustainable Development Goals.

  • 14.
    Lindahl, Karin Beland
    et al.
    Luleå University of Technology, Department of Social Sciences, Technology and Arts, Social Sciences.
    Suopajärvi, Leena
    Faculty of Social Sciences, University of Lapland, Postbox 122, 96101, Rovaniemi, Finland.
    Tulilehto, Mari
    Geological Survey of Finland, PL 96, 02151, Espoo, Finland.
    Poelzer, Gregory
    Luleå University of Technology, Department of Social Sciences, Technology and Arts, Social Sciences.
    Eerola, Toni
    Geological Survey of Finland, PL 96, 02151, Espoo, Finland.
    Factors affecting local attitudes to mineral exploration: What's within the company's control?2023In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 84, article id 103715Article in journal (Refereed)
    Abstract [en]

    This study explores factors affecting local actors' and citizens’ attitudes to mineral exploration, and how attitudes to exploration relates to those of mining. The concept Social License to Explore (SLE), originating from Social License to Operate (SLO), is used to address the relationship between exploration companies and affected local communities. The study focuses on attitudes in three municipalities in northern Sweden and Finland and combines qualitative and quantitative methods. The results show that local attitudes to mineral exploration and mining correlate strongly and are intimately linked. Perceptions of impacts, the permit process, and trust in government and company affect local attitudes, but company performance seems to be most important where trust was not established. We argue that values about nature, economy, and value-based development preferences, are central as they shape local attitudes and perceptions of impacts and process. While company conduct and community engagement are within the control of companies, local values and development preferences are largely outside of their control. However, insights about contextual conditions shaping attitudes and values can be generalized and help companies make more informed decisions. Responsible target selection is a strategy within the control of the company which can help avoid intractable and costly conflicts.

  • 15.
    Lundgren, Nils-Gustav
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Bulk trade and maritime transport costs: the evolution of global markets1996In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 22, no 1-2, p. 5-32Article in journal (Refereed)
    Abstract [en]

    Since the 1950s a transport revolution has occurred comparable to events in the late nineteenth century when sailing ships was replaced by steam vessels. Freight rates for bulk products have decreased 65-70% due to improved maritime technology. Formerly separate markets for bulk products have been unified globally. A conclusion is that the low freight rates since the early 1980s will level out in a future perspective. Price peaks caused by political and military crises like the Korean war, the Suez crisis, OPEC I and OPEC II also seem to be of diminishing importance over time. The world market has become much less sensitive to external shocks due to many alternative sources of supply and many alternative routes for transport.

  • 16.
    Lundmark, Robert
    et al.
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Nilsson, Mats
    Swedish Energy Agency.
    What do economic simulations tell us?: recent mergers in the iron ore industry2004In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 29, no 3-4, p. 111-118Article in journal (Refereed)
    Abstract [en]

    This paper investigates the European Commission's decision to allow a merger between two Brazilian iron ore mining companies, CVRD and Caemi, using data on the Direct Reduced Iron pellet market. By using a simulation model, we can directly simulate the total welfare effects from the merger and hence evaluate the merger from a new perspective. The results from our simulations suggest that the welfare effects are negative from the merger between CVRD and Caemi, which supports the conclusion drawn by the European Commission decision. By performing different simulations between hypothetical merger candidates, our results show that only mergers between small candidates have the potential to be welfare enhancing.

  • 17.
    Lundmark, Robert
    et al.
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Wårell, Linda
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Horizontal mergers in the iron ore industry: an application of PCAIDS2008In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 33, no 3, p. 129-141Article in journal (Refereed)
    Abstract [en]

    The purpose of this paper is to estimate and analyse the price effects of the iron ore mergers between Rio Tinto and North Ltd in 2000, and CVRD and Caemi in 2001. The analyses are conducted using a merger simulation model that, based on the pre-merger situation, estimates the post-merger outcome. This paper applies the so-called proportionality-calibrated almost ideal demand system (PCAIDS) model, which assumes that the product is differentiated and that the strategic variable is price. The results from the merger simulations show that in the case of the merger between Rio Tinto and North Ltd, the merged firm has a combined market share of almost 20%. However, the estimated market weighted average price effect is only 2.6%. Regarding the merger between CVRD and Caemi, the merged firm's market share is about 29%, and the estimated market weighted average price effect is 4.6%. When removing Caemi's Canadian asset, which was the Commission decision in order to allow the merger, the market price effect decreases to 3.1%. Overall the results in this study support the Commission's decisions regarding both merger cases, and shows that merger simulations of price effects can be valuable tools in merger assessments.

