...there was the ‘gold standard’, where a country maintained a stockpile of gold to back every dollar in circulation. This meant any person could present paper currency to the government and demand in exchange an equal values of gold, this is no longer used in any nation due to its cumbersome. Now gold is used as a financial backing for currency (The Many Uses of Gold 2005-2013). Copper is essential in everyday life. It is used universally in the home for water pipes, locks, electrical wiring and electronics. Copper has excellent thermal and electrical conductive properties, as well as being strong and ductile it is hygienic, has a resistance to corrosion and is extremely easy to alloy (Copper – a vital element 2013). It is due to these properties that copper is such a popular metal that is widely used in the infrastructure, electrical, mechanical and construction sectors of society. Gold and copper are both extracted from the earth’s core through mining techniques. Papua New Guinea (PNG) is ranked as the 11th gold producer in the world (Gold Mining in Papua New Guinea- Overview 2013). Since mining in PNG began in 1970 it is approximated that 1100t of gold has been extracted. Due to the high demand of these precious metals, many overseas mining companies have established many mining operation in PNG (Gold Mining in Papua New Guinea- Overview 2013). And in doing so, has created a mixture of controversial opinions. Major concerns continue...
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...An Analysis of the Government's Role in the Mining Industry in the Philippines Steven B. Baria Kim Edbonn C. Castillo Maridy D. Nuyda Economics 151 Prof. Teresa J Ho March 13, 2013 The stance of the government in recapturing the essence of the mining industry in the country has been reiterated time and again. The industry has been tapped as one of the most viable provider of revenues and employment through local and foreign investments. Past administrations had stressed the importance of favorable investment conditions that is supposed to promote the economic growth and progress, particularly in the mining industry. However, various issues has haunted the implementation of a holistic mining industry in the nation. This paper aims to provide a view of the efficiency and equity issues that plagues the whole of the mining sector and what the government can do in order to cater to these considerations. The Philippine case would be the vantage point of the study. The paper starts by defining some terms that is helpful in understanding the entire paper. A discussion of the externalities emanating from the mining industry and equity and efficiency arguments follows suit. Lastly an analysis of the government’s role in the Philippines and some recommendations are given. Mining: Some Definitions Mining is the useful extraction of minerals and other geological materials from the surface of the earth. This involves complicated and expensive processes and is accompanied by externalities...
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...PB-13-02 Realizing the Philippines’ Mining Potential Given the country’s mineral wealth, the mining industry can be a key driver of economic growth. However, the industry is hounded by various issues and challenges. These include the social and environmental costs, a revenue sharing agreement that is seen as unfair and inequitable, the overlapping and weak enforcement of mining laws, and other problems relating to the mining sector. Unless these are addressed through a clear, consistent and competitive mining policy, the sector’s huge potential to bring economic benefits will unlikely be realized. The SEPO Policy Brief, a publication of the Senate Economic Planning Office, provides analysis and discussion on important socioeconomic issues as inputs to the work of Senators and Senate Officials. The SEPO Policy Brief is also available at www.senate.gov.ph. Introduction The mining industry has a great potential to be a key growth sector in the Philippines given the country’s vast and rich mineral resource deposits. Mining can spur economic growth and generate employment opportunities in local communities as mining companies invest in infrastructure, utilities and other facilities within the mining sites. It can likewise contribute to the country's foreign-exchange earnings through exports and bring much needed revenues to the government through taxes and fees paid on mining and other related activities. It appears though that the Philippine mining industry has not lived up to its...
