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Multiproduct mine output and the case of mining waste utilization

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  • Packey, Daniel J.

Abstract

This article addresses the concepts of economies of scope and multiproduct production, subadditivity and transray convexity as it applies to the mining industry. The article goes on to expand these concepts to include the case of mining waste utilization. It discusses how the modification of mining wastes into a marketable product can develop a relationship across the cost functions of the modified mining waste and ore production and how this interrelationship affects the profit maximizing condition. It discusses four possible outcomes from mining waste modification and its development into marketable products on the profitability and production of ore by the firm. Finally, it discusses mining waste utilization effects on rehabilitation costs and the potential for a decrease in the adverse community effects due to mine closure.

Suggested Citation

  • Packey, Daniel J., 2012. "Multiproduct mine output and the case of mining waste utilization," Resources Policy, Elsevier, vol. 37(1), pages 104-108.
    • Handle: RePEc:eee:jrpoli:v:37:y:2012:i:1:p:104-108
    DOI: 10.1016/j.resourpol.2011.11.002
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    References listed on IDEAS

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    1. Baumol, William J, 1977. "On the Proper Cost Tests for Natural Monopoly in a Multiproduct Industry," American Economic Review, American Economic Association, vol. 67(5), pages 809-822, December.
    2. Baumol, William J & Bailey, Elizabeth E & Willig, Robert D, 1977. "Weak Invisible Hand Theorems on the Sustainability of Multiproduct Natural Monopoly," American Economic Review, American Economic Association, vol. 67(3), pages 350-365, June.
    3. Baumol, William J & Braunstein, Yale M, 1977. "Empirical Study of Scale Economies and Production Complementarity: The Case of Journal Publication," Journal of Political Economy, University of Chicago Press, vol. 85(5), pages 1037-1048, October.
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    Cited by:

    1. Ivan Potravnyy & Andrey Novoselov & IRINA NOVOSELOVA, 2017. "Optimizing the Use of Resources of Technogenic Deposits Taking into Account Uncertainties," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(4), pages 1280-1290.
    2. Kim, Kihyung, 2020. "Jointly produced metal markets are endogenously unstable," Resources Policy, Elsevier, vol. 66(C).
    3. Fizaine, Florian, 2013. "Byproduct production of minor metals: Threat or opportunity for the development of clean technologies? The PV sector as an illustration," Resources Policy, Elsevier, vol. 38(3), pages 373-383.
    4. Jordan, Brett, 2018. "Economics literature on joint production of minerals: A survey," Resources Policy, Elsevier, vol. 55(C), pages 20-28.
    5. Redlinger, Michael & Eggert, Roderick, 2016. "Volatility of by-product metal and mineral prices," Resources Policy, Elsevier, vol. 47(C), pages 69-77.
    6. Tulsidas, Harikrishnan & Gabriel, Sophie & Kiegiel, Katarzyna & Haneklaus, Nils, 2019. "Uranium resources in EU phosphate rock imports," Resources Policy, Elsevier, vol. 61(C), pages 151-156.

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    More about this item

    Keywords

    Mine waste utilization; Multiproduct production; Rehabilitation; Mine closure;
    All these keywords.

    JEL classification:

    • Q30 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - General
    • Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects
    • L72 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Other Nonrenewable Resources

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