  • 18.
    Myrlund, Håkan
    Luleå University of Technology.
    Collapse of the state and competitiveness in mining and metallurgy: Some experience drawn from African and post- socialist countries by Olivier Bomsel1992In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 18, no 4, p. 282-282Article in journal (Other academic)
  • 19.
    Nilsson, Mats
    Luleå University of Technology.
    The environment and competitiveness in mining: Is there room for environmental self-regulation in the mining sector? (by O Bomsel et al). Comment1996In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 22, no 1-2, p. 87-89Article in journal (Other academic)
  • 20.
    Nwaila, Glen T.
    et al.
    Wits Mining Institute (WMI), University of the Witwatersrand, Private Bag 3, 2050 Wits, South Africa.
    Frimmel, Hartwig E.
    Bavarian Georesources Centre, Department of Geodynamics and Geomaterials Research, Institute of Geography and Geology, University of Würzburg, Am Hubland, D-97074, Würzburg, Germany; Department of Geological Sciences, University of Cape Town, Rondebosch, 7700, South Africa.
    Zhang, Steven E.
    Wits Mining Institute (WMI), University of the Witwatersrand, Private Bag 3, 2050 Wits, South Africa; Geological Survey of Canada, 601 Booth Street, Ottawa, Ontario, K1A 0E9, Canada; SmartMin Limited, 39 Kiewiet Street, Helikon Park, 1759, South Africa.
    Bourdeau, Julie E.
    Geological Survey of Canada, 601 Booth Street, Ottawa, Ontario, K1A 0E9, Canada.
    Tolmay, Leon C.K.
    Tolmay Enterprises, 150 Galena Avenue, Kloofendal, 1703, South Africa.
    Durrheim, Raymond J.
    School of Geosciences, University of the Witwatersrand, Private Bag 3, Wits, 2050, South Africa.
    Ghorbani, Yousef
    Luleå University of Technology, Department of Civil, Environmental and Natural Resources Engineering, Minerals and Metallurgical Engineering.
    The minerals industry in the era of digital transition: An energy-efficient and environmentally conscious approach2022In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 78, article id 102851Article, review/survey (Refereed)
    Abstract [en]

    The concept of the 4th industrial revolution is becoming a strategic determinant of sustainability, success and competitiveness in the modern mining sector. The importance of digital transformation in the mining industry has long been debated, hampered in part by the conservative nature of the mining sector. Much of the debate has focused on choosing suitable mining techniques that provide acceptable levels of ore/waste selectivity, the scale of implementation, cost reduction and suitable metallurgical extraction techniques. The purpose of this review is to give an overview of the digital transformation of the minerals and extractive industry with a focus towards energy efficiency and environmental sustainability. We address: (a) geological elements that influence the level of selectivity during mining, and technologies that deal with waste rejection; (b) eco-friendly techniques, such as tunnel-boring machines, or the use of non-explosive techniques that can assist fragmentation of ores, thereby decreasing energy requirements during mineral processing and improving mineral recovery; (c) use of low-water-consumption automated ore-waste sorting systems; (d) selective metal leaching using coarse particle percolation as an alternate method for treating complicated low-grade ores; and (e) assessing new technological boundaries for the mineral sector. A combination of these aforementioned processes will significantly reduce mining waste. Orebody features, mining methods and equipment, desired scales of implementation, alignment with circular strategies, ore extraction efficiency, and socio-economic factors all play a role in the development and implementation of new technologies and techniques.

  • 21.
    Nysten-Haarala, Soili
    et al.
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Klyuchnikova, Elena
    Kola Science Center.
    Helenius, Heidi
    University of Lapland, Rovaniemi.
    Law and self-regulation: Substitutes or complements in gaining social acceptance?2015In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 45, p. 52-64Article in journal (Refereed)
    Abstract [en]

    Mining industry needs a social license to operate (SLO) on local, national and global levels. In this research we study six companies in three different countries in the Kolarctic Area. All except one company seem to focus on getting the social license at the local level with agreements with other land users and local communities. For new companies a local social license seems to be more difficult to earn, but the old ones have gained it with their earlier behavior. In Sweden and Finland companies also focus on global standards, mostly because of the pressure from financers. In the mining branch, endusers are not yet interested in social responsibility of the companies. Globally functioning multinationals have, however, been alerted to develop industrial standards under the pressure of NGOs. In some mining sectors such as gold mining, international standards already play a significant role. In gaining the social license, the involvement of NGOs, which now is rather modest, might be one way to develop global standards and improve reputation. Companies, which are successfully focusing on the local level, might also gain from NGO cooperation on the national level, where the reputation of the mining industry in Sweden and especially in Finland has suffered from sporadic bad performers. Russian companies have their own challenges because of the weak formal institutions of the country. There both good national relations with the power structures and a strong role in developing the surrounding areas are fundamental