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...Gold Mining: Why it should be banned in the Philippines? Gold mining in the Philippines can be traced hundreds of years back before the colonizers came to the country. As early as 1521, our ancestors were already panning gold and have decorated themselves with gold accessories. As years passed, the growth of the mining industry has increased. In 1995, Philippine Mining Act was passed which the government allowed foreign companies to fully operate in the country; it created backlash from Filipinos stating that they should be the only ones to mine their own resources but the government still allowed it for large investments coming from foreign companies which will boost the economy. 1 The country’s mining industry was also ignited by the legend of Yamashita’s treasure. The legend has attracted tourists and curious treasure seekers to look out for the supposed ‘treasure’ of gold that the Japanese Army had hidden in the different parts of the country. 2 It seems that gold mining is a lucrative business. But is mining helpful to the country? Mining have garnered vast impacts in every aspect of the country. It boosts the economy by letting the mining companies give the government its share of their profits. But only a margin of profits is being given to the government. According to Governor Joey Salceda of Albay, “which hosts the Rapu-Rapu Polymetallic Project, only received P3.4 million from the mining company’s revenues. The company’s export value reached P7.7 billion...
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...The Australian mining tax is better known as the mineral resource rent tax. This tax is a tax on profits generated from the exploitation of non-renewable resources within Australia. The tax takes 30 per cent on all mining profits that exceed the Government Bond Rate in addition to the usual company income tax, when profits exceed $75 million. The reason this tax should be deemed so appealing to the people of Australia is because it will help to address the imbalances in the economy, while sharing the profits with the Australian people. The average worker would gain an extra $450 per year and tax breaks will be more available to small businesses. Also, within the first three years this mining “super tax” is expected to raise $10.6 billion, which would help to boost the economy and bring the GDP of Australia up by 0.7%. The mining companies pay royalties to the states in which the minerals are being mined. There became a strong demand for these natural mineral resources and the demand led to an increase in the dollar. Recently, the cost of minerals has skyrocketed, yet the royalty payments did not rise quickly enough; calling for the need for this mining tax to be implemented to ensure that the Australian people were receiving a greater share of the profits from the money being made from mining. Economy theory fit with the topic? Comparative Advantage: Countries should specialize where they have their greatest absolute advantage (if they have absolute advantage in both goods)...
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...involved in Indian mining The following paper looks at the major problems in Indian Mining industry, the key players involved in the entire system and tries to offer suggestions to improve the efficiency of the process for the better functioning of economy PREFACE Especially when one is dealing with natural resources and public wealth, earning profits shouldn‟t be our goal, earning profits in a right way i.e environmental and society friendly way should be our goal. Any work that causes benefit to few but harm to large number shouldn‟t be done. Ethics is not simply the absence of a negative; it is not a list of „rules‟ we should follow and „regulations‟ we should not break. Rather, it is a vibrant code that expresses our values. When we live an ethical life or run an ethical business, it means our decisions, policies and behaviour are all congruent with our values. These values lay the vision for the world. 1|P ag e INTRODUCTION In a resource rich country like India, mining is one of the key industries in the Indian economy without which Indian economic growth would not have been the way it is. Having said that mining in India has been a contentious issue and has been plagued by a dangerous mix of bad policies, weak institutions, corrupt government oversight and thus regulation of India‟s mining industry is largely ineffectual. The result is chaos. The level of lawlessness that is prevailing in India‟s mining industry is hard to overstate. Illegal mining is rampant in...
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...CHAPTER 2 Kakadu National Park – The Place and its People 2.1 Kakadu – The Place 2.2 Kakadu – The People 2.3 Inscription on the World Heritage List 2.4 Mission Visit Conclusion 13 Kakadu National Park – The Place and its People CHAPTER TWO: KAKADU NATIONAL PARK—THE PLACE AND ITS PEOPLE In this chapter the Australian Government gives an historical, social and cultural background to the Park. This context is necessary to be able to assess claims that the World Heritage area is under threat. The chapter describes: • • • • • • • The history of the Park The fact that from its beginnings the Park co-existed with Aboriginal land owning interests, mining interests, and tourism interests The history of the town of Jabiru and the mechanisms to ensure that it does not harm the values of the Park The history of the mining enclaves located in the region The management principles of Kakadu National Park The role of traditional owners in the Park Its inscription on the list of World Heritage Only with the full appreciation of the way in which Kakadu National Park came into existence and was entered onto the World Heritage listing in three stages, is it possible to assess the impact of the Jabiluka proposal on the overall values and attributes of Kakadu National Park. 2.1 2.1.1 KAKADU—THE PLACE History of the Park Aboriginal people have been associated with the area of land now known as Kakadu National Park for a very long time. Archaeological evidence suggests that...
