Resources Policy最新文献

{"title":"Analysis of the production cost structure and future prospects of Africa's critical minerals","authors":"Mulundumina Shimaponda-Nawa ,&nbsp;Glen T. Nwaila","doi":"10.1016/j.resourpol.2025.105781","DOIUrl":"10.1016/j.resourpol.2025.105781","url":null,"abstract":"<div><div>The cost of producing critical raw materials (CRMs) in Africa is governed by economic, technological, and social factors. This study examines the historical cost structures of cobalt, copper, platinum, and zinc commodities that underpin industrial applications and account for a substantial proportion of Africa's mineral production. Based on the analysed historical data and the identified key components, a predictive framework is then developed to estimate future CRM production costs. A comprehensive analysis of production costs over the past 24 years reveals significant trends and implications for the sector. Mine cost curves demonstrate that African production costs for these elements remain competitive but exhibit substantial variability depending on the level of mechanisation, labour expenses, and energy costs. The study establishes that while labour costs declined between 2011 and 2016, mechanisation offset potential cost reductions. A notable rise in operating costs post-2019 corresponds with increased demand for cobalt and copper, particularly from the electric vehicle sector, and platinum for hydrogen-based technologies. The COVID-19 pandemic further exacerbated price volatility and operational expenses. Comparisons with the Global North indicate that African mines operate at a cost advantage for cobalt and platinum due to higher ore grades, whereas copper and zinc producers face challenges associated with deeper mining and energy price fluctuations. Time series projections suggest that production costs will increase by 70 to 80% for platinum, 60 to 65% for cobalt and copper and upto 60% for zinc by 2055, primarily due to rising mine-site costs encompassing labour, energy, and technological investment. The findings have direct implications for policymakers and investors. While Africa remains a dominant supplier of CRMs, cost dynamics suggest that strategic interventions such as investment in energy efficiency, workforce development, and sustainable mining practices will be essential in ensuring long-term competitiveness. This study provides a foundation for data-driven decision-making in the evolving landscape of mineral production in Africa.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"112 ","pages":"Article 105781"},"PeriodicalIF":10.2,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145578229","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Changes in international copper ore trading relationships due to the impact of COVID-19 pandemic: Based on social network analysis","authors":"Woolrim Lee,&nbsp;Maria Valeria Aguinaga Fonseca,&nbsp;Yusa Qursillananda,&nbsp;Munyphakdey Koet,&nbsp;Seokhui Lee","doi":"10.1016/j.resourpol.2025.105794","DOIUrl":"10.1016/j.resourpol.2025.105794","url":null,"abstract":"<div><div>Copper is an essential metal in our daily lives, but the outbreak of the COVID-19 pandemic led to unexpected changes in international trade in copper ore. This study uses social network analysis to examine the COVID-19 pandemic's impact on the international copper ore trading network, focusing on dynamics among countries participating in copper ore trading. Data from Trade Map was divided into two periods based on the outbreak of the pandemic. The findings reveal notable changes in the global copper ore market dynamics, highlighting the pandemic's influence on trade relationships. While some changes in the rankings of leading countries in overall trade, import, and export relations are observed, China maintained its dominant and strategic position in the international copper ore trade network throughout the entire study period, despite the challenges posed by the pandemic. Additionally, while South American countries such as Chile and Peru appear prominently in the copper ore export network, Asian countries emerged as major importers. This study offers a comprehensive view of the global copper ore trade, highlighting the unexpected challenges brought by the pandemic. The findings provide valuable insights for stakeholders, aiding in informed investment and policy decisions within the resource sector.