  • 22.
    Piçarra, Alexandre
    et al.
    Ecole Nationale Supérieure de Géologie, GeoRessources UMR 7359 CNRS, University of Lorraine, 2 Rue du Doyen Marcel Roubault, BP 10162, 54505, Vandoeuvre-lès-Nancy, France.
    Annesley, Irvine R.
    Ecole Nationale Supérieure de Géologie, GeoRessources UMR 7359 CNRS, University of Lorraine, 2 Rue du Doyen Marcel Roubault, BP 10162, 54505, Vandoeuvre-lès-Nancy, France.
    Otsuki, Akira
    Luleå University of Technology, Department of Civil, Environmental and Natural Resources Engineering, Geosciences and Environmental Engineering. Ecole Nationale Supérieure de Géologie, GeoRessources UMR 7359 CNRS, University of Lorraine, 2 Rue du Doyen Marcel Roubault, BP 10162, 54505, Vandoeuvre-lès-Nancy, France.
    de Waard, Robbert
    Ecole Nationale Supérieure de Géologie, GeoRessources UMR 7359 CNRS, University of Lorraine, 2 Rue du Doyen Marcel Roubault, BP 10162, 54505, Vandoeuvre-lès-Nancy, France.
    Market assessment of cobalt: Identification and evaluation of supply risk patterns2021In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 73, article id 102206Article in journal (Refereed)
    Abstract [en]

    Since the 1950s all through the 1670s there has been a considerable economic growth of the least developed and devolving countries nowadays. The world will certainly demand more raw materials to sustain this growth, and therefore their supply will need proper adjustments to keep the material market stable. The possibility of supply shortage has been a growing agenda of developed countries (i.e., the member states of the EU). This article discussed the case of cobalt, by using the German Federal Institute for Geosciences and Natural Resources and Volkswagen (BGR-VW) method to analyze historical developments, with the primary goal of the identification and thus quantification of long term supply risks. This study examined past scenarios that shifted the demand and supply behavior of the cobalt market. Several indicators were calculated and classified according to their potential effect on the supply risk of cobalt. By using the assessment presented in this article, industries and other parties with interests in the cobalt market can more accurately judge the future and current risks in the demand and supply of cobalt.

  • 23.
    Poelzer, Gregory
    et al.
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Yu, Stan
    College of Arts and Science, University of Saskatchewan, Saskatoon, Canada.
    All trust is local: Sustainable development, trust in government and legitimacy in northern mining projects2021In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 70, article id 101888Article in journal (Refereed)
    Abstract [en]

    Gaining and maintaining legitimacy serves as one of the central goals for public officials for the sake of efficacy. Operating in a legitimacy deficit raises both political and economic costs as citizens lose trust in public institutions and processes hit delays and policy is ignored. For administrators tasked with resource extraction, strong incentives exist to improve the efficiency and effectiveness of their activities. To do this, understanding the citizens directly affected by resource development – their values and beliefs on sustainability – aids government in accomplishing its goals with lower costs. The greater the congruence between government and citizens perspectives, the greater the legitimacy. Norrbotten and Västerbotten, Sweden and Saskatchewan, Canada serve as the two cases in this paper. Both jurisdictions have established mining operations and, in the international context, strong regulatory frameworks. Further, during the mineral price boom, both regions saw increased foreign investment and new mine applications. Using survey data that focused on the perspective and values of residents living near potential mining operations, we look at the connection between trust in government and the acceptability of mining. Our findings indicate that trust in government holds the potential to overcome differences in values on sustainability; important for the on-going contentious debates on resource development.

