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This textbook provides an introduction to the field of mineral economics and its use in understanding the behaviour of mineral commodity markets and in assessing both public and corporate policies in this important economic sector. The focus is on metal and non-metallic commodities rather than oil, coal, and other energy commodities. The work draws on John Tilton's teaching experience over the last 30 years at the Colorado School of Mines and the Catholic University of Chile, as well as short courses for RioTinto and other mining companies. This is combined with the professional consulting and academic research of Juan Ignacio Guzmán over the past decade, in order to demonstrate the industry application of the economic principles described in the earlier chapters. The book should be an ideal text for graduate and undergraduate students in the fields of mining engineering and natural resource economics and policy. It should also be of interest to professionals and investors in mining and commodity markets, and those undertaking continuing education in the mineral sector.
The sharp rise in mineral use has revived concern about scarcity. Economist John Tilton responds by analyzing recent trends in the consumption and availability of minerals that are most integral to the needs of modern civilization. He reminds readers that, if the arguments about scarcity sound familiar, it is because the story of minerals scarcity is almost as old as human history-and so too is substitution and technological innovation. The issue at hand is the unprecedented acceleration in exploitation and use. Given global population growth, rising living standards, and environmental concerns, how seriously should todays society take the threat of mineral exhaustion? On Borrowed Time? prov...
This textbook provides an introduction to the field of mineral economics and its use in understanding the behaviour of mineral commodity markets and in assessing both public and corporate policies in this important economic sector. The focus is on metal and non-metallic commodities rather than oil, coal, and other energy commodities. The work draws on John Tilton's teaching experience over the last 30 years at the Colorado School of Mines and the Catholic University of Chile, as well as short courses for RioTinto and other mining companies. This is combined with the professional consulting and academic research of Juan Ignacio Guzmán over the past decade, in order to demonstrate the industry application of the economic principles described in the earlier chapters. The book should be an ideal text for graduate and undergraduate students in the fields of mining engineering and natural resource economics and policy. It should also be of interest to professionals and investors in mining and commodity markets, and those undertaking continuing education in the mineral sector.
The sharp rise in mineral use has revived concern about scarcity. Economist John Tilton responds by analyzing recent trends in the consumption and availability of minerals that are most integral to the needs of modern civilization. He reminds readers that, if the arguments about scarcity sound familiar, it is because the story of minerals scarcity is almost as old as human history-and so too is substitution and technological innovation. The issue at hand is the unprecedented acceleration in exploitation and use. Given global population growth, rising living standards, and environmental concerns, how seriously should today‘s society take the threat of mineral exhaustion? On Borrowed Time? p...
Many low-income mineral-exporting countries have seen their per capita income decline or their standards of living stagnate over the last several decades. Is it possible, contrary to natural expectations, that domestic mineral wealth actually retards development and growth? Lectures by leading scholars identify factors that lie behind the negative performance and offer specific policy guidance to help make mineral wealth an engine for economic development.
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This book discusses the history of royalties and the types currently in use, covering issues such as tax administration, revenue distribution and reporting. It identifies the strengths and weaknesses of various royalty approaches and their impact on production decisions and mine economics. A section on governance looks at the management of mining revenue by governments and the need for transparency. There is an attached CD with examples of royalty legislation from over 40 countries.