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"112 ","pages":"Article 105794"},"PeriodicalIF":10.2,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145578230","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Effects of the Fundão Dam break on the performance of socioeconomic indicators in Mariana municipality, Minas Gerais State","authors":"Thiago Vinícius Alves Monteiro ,&nbsp;Valente José Matlaba ,&nbsp;Gabriel Costa Maciel Moia ,&nbsp;Jorge Filipe dos Santos","doi":"10.1016/j.resourpol.2025.105799","DOIUrl":"10.1016/j.resourpol.2025.105799","url":null,"abstract":"<div><div>The objective of this study was to analyze the effects of the collapse of the Fundão Dam on the performance of seven socioeconomic indicators in the Mariana municipality, Minas Gerais, and to evaluate the contribution of the Renova Foundation's repair and recovery actions in improving these indicators. We applied the synthetic control method, as recommended by the literature, when the unit of interest underwent a unique intervention not shared with other units. The construction of the control group considers similarities—characteristics before the event—to the treatment unit. We found that Mariana lacked an effective economic recovery after the event and that labor changes related to temporary activities had a different profile from that of those employed in mining (mostly specialized technical professionals). There was a drop in investments in sport and leisure, which are sectors associated with improving revenues and other social indicators, such as crime, as highlighted by local leaders. In addition to amplifying existing approaches to this event, this work could guide future actions by mining companies in sectors with still low performance. The study can subsidize research on other municipalities with similar situations or structural events and contribute to studies that test the socioeconomic effects of interventions.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"112 ","pages":"Article 105799"},"PeriodicalIF":10.2,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145621930","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Asymmetric volatility spillover between clean energy and nonferrous metal markets under climate risks: Portfolio hedging implications","authors":"Qingying Zheng ,&nbsp;Jintao Wu ,&nbsp;Boqiang Lin","doi":"10.1016/j.resourpol.2025.105801","DOIUrl":"10.1016/j.resourpol.2025.105801","url":null,"abstract":"<div><div>Although extensive research has been conducted on the risk spillover between clean energy and the non-ferrous metals markets, there has been limited discussion on the role of asymmetric volatility spillover and climate risks in this context. This paper integrates semivariance decomposition with a Tail Event-driven NETwork (TENET) to assess both negative (bad) and positive (good) volatility spillovers in the clean energy and non-ferrous metals markets. The study considers both climate transition and physical risks within the flexible, high-dimensional TENET framework. We find that the patterns of negative and positive volatility spillovers between clean energy and non-ferrous metals markets exhibit significant asymmetry in network structure and dynamics, as evidenced by the total connectedness index. Additionally, we confirm that incorporating physical and transition risks is crucial in analyzing volatility spillovers in these markets. Finally,the portfolio implications underscore the informational and economic value of asymmetric volatility spillover analysis. The findings of this study may have practical implications for policymakers aiming to enhance risk early warning systems and could assist investors in portfolio management.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"112 ","pages":"Article 105801"},"PeriodicalIF":10.2,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145691322","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Multilevel governance under urgency: Developing battery industry in the EU","authors":"Juha M. Kotilainen ,&nbsp;Rauno Sairinen ,&nbsp;Hanna Lehtimäki ,&nbsp;Nuppu Mielonen","doi":"10.1016/j.resourpol.2025.105825","DOIUrl":"10.1016/j.resourpol.2025.105825","url":null,"abstract":"<div><div>Urgency has become a key concept in framing the need for rapid governance action to address global sustainability challenges. However, its impact on the multilevel governance of large-scale green industrialization processes remains insufficiently explored. We propose a three-dimensional framework – encompassing multilevel reinforcement, power dynamics and societal tensions – to investigate how heightening urgency is shaping the multilevel governance of the emerging electric vehicle battery industry in the EU and Finnish policy context. We find that urgency manifests as multilevel reinforcement across all tiers of governance, resulting in rapid development, high acceptance, and swift adaptation of new policies. It influences multilevel power dynamics by intensifying competition and fostering new arrangements that appear to favor larger economies and international corporations, while simultaneously generating risks, particularly at the regional level. We identify societal tensions related to the functionality of global value chains, permitting systems, trade-offs between local and global environmental impacts, and pervasive uncertainty. This study contributes to an increased understanding of multilevel governance systems in complex green industrialization processes.