  • 24.
    Rachidi, Ntebatše R.
    et al.
    School of Geosciences, University of the Witwatersrand, Private Bag 3 Wits 2050, South Africa.
    Nwaila, Glen T.
    School of Geosciences, University of the Witwatersrand, Private Bag 3 Wits 2050, South Africa.
    Zhang, Steven E.
    SmartMin Limited, 39 Kiewiet Street, Helikon Park, 1759, South Africa.
    Bourdeau, Julie E.
    SmartMin Limited, 39 Kiewiet Street, Helikon Park, 1759, South Africa.
    Ghorbani, Yousef
    Luleå University of Technology, Department of Civil, Environmental and Natural Resources Engineering, Minerals and Metallurgical Engineering.
    Assessing cobalt supply sustainability through production forecasting and implications for green energy policies2021In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 74, article id 102423Article in journal (Refereed)
    Abstract [en]

    Transitioning to a decarbonized and circular economy is paramount for climate change mitigation and sustainable development. In this paper we assess the global production trends of cobalt, an energy-transition metal (ETM), and its supply sustainability. Accurate production forecasting of ETMs is essential to understand the dynamics of energy supply security and adequately plan for a change from fossil fuel energy to renewable energy production. Evaluations of market concentrations demonstrate that cobalt is a high-risk market characterized by production fluctuations and supply-chain complexities. We forecast the cobalt production using several methods. Results from both of the Auto Regressive Integrated Moving Average (ARIMA) and Holt's methods show a linear increase in world cobalt production for the short term, while a Hubbert model predicts a world production decline beginning in the late 2010s. These predictions, coupled with geopolitical, socio-environmental, and techno-economic influences on the market, reinforce the concern regarding cobalt supply sustainability. Although alternative avenues for sourcing cobalt, such as secondary urban mining and stockpiling exist, they are unlikely to become major suppliers in the short term, which highlights the need to accurately forecast primary production. Increasing interests in critical raw materials (CRMs) in policy spheres also heightens the necessity to anticipate the future of cobalt supply as governmental entities acknowledge the imbalance of CRMs in international trade. Well-researched and well-designed policies, that incorporate environmental sustainability and non-discriminatory economic growth, can facilitate an equitable shift to a greener and more circular economy. At the forefront of this shift should be ethical environmental and resource governance that recognizes the inequalities in socio-economic development and energy-transition, and mandates for a just transition towards a low carbon future.

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  • 25.
    Radetzki, Marian
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences. SNS Energy, Stockholm, Sweden.
    A scrutiny of the motives for hard coal subsidies in Western Europe1995In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 21, no 2, p. 99-106Article in journal (Refereed)
    Abstract [en]

    Security of energy supply, and employment considerations are frequently said to provide major justifications for the colossal subsidies to West European coal production. This paper scrutinizes the validity of the two motives. The production cut following from subsidy elimination would result in a very small change of West European energy self-sufficiency, with doubtful repercussions on supply security. The impact on the region's employment would be barely perceptible. Germany stands out as the country that would be most heavily affected by coal subsidy elimination. Even in Germany, however, the public support expended on coal could be put to much more efficient alternative use for the promotion of energy supply security and employment creation. It is concluded that the two motives for coal support lack validity.

  • 26.
    Radetzki, Marian
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Competitive strength in mineral production: introduction1992In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 18, no 4, p. 235-236Article in journal (Other academic)
  • 27.
    Radetzki, Marian
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Competitiveness and sustainability in natural resource exploitation: Editor's introduction1996In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 22, no 1-2, p. 1-4Article in journal (Other academic)
  • 28. Radetzki, Marian
    Market structure and bargaining power: a study of three international mineral markets1978In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 4, no 2, p. 115-125Article in journal (Refereed)
    Abstract [en]

    This paper considers how differences in the structure and arrangements between the international markets for bauxite, iron ore and copper affect the bargaining strength and division of benefits between buyers and sellers. After describing the characteristic features of each market, and noting the absence of appropriate economic theory to disentangle the issue at hand, an attempt is made to clarify the problem by considering the difference between the markets in terms of five factors EM DASH degree of concentration, ability of the parties to inflict losses on each other, varying shares of the raw material in final product prices, structure of the market in which the final products are sold, and the process of trade negotiation. (25 refs.)

  • 29. Radetzki, Marian
    Mineral commodity stabilization, the producers' view1977In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 3, no 2, p. 118-126Article in journal (Refereed)
    Abstract [en]

    The relative merits of production cuts and buffer stocks as measures for market stabilization in mineral commodity markets are compared. It is concluded that, although under certain conditions producers may gain by building up buffer stocks at times of relatively low demand, the low global price elasticities in most minerals markets make it likely that producers' interests would usually be better served by production cuts when demand falls. (10 refs.)

  • 30. Radetzki, Marian
    Regional development benefits of mineral projects1982In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 8, no 3, p. 193-200Article in journal (Refereed)
    Abstract [en]

    This paper discusses the development impact of mining and mineral processing on the regions in which they are located. The discussion is organized so as to be of relevance for policy formulation in resource-rich developing countries which consider the exploitation of their mineral wealth. The hypothesis is that mining technology, interpreted in a broad sense, has undergone a profound change since 1900. In consequence, experiences of mineral-based regional development in the industrialized countries around the turn of the century are of little relevance to the Third World in the 1980s.

