Apr. 21, 2017: Why mining is appropriate for certain areas and provinces

Apr. 21, 2017: Why mining is appropriate for certain areas and provinces

Biodiversity of living things is more common in the tropics compared to those in the northern and southern hemisphere. Geological diversity of nonliving things is more common in the Pacific countries as there are more volcanic and earthquake movements in the “Pacific Rim of Fire” than the rest of the planet


That is why for almost all commodities — copper, gold, molybdenum, silver, nickel, bauxite, zinc, lead, etc. — countries in the Asia-Pacific Economic Cooperation (APEC) are the dominant suppliers and exporters. Volcanic gases and molten rocks are the main producers of mineral products below the ground.

There is a good study on the mineral potentials of APEC economies published more than two years ago. Some definitions of the terms used in the table below:

1. Mineral rent is the difference between the value of production for a stock of minerals at world prices and their total costs of production.

2. Mining Contribution Index (MCI) is calculated based on aspects of mining and metals contribution to national economies, composite for three variables: (a) Mineral export contribution in 2010 as percent of total merchandise exports, (b) Increase/decrease in mineral export contribution 2005 to 2010, and; (c) Mineral production value as a percentage of GDP in 2010.

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