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"112 ","pages":"Article 105825"},"PeriodicalIF":10.2,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145797122","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Climate policy uncertainty and the co-movement between clean energy and metal markets: A spillover perspective","authors":"Zhiwei Bi,&nbsp;Qiaosheng Wu,&nbsp;Lulu Luo","doi":"10.1016/j.resourpol.2025.105818","DOIUrl":"10.1016/j.resourpol.2025.105818","url":null,"abstract":"<div><div>Frequent changes in climate policy have intensified uncertainty and strengthened cross-market linkages between clean energy and metal markets. Climate-policy-induced uncertainty may disrupt investors’ expectations regarding clean energy projects and lead to imbalances in the supply and demand of related metals, thereby amplifying volatility spillovers between the two markets. This study employs the TVP-VAR-DY model, wavelet coherence analysis, and the GARCH-MIDAS-CPU framework to examine volatility spillovers between two representative clean energy markets (solar and wind) and seven key metal markets from both time-domain and frequency-domain perspectives. The results show that, in the time domain, significant spillover effects exist across markets, with wind energy, silver, copper, and zinc acting as net spillover transmitters, while the solar energy market plays an intermediary role. In the frequency domain, wavelet coherence results indicate that the solar energy market dominates most long-run linkages with metal markets, particularly exhibiting persistent positive co-movements with copper and zinc, reflecting its role as a key demand driver at the downstream end of the clean energy–metal supply chain. In contrast, wind energy exhibits more heterogeneous and frequency-dependent relationships, with weaker long-run persistence with metals such as nickel, lead, and tin. Overall, clean energy markets play a leading role in influencing most metal markets. Moreover, climate policy uncertainty has a significantly positive effect on market volatility and amplifies spillover transmission between clean energy and metal markets.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"112 ","pages":"Article 105818"},"PeriodicalIF":10.2,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145797125","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Scandium extraction from Malaysian industrial waste: Challenges and opportunities for a sustainable energy future","authors":"Eli Syafiqah Aziman ,&nbsp;Aznan Fazli Ismail ,&nbsp;Mohd Syukri Yahya ,&nbsp;Batari Toja Iskandar","doi":"10.1016/j.resourpol.2025.105810","DOIUrl":"10.1016/j.resourpol.2025.105810","url":null,"abstract":"<div><div>The power generation sector in Malaysia is under considerable pressure to achieve the nation's commitment to carbon neutrality, primarily due to its substantial dependence on coal. To address these issues, Malaysia has prioritised the shift from fossil fuels to renewable energy (RE) sources for electricity generation. Solid oxide fuel cells (SOFCs) are a promising renewable technology under consideration by the government to address consumer energy demand in Malaysia. The element Scandium (Sc) is primarily utilized in the third generation of SOFC, which consequently increases the demand for scandium oxide in the global market. The increased demand coupled with restricted supply, leading to higher prices of scandium oxide, could significantly impact Malaysia's renewable energy policy regarding the implementation of SOFC in its energy sector. The review examines methods for extracting scandium from a potential industrial waste in Malaysia. To effectively explore the potential and sustainability of SOFC energy in Malaysia, the government must focus on three key parameters: resource mapping and policy reform, lab-to-pilot scale technology development (TRL3–6), industry-government R&amp;D partnerships and commercialization, full integration into the circular economy through sustainable scandium recovery from residues, strengthening environmental and social governance and enhancing ASEAN level cooperation to support regional critical mineral resilience. A framework addressing these six parameters is proposed to facilitate the integration of potential scandium sources from industrial waste into Malaysia's energy system.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"112 ","pages":"Article 105810"},"PeriodicalIF":10.2,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145691435","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"From path dependency to path renewal? The reinvention of local economies in rural resource communities in Newfoundland and Labrador through partnerships","authors":"Joshua Barrett","doi":"10.1016/j.resourpol.2025.105816","DOIUrl":"10.1016/j.resourpol.2025.105816","url":null,"abstract":"<div><div>Rural areas are predisposed with rich natural assets which are attractive to resource-based sectors, ranging from renewables, such as fishery to forestry, to non-renewables, including mining and oil and gas. Despite the potential benefit of these sectors to the local economy, rural communities often entrench themselves in a path dependent relationship with these commodities, creating barriers to facilitate economic diversification opportunities, paired with the cyclic nature of the boom-bust cycle. Using Newfoundland and Labrador, Canada, as a case study, this paper highlights ways that rural communities can reinvent their local economies by redefining their path dependency arrangements and experience path renewal. The Towns of Fogo Island, Bonavista, Grand Falls-Windsor, and the Great Northern Peninsula have been effective in utilizing economic development partnerships to help transform governance in their communities that has helped break path dependency. These findings have potential to assist resource-dependent communities in their rural economic development activities.