  • 31.
    Radetzki, Marian
    Luleå University of Technology, Department of Social Sciences, Technology and Arts, Social Sciences.
    Review of “Javier Blas and Jack Farchy, The World for Sale, Money, Power and the Traders who Barter the Earth's Resources, Random House, 2021, 410 pages, £14.99.”2021In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 72, article id 102113Article, book review (Other academic)
  • 32.
    Radetzki, Marian
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Seven thousand years in the service of humanity: the history of copper, the red metal2009In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 34, no 4, p. 176-184Article in journal (Refereed)
    Abstract [en]

    Measured by weight, copper is the third most important metal used by man. The annual value of its 2007 output was on a par with the GDP of e.g. Ukraine. Copper is also one of the oldest metals, its employment going back 7000 years. For millennia, it was predominantly employed for decorative purposes, coinage and in warfare. Technical breakthroughs in antiquity, like smelting and alloying, expanded its production and enhanced its utility. Copper's true heyday occurred after 1850, with the usage of electricity. In the period since then, volumes increased 300-fold, while costs and prices declined. With impressive progress in the technology of its production and consumption, the red metal has been able to hold its own, despite the emergence over history of formidable substitutes like iron, aluminum, plastics and optic fiber.

  • 33.
    Radetzki, Marian
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Technological trajectories and the human environment2001In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 27, no 1, p. 53-54Article in journal (Other academic)
    Abstract [en]

    Review of: Technological trajectories and the human environment / edited by Jesse H. Ausubel and H. Dale Langford. Washington, D.C. : National Academy Press, 1996 ISBN: 0-309-05133-9

  • 34.
    Radetzki, Marian
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    The anatomy of three commodity booms2006In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 31, no 1, p. 56-64Article in journal (Refereed)
    Abstract [en]

    Three major commodity booms since the second world war are identified and analyzed. In all three, demand shocks predominated as triggers to the commodity price rises. The first boom, in 1950-51, was caused by the massive inventory buildup in response to the Korean war. The second, in 1973-74, was accentuated by widespread harvest failures and by OPEC's market management, which tripled the price of oil. The third boom started in 2004 and has not yet run its course. This time, the explosive growth of China's and India's raw materials demand has played a key role. The first two booms collapsed as the world economy went into recession and excessive inventories were sold out. The third boom may prove more durable since the world economy continues to expand briskly and commodity inventories have remained small.

  • 35.
    Radetzki, Marian
    Mineral Economics Department, Colorado School of Mines, Golden, CO, USA.
    The decline and rise of the multinational corporation in the metal mineral industry1992In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 18, no 1, p. 2-8Article in journal (Other academic)
    Abstract [en]

    The golden age of the mining multinational in the 1950s and the early 1960s gave way to decline as a consequence of economic nationalism in many host countries in the late 1960s and 1970s. During the late 1980s, however, the mining multinational began to regain prominence in international mineral development. This paper reviews the historical evolution of the role of the mining multinational and then looks to the future. It predicts a period of greater cooperation between host governments and mining multinationals.

  • 36.
    Radetzki, Marian
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    The relentless progress of commodity exchanges in the establishment of primary commodity prices2013In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 38, no 3, p. 266-277Article in journal (Refereed)
    Abstract [en]

    A continuously expanding group of commodities are being priced on commodity exchanges. This paper explains the causes to the increasing preference of exchanges as pricing instruments. It also provides the detail of the shift in the 1970s and 1980s from producer determined prices to prices set by commodity exchanges for three major commodities—aluminum, nickel and petroleum.

  • 37.
    Radetzki, Marian
    et al.
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Eggert, Roderick G.
    Colorado School of Mines.
    Lagos, Gustavo
    Pontificia Universidad Católica de Chile.
    Lima, Marcos
    Pontificia Universidad Católica de Chile.
    Tilton, John E.
    Pontificia Universidad Católica de Chile.
    The boom in mineral markets: how long might it last?2008In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 33, no 3, p. 125-128Article in journal (Refereed)
    Abstract [en]

    The commodity price boom that emerged in 2004 has proved far more persevering than its predecessors of 1950 and 1973. Some analysts have suggested that it may represent the start of a "supercycle" caused by the voracious raw materials demand from China and other emerging economies, with prices remaining high for 20-30 years. We offer an alternative explanation. For a variety of reasons, the establishment of new capacity in minerals and energy to match the accelerated demand trends is more time consuming than commonly assumed, and may take a decade or longer. As soon as the new capacity is in place, however, the boom will be punctuated. Prices may collapse much earlier in the event of a severe recession that cuts the growth in commodity demand.