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...MINING I INTRODUCTION Brief Historical Background Digging deep into history, mining in the Philippines is one of the oldest industries in the country. Gold mining in Luzon started even in the 3rd century as reported by the Chinese merchants. Before the advent of the Spanish rule, metals—primarily gold—played an important role in shaping traditions and rituals, in indigenizing certain features of Filipino beliefs, and in developing patterns of wealth, power and authority during the period. The spirit of Spanish expansionism was at its crest when it reached the Philippines in the second half of the sixteenth century. The archipelago became the base of further efforts to conquer and evangelize new areas and design new trade routes in search primarily of spices but also of gold and other precious merchandise. The Spaniards failed to develop mining in the country, but left behind one of the basic building blocks of the present-day mining laws–the Regalian Doctrine. In essence, the Regalian Doctrine stipulates that all minerals and substances underneath all lands, public or private belong to the state. In effect, the law rests on the principle of eminent domain which reserves to the state the right to develop the mines on its own initiative or through private concessions. With the Americans, mining industries accelerated as the country’s economy strengthened its links to the needs of the industrialized countries like the US. The growth of the mining industry in the Philippines...
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...Mining Law Mining law is a very broad topic, but basically, Mining and Mineral exploration law is dealt with under the New South Wales System of Regulation under the Mining Act 1992 and the Petroleum (Onshore) Act 1991 and accompanying Regulations. These acts of parliament are essential in order to understand the way that the the regulation of mining operates in New South Wales. Many people are unaware that despite owning land, you do not necessarily own the mineral titles which are found on the land and that these can be resumed by the government if there is no license. For this reason a mining licence is necessary to establish the correct title to a mine if the minerals are under the jurisdiction of New South Wales Law. Administratively, this area is handled by the department of primary industries in New South Wales. The Mining Industry has a large body of law and regulations The Department fulfils a number of functions in the administration of mining title in New South Wales. It creates records of exploration licenses, assesses leases and processes mining lease applications. The headquarters of the Department of primary industries in New South Wales is Maitland. The department keeps a register of mineral titles and prospecting licenses. The Department also maintains the computerised Title Administration System (TAS). The overall function of the system of mining title is to provide the control mechanism for government by allowing the government to dictate the operating...
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...zAnti-Trees, Anti-Nature, Anti-People Regime: KARATULA - Pampanga's Statement on the planned cutting of trees in Mabalacat City by Kabataan Partylist Central Luzon on Monday, November 19, 2012 at 12:31am · Anti-Trees, Anti-Nature, Anti-People Regime Another Massacre? 486 trees, which are fifty years old, along the Old MacArthur Highway, Mabalacat City, have “X” marks on their trunks. These marks are made by DPWH, as a sign that they will cut these trees, because “because many people have died due to falling branches.” according to Antonio Molano, DPWH Central Luzon director. However, there are no official records that support his claims. Ironically, the Department of Environment and Natural Resources, which should be the department that will defend the environment, is the one who submitted the tree-cutting plan to the Office of the President. Anti-Trees Not only in Mabalacat, but also in the City of San Fernando, Pampanga, where the present government planned to cut 576, which are in the side of the MacArthur Highway, from Brgy. Telebastagan to Brgy. Baliti. Their reason is that, there are many motor accidents, which is caused by the trees, as if the trees are moving and the motorist aren’t. But the real reason is they want to widen the road, to lessen the road traffic. But it was proven in Brgy. Sindalan, that that’s not the solution. Actually, there are alternative roads in Pampanga, which the government can improve, like the one in Mega Dike. Unfortunately...