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"112 ","pages":"Article 105816"},"PeriodicalIF":10.2,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145747130","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A low-cost, high-efficiency method for the extraction and purification of rhenium as ammonium perrhenate from molybdenite roasting dust","authors":"Saeid Narimany ,&nbsp;Mahboubeh Rabbani ,&nbsp;Shahriar Ghamami","doi":"10.1016/j.resourpol.2025.105791","DOIUrl":"10.1016/j.resourpol.2025.105791","url":null,"abstract":"<div><div>Rhenium is one of the rarest and most strategically significant transition metals, classified among critical minerals due to its indispensable role in aerospace, defense, and energy technologies. Its exceptional high-temperature stability makes it essential in nickel-based superalloys for jet engines and in platinum–rhenium catalysts for clean fuel production. However, the scarcity of primary deposits and concentration of supply in a few countries expose global industries to geopolitical and supply chain risks. This study presents a low-cost, high-efficiency process for extracting and purifying rhenium as ammonium perrhenate from molybdenite roasting dust, using locally available equipment and chemical reagents. The process, tested at both laboratory and industrial scales, achieved high recovery yields while significantly reducing operational costs compared to conventional methods. Beyond the technical achievement, the proposed approach offers strategic value for rhenium-producing countries by enabling domestic value addition, reducing import dependency, and enhancing competitiveness in high-tech and energy sectors. The potential to support national critical mineral strategies highlights the broader policy and market relevance of this work.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"112 ","pages":"Article 105791"},"PeriodicalIF":10.2,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145621928","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Are some minerals more governable? Copper mining materialities and formalization of artisanal and small-scale mining in Peru","authors":"Luis Meléndez ,&nbsp;Sandra McKay","doi":"10.1016/j.resourpol.2025.105813","DOIUrl":"10.1016/j.resourpol.2025.105813","url":null,"abstract":"<div><div>Artisanal and small-scale mining (ASM) is one of the main non-agricultural activities in the developing world, despite its often informal or illegal status. The formalization of ASM has been central in efforts to address the sector's challenges and enhance its potential for rural livelihoods. However, in Latin America, much of the academic and policy focus on ASM has been on gold mining, with standardized approaches to resource governance that overlook the sector's diversity. Such perspectives fail to address the distinct possibilities and constraints of formalization, which often vary depending on the mineral type and geological conditions. Based on extensive ethnographic and qualitative research in northern Peru, this article examines how the materiality of copper-rich mineral extraction has facilitated artisanal miners' progress in the formalization process. Without falling into geological reductionism, we argue that the material and geological properties of copper-rich deposits in some ASM mine sites can catalyze socio-political arrangements and technical transitions aligned with the goals of Peru's formalization policy. In line with this argument, we first show how copper's geological characteristics discourage the use of cyanide and mercury, thereby promoting more environmentally acceptable mining practices. Secondly, we explore how the necessity for deep mining in copper extraction encourages capitalization, technological innovation, and professionalization of mining activities. Finally, we discuss how security and logistical challenges involved in the transportation of large volumes of copper-rich raw minerals incentivize formalization. By focusing on non-gold ASM, this research contributes to a growing body of literature on the factors that influence formalization efforts, underscoring the pivotal role of resource materiality.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"112 ","pages":"Article 105813"},"PeriodicalIF":10.2,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145748421","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}