  • 38. Radetzki, Marian
    et al.
    Markowski, Aleksander
    Bank of Sweden.
    State ownership and the price sensitivity of supply: the case of the copper mining industriy1987In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 13, no 1, p. 19-34Article in journal (Refereed)
    Abstract [en]

    The paper attempts to verify the claim that output in state owned copper mining industries is less sensitive to price changes than in private ones. This is done by comparing the price sensitivity of copper supply in countries with state and privately owned copper industries and by testing whether nationalization leads to changes in the supply behaviour of copper mining industries. It is found that low supply elasticities and nationalizations are both the result of a country's high dependence on copper and are not themselves causally related. Refs.

  • 39.
    Radetzki, Marian
    et al.
    SNS Energy, Stockholm, USA; Mineral Economics Department, Colorado School of Mines, USA.
    Tilton, John E.
    Colorado School of Mines, USA; University Fellow, Resources for the Future, Washington, USA.
    Invisible inventories: the case of copper1992In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 18, no 1, p. 32-44Article in journal (Refereed)
  • 40.
    Suopajärvi, Leena
    et al.
    Faculty of Social Sciences, University of Lapland, Rovaniemi.
    Poelzer, Gregory A
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Ejdemo, Thomas
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Klyuchnikova, Elena
    Kola Science Center, Institute of Problems of Industrial Ecology of the North, Kola Scientific Center, Russian Academy of Sciences.
    Korchak, Elena
    Luzin Institute of Economic Studies, Kola Science Centre.
    Nygaard, Vigdis
    NORUT Northern research institute.
    Social sustainability in northern mining communities: A study of the European North and Northwest Russia2016In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 47, p. 61-68Article in journal (Refereed)
    Abstract [en]

    Social sustainability, one of the three pillars of the sustainable development framework, presents a challenging theoretical and empirical concept to investigate. Many of the prominent debates on sustainable development focus on the challenge of managing economic and environmental issues, leaving the social side of the equation less well-defined. The article expands on the concept of social sustainability through a qualitative study of mining projects in the European North and Northwest Russia, utilizing over 80 thematic interviews in local communities.In our approach social sustainability is understood two dimensional: procedural and contextual. Procedural social sustainability refers to the planning and decision-making of the mining process during mining operations. Contextual social sustainability covers the specific features of the locality including historical experiences of extractive industries and future visions of the community. From the procedural perspective there were two general themes important for the local communities: knowledge and understanding of environmental changes caused by mining and second, the ability to be heard and have an impact on decisions about mining operation. From contextual dimension of social sustainability the main dilemma in Northern communities is between the fear and even anxiety of negative environmental impacts and viability of Northern localities generated by mining providing e.g. employment opportunities, prosperity and better service-structure.

  • 41.
    Söderholm, Kristina
    et al.
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Söderholm, Patrik
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Helenius, Heidi
    University of Lapland, Rovaniemi.
    Pettersson, Maria
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Viklund, Roine
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Masloboev, Vladimir
    Institute of Industrial Ecology Problems in the North, Kola Science Center.
    Mingaleva, Tatiana
    Institute of Industrial Ecology Problems in the North, Kola Science Center.
    Petrov, Viktor
    Institute of Industrial Ecology Problems in the North, Kola Science Center.
    Environmental Regulation and Competitiveness in the Mining Industry: Permitting Processes in Finland, Sweden and Russia2015In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 43, p. 130-142Article in journal (Refereed)
    Abstract [en]

    This paper investigates to what extent and under what circumstances environmental regulation can be designed and implemented to jointly achieve positive environmental outcomes and sustained competitive strength in the mining industry. First the paper provides a conceptual analysis of the impacts of environmental regulations on mining competitiveness, including a discussion of how the environmental-competitiveness trade-off can be affected by various regulatory design and implementation strategies. Methodologically we distinguish between the flexibility, predictability and stringency of the regulations, and in a second step these analytical concepts are illustrated in the empirical context of the environmental permitting processes in Finland, Sweden and Russia. An important result is that in these countries there has been a lack of timeliness and predictability in the environmental regulations (e.g., uncertainty about the interpretation of the legislation, delays due to appeals etc.). These problems can in part be addressed by, for instance: (a) allocating more resources to the regulatory authorities; (b) establishing more consensus-based regulatory interactions between the mining industry and the authorities; and (c) introducing more standardized procedures and road maps for environmental impact assessments, permit applications and not the least for how to interpret specific legal rules in the context of mining.