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...should be answered. Some people would say ‘yes’ because potash helps the economy, however others would say ‘no’ because potash mining can hurt the environment. No matter how many answers there are, there will be no right answer without negatives. Potash is a potassium compound and there are many different types, however the most common is potassium chloride. This is the potash that most people know about,...
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...trace back to the Aboriginal people...
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...Mining Industry Case Analysis | Business Ethics in a Global Context | Presented To: Dr. Jang Singh | | | | Executive Summary This report will examine the Mining Industry via ethical perspectives. This report includes a brief overview of the industry followed by an evaluation of the Mining industry’s value chain; including an environmental analysis of a mining company, as well as an evaluation of the industry’s corporate social responsibility, corporate social responsiveness and finally the corporate social performance. The Mining Industry is one of the World’s largest industries. The ‘idea’ of mining dates back to the beginning stage of civilization. Some examples of early mining can be found in Egypt, Europe and the Philippines. As of now, top mining countries are South Africa, Russia, Australia, Ukraine and Guinea. This industry faces constant technology advancement, consequently it is an expensive investment, with large profit. The Mining Industry can be controversial when looked through an ethical lens. This Industry is analysed through four perspectives. * The utilitarianism perspective, an act is morally right if the outcome benefits the greatest amount of people; * The rights perspective, basically, important entitlements that should be respected and protected in every action; * The justice perspective, fair treatment of individuals in a situation where everyone is involved and gets what they deserve to; * The virtue perspective, morally...
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...Study - AngloAmerican [pic] Business ethics and corporate social responsibility 1. Introduction Anglo American is one of the world’s leading mining companies. It is a UK public limited company and operates on a global scale. Anglo American operates mainly in the primary sector of the world economy. This, as the name suggests, covers industries involved in the first stage of economic activity, such as mining and agriculture. [pic] Anglo American operates throughout the world. It has extensive operations in Africa, where 76% of its employees live. It is also a major employer in Europe. Its Tarmac aggregates and construction products business employs nearly 7,000 people in the UK. As a primary producer, Anglo American plays an important role in the world economy. Anglo American produces five main types of raw material. [pic] Mining operations can have a big impact on the environment and on the societies where they work. Since most mineral resources belong to nation states, mining companies largely depend upon a licence to operate from governments. This allows them to extract and process minerals in return for investment and the payment of taxes and royalties. Increasingly it is also important to get the consent of local communities to mining development – a ‘social licence’ to operate. Like all businesses, mining companies are under increasing scrutiny from pressure groups as well as the general public. Anglo American seeks to adopt fair and sound business practice...
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...1. SOUTH AFRICA: NATIONALISATION AND THE MINING SECTOR As of late, the political atmosphere has been clouded with varying judgements on the great issue of whether South African mines should be nationalised or not. The camp in favour of nationalisation, Former President of ANC Youth League, Julius Malema echoes the words of the Freedom Charter in that “The National Wealth of our country… the mineral wealth beneath the soil, the banks and the monopoly industry shall be transferred to the ownership of the people as a whole”. The camp not in favour sees this vision in a different light. Nonetheless, this essay investigates the feasibility of nationalising the country’s mining sector from both a theoretical and empirical stand point. 2. WHERE IT’S ALL STARTED Nationalisation of mines has been called for in order to give back to the country as the government will have direct control over the sector. This, they believe, will present more employment opportunities, better working conditions for miners, a more efficient distribution of income and overall improvement in service delivery. Julius Malema (the main instigator behind the call for nationalisation), proposes that the state take a controlling share of 60% in all private mines, all which will be managed by a state owned mining firm (LeadershipOnline, n.d). According to Malema, nationalisation will achieve the following: ➢ Increase the State’s budget for social development objectives; ➢ Be a basis from which the...
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