  • 42.
    Söderholm, Patrik
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Economists and the environment: what the top economists say about the environment - Ravaioli, C1995In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 21, no 4, p. 287-288Article in journal (Other academic)
    Abstract [en]

    Carla Ravaioli (with a contribution by Paul Ekins) London, Zed Books, 1995, 212 pp, ISBN 1-85649-278-8 . Review

  • 43.
    Söderholm, Patrik
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Fuel flexibility in the West European power sector2000In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 26, no 3, p. 157-170Article in journal (Refereed)
    Abstract [en]

    This paper analyzes the role of fuel flexibility in the West European power generation sector. Fuel flexibility is recognized to have two important features. It improves the power sector's ability to respond to fuel supply interruptions, and it permits short-run price-induced interfuel competition. The security of supply issue is examined by assessing the ability of the West European power sector to respond to an interruption in gas imports. This ability is found to be high. Especially the use of oil in dual- and multi-fired plants provides a significant buffer against a potential gas supply cut. In an attempt to measure the degree of price-induced interfuel substitution in West European power generation two flexible cost functions are employed; the Translog and the Generalized Leontief. The cross-price elasticities of fossil fuel demand generated by these indicate notable short-run interfuel substitution in Western Europe, in particular between oil and gas. Since emerging competitive electricity and gas markets normally induce utilities to reduce fuel costs through improved fuel contracting, short-run interfuel substitution is likely to remain significant also in the future. This has important implications for European energy markets and policies.

  • 44.
    Söderholm, Patrik
    Luleå University of Technology, Department of Social Sciences, Technology and Arts, Social Sciences.
    How environmental permitting uncertainty in large-scale mining could influence subcontractors: The underlying chicken-and-egg problem2023In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 82, article id 103585Article in journal (Refereed)
    Abstract [en]

    This paper addresses the link between the environmental permitting of mining operations and economic development in mineral-rich regions. The purpose is to investigate how uncertainty about the permitting outcomes facing a mining company could affect its subcontractors. A key conceptual point of departure is that this influence can be related to both withheld investments and a lower demand for key inputs, including labor, but also to a reduced overall attractiveness of the community, in turn making it difficult to recruit skilled labor. These issues are illustrated in the empirical context of a Swedish iron ore producer, which for over two years faced the risk of having its existing environmental permit revoked. The results suggest that in this specific case, the main challenge for the affected subcontractors was increased difficulties in recruiting skilled personnel. At a general level, the findings indicate the need to devote increased research attention to the link between government regulation on the one hand, and business growth and regional development on the other, including reputational effects. The paper also discusses the implications for the reform of existing environmental permitting process, nevertheless arguing against the incorporation of additional dimensions of sustainability in this process.

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  • 45.
    Söderholm, Patrik
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    The competition between coal and natural gas: the importance of sunk costs (by A Denny Ellerman)1996In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 22, no 1-2, p. 47-48Article in journal (Other academic)
  • 46.
    Söderholm, Patrik
    et al.
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Svahn, Nanna
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Mining, regional development and benefit-sharing in developed countries2015In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 45, p. 78-91Article in journal (Refereed)
    Abstract [en]

    The objective of the paper is to synthesize the existing empirical research on mining, regional development and benefit-sharing in developed countries. Specifically, the paper presents a review of the literature addressing how the regional development impacts of mining ventures (e.g., employment multipliers) can be comprehended and assessed empirically, as well as the role of various benefit-sharing instruments in generating a more inclusive development. These issues are investigated in the context of selected practical experiences in four high-income mining countries (Australia, Canada, Chile and the USA). Important issues and challenges that deserve increased attention in future research are identified. These include, for instance, the relationship between mining competitiveness and benefit-sharing, and the efficient use of regional development investment funds.

  • 47.
    Tilton, J.E.
    et al.
    Division of Economics and Business, Colorado School of Mines, Golden, Colorado.
    Humphreys, D.
    Independent Consultant, London.
    Radetzki, Marian
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Investor demand and spot commodity prices: Reply 22012In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 37, no 3, p. 403-404Article in journal (Other academic)
    Abstract [en]

    This, our second reply to Östensson, supplements our earlier more technical analysis with a simple intuitive explanation of how investor demand can be driving commodity prices higher even when investor stocks are falling.

  • 48.
    Tilton, John E.
    et al.
    Colorado School of Mines, Division of Economics and Business. Pontificia Universidad Católica de Chile, Department of Mining Engineering, Santiago, Chile.
    Crowson, Phillip C.F.
    Centre for Energy, Petroleum and Mineral Law & Policy, University of Dundee.
    DeYoung Jr, John H.
    Herndon, VA, USA.
    Eggert, Roderick G.
    Colorado School of Mines, Division of Economics and Business.
    Ericsson, Magnus
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Guzmán, Juan Ignacio
    Pontificia Universidad Católica de Chile, Department of Mining Engineering, Santiago.
    Humphreys, David
    DiaEcon Advisors, London.
    Lagos, Gustavo
    Pontificia Universidad Católica de Chile, Department of Mining Engineering, Santiago.
    Maxwell, Philip
    Curtin University, Faculty of Science and Engineering, Perth, Western Australia.
    Radetzki, Marian
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Singer, Donald A.
    Singer Consulting, Cupertino, CA.
    Wellmer, Friedrich-W.
    Academy of Geosciences and Geotechnology, Hannover. National Academy of Science and Engineering, Munich and Berlin, Germany.
    Public policy and future mineral supplies2018In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 57, p. 55-60Article in journal (Refereed)
    Abstract [en]

    A widespread and pessimistic view of the availability of mineral commodities calls for strong government initiatives to ensure adequate future supplies. This article provides a more market oriented and optimistic perspective, one that focuses on production costs and prices rather than physical availability. It sees short-run shortages continuing to plague commodity markets in the future as in the past. Though painful while they last, these shortages are temporary and do not pose a serious long-run threat to human welfare. Moreover, even without government intervention, they self-correct. The sharply higher prices that they evoke create strong incentives that foster supply and curb demand.

    Potentially more serious are long-run shortages due to mineral depletion. Such shortages are often thought to be inevitable, a conclusion that flows directly from the physical view of depletion. For various reasons, we reject this view of depletion in favor of an economic view. The latter recognizes that depletion may create long-run shortages, but stresses that this need not be the case if new technology can continue to offset the cost-increasing effects of depletion in the future as it has in the past. The economic view also suggests that a list of mineral commodities most threatened by depletion can best be compiled using cumulative availability curves rather than the more common practice of calculating commodity life expectancies based on estimates of available stocks.

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  • 49.
    Tilton, John E.
    et al.
    Division of Economics and Business, Colorado School of Mines, Golden, Colorado.
    Humphreys, David
    Radetzki, Marian
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Investor demand and spot commodity prices2011In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 36, no 3, p. 187-195Article in journal (Refereed)
    Abstract [en]

    The on-going debate over the influence of investor demand on spot commodity prices largely attempts to assess this influence by measuring the growth in investor demand in recent years. Given the serious data problems that plague such analyses, this article pursues another approach in the hope of providing useful insights into the impact of investor demand on spot commodity prices. It focuses on the mechanisms by which investor demand affects spot prices, and in particular on two questions. First, how does an increase in investor demand on the futures markets affect the spot market and spot price? Second, when investor demand is increasing and pushing a commodity's price up, do physical stocks of the commodity also have to be rising, as economists and others widely assume? On the first question, the article concludes that a surge in investor demand raising prices on the futures markets will have a direct and comparable effect on the spot market prices when these markets are in strong contango. However, when markets are in weak contango or backwardation, price movements in the futures markets have a much looser effect on spot prices. As a result, changes in investor demand on the futures markets may have little or no influence on spot prices in the absence of a strong contango. Instead, changes in fundamentals (that is, producer supply and consumer demand) and possibly changes in investor demand taking place directly on the spot market largely determine the spot price at such times. On the second question, the article shows that investor demand can be pushing up a commodity's price even when investor stocks are falling, despite the widespread presumption to the contrary.

  • 50.
    Tilton, John E.
    et al.
    Colorado School of Mines.
    Humphreys, David
    Radetzki, Marian
    Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.
    Investor demand and spot commodity prices: Reply2012In: Resources policy, ISSN 0301-4207, E-ISSN 1873-7641, Vol. 37, no 3, p. 397-399Article in journal (Other academic)
    Abstract [en]

    In a recent article (Tilton et al., 2011), we argue that even when investor stocks are declining an increase in investor demand can cause a commodity's price to rise, a conclusion that is both contrary to conventional wisdom and counter-intuitive. In his comment on our article, Olle Östensson (2011) challenges this finding. After assessing his concerns in this reply, we maintain that our original finding is valid: investor demand can be driving commodity prices higher even when investor stocks are falling.

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