Auswahl der wissenschaftlichen Literatur zum Thema „Mineral industries – Ethiopia – Finance“

Purpose The purpose of this paper is to identify the contextual work factors in Ethiopia and to evaluate the relative influence of each of these factors on job satisfaction (JS) of employees. Design/methodology/approach The study draws on a sample of shop floor workers from the leather products manufacturing industry in Ethiopia. Data were collected using a structured survey questionnaire and focus group discussions. After testing scale reliability and validity, multiple linear regression was used for the analysis. Findings The study results suggest that the JS is mainly explained by extrinsic factors. Pay is found to influence overall job satisfaction (OJS) at least four times of other work factors. Training opportunity and ethnic diversity showed unexpected negative relationship with OJS. Originality/value Given the importance of understanding JS in labor-intensive industries, and paucity of research on the topic in Ethiopia, the study provides practical insights and groundwork that can guide practitioners to understand the drivers of JS in the region. Moreover, the study adds to the empirical literature that may yield important insights on organizational behavior for under-researched emerging economies, particularly for the eastern part of Africa, where nations share similar cross-cultural norms, economic and ethnic settings.

Kazakhstan's postcommunist transition is characterized by gradual changes under the conditions of a limited democracy. These changes have embraced extensive price and trade liberalization, and resolutely promoted privatization and the building of market institutions, although structural reforms and the struggle against corruption have made little progress. The country's financial independence was established with the introduction of the tenge in 1993. Transformational recession reached its maximum in 1995, since when only the 1998 Asian and Russian crises have interrupted continuous growth. However, the Kazakh economy is very sensitive to fluctuations in world energy and mineral prices, as the extractive industries, primarily oil and gas, have a crucial role in its development.

The conditions for the transition to sustainable development and new industrial transformation for resource-dependent countries are closely linked. With the increasing volatility of the world market of raw materials and finance, the innovative modernization of the extractive industries, as the basis of the new industrialization of the economy, is experiencing significant difficulties. The article analyzes the problems of transition of the resource-dependent Russian economy to sustainable development, associated with the slowdown of the process of new industrialization in the context of the world market volatility. The authors assessed the new industrialization of the Russian economy following the 5-year period of sanctions imposed by Western countries. The article provides a theoretical review of the concept of the influence of sanctions on transition to sustainable development. The authors concluded that the mineral resources export-oriented strategy of the Russian economy still gives positive results, although the internal structure of the Russian economy has not changed significantly.

Analysis of sectors’ emission effects is crucial for identifying key emission sectors and reducing carbon. Current literature for calculating sectors’ emission effects in China ignore intermediate demand. This might introduce inaccuracy into the analyzed results. To solve this gap, this paper used an alternative input–output method to analyze sectors’ emission effects in China. Firstly, it identifies the key emission sectors and their emission effect characteristics from 2005 to 2017. Then, the reasons for the changes in these sectors’ emission effects are analyzed. Lastly, emission effects were further decomposed so that the driving relationships of emissions among these sectors can be sorted out. The results show that the overall key emission sectors were metal smelting and processing and nonmetal mineral products. The backward-emission-dominant sectors were construction, chemical products, other services (such as finance, health and education), metal products, and so on. The forward-emission-dominant sectors were production and supply of electricity and heat, transportation, storage, postal, and telecommunications services. In 2017, transportation, storage, postal, and telecommunications services’ own final demand emissions and forward emissions accounted for 41.7% and 58.3%, respectively, of this sector’s direct emissions. Moreover, from 2005 to 2017, the main sector emission paths affecting the growth of China’s emissions shifted from manufacturing and construction industries to service industries. Accordingly, strategies for emission reduction, such as substituting pollution inputs, were proposed and analyzed. The research provides an important reference for the Chinese government to adopt appropriate measures to reduce carbon.

The development of Russian economy at the present stage is connected with a number of difficulties hindering its shift from the ineffective raw material export model to the model of sustainable industrial growth. The essential drawback of the raw material export model aimed at extraction and export of mineral resources and import of industrial and consumer goods is a low resistance of economic growth to the impact of different factors, such as the situation on global commodity and finance markets, geo-political and economic circumstances in other countries. In contrast to the raw material export model the foundation of the model of sustainable industrial growth is formed by technologically developed manufacturing industry, the so-called locomotive industries characterized by high labour productivity, which provides a rise in putting out products showing competitiveness both on home and overseas markets. Due to this fact such products will be able to meet a considerable proportion of demand on the part of enterprises and population of the country for industrial goods and consumer goods and at the same time to make up a serious share in the export structure. The article deals with two key groups of mechanisms providing the shift of Russian economy from the ineffective raw material export model to the model of sustainable industrial growth, i.e. finance and non-finance ones. The authors analyzed principle difficulties hindering these mechanisms’ implementation in Russia: inability of non-finance mechanisms to guarantee the rise in quality and competitivenessof home-made goods; disparity of resources’ volume to needs of the national economic system in investment; obvious disproportion in districting funds by types of economic activity; the use of enterprises’ own resources for investment, etc.

The exploration and mining of Nigerian barite are primarily by artisanal and small-scale miners (ASM) whose operations are characterized by poor productivity. As a result, the quantity and quality of barites produced do not satisfy the nation’s oil sector demands and other industries that require the mineral. This situation leads to massive importation of the mineral with negative impact on the country’s drive toward increasing the contribution of solid minerals to the gross domestic product (GDP). This study reviews the existing policies and government interventions on ASM of Nigerian barite; evaluates the operations of ASM through a survey of mines in Nasarawa state, Nigeria; identifies factors that affect sustainability of the sector and proffers solutions to foster sustainability of ASM of barite in the region. The study adopted the 4Is optimization technique (Information gathering, Interpretation, Implication, and Implementation) through personal interactions with the stakeholders at the barite mining sites, and government agencies, regarding policies and interventions specific to ASM of barite. Challenges identified include: weak implementation and enforcement of mining laws; inadequate support from government and development partners; poor access to mining equipment and technology; poor infrastructure (access road, water, electricity); poor pricing of products (marketing challenges); poor remuneration of mine workers; poor mining skills; inadequate formal education; limited awareness on environmental health and safety hazards; fragility and conflict; insufficient information and data on mines and miners; security issues; lack of access to finance; lack of formalization of operations and poor legal framework for operations. The strategies suggested for fostering the sustainability of ASM of barites include: enhanced policy and legislation formulation and implementation, strengthening of institutions, formalization of ASM operations, training of miners, awareness campaign, improvement in environmental and safety of operations, empowerment and support by government and development partners for individual miners and processors and organized groups within the sector (such as Miners Association of Nigeria, Association of Miner and Processors of Barite, AMAPOB). Implementation of these strategies will lead to sustainable operations of the sector and hence improved rural livelihoods, stimulation of entrepreneurship in an environmentally responsible manner, and improvement in the contribution of the mineral sector to the nation’s gross domestic product (GDP), and hence national development.

This paper seeks to explore environmental, social and governance issues arising from investment in special economic zones (SEZs) in the mainland Southeast Asian region through a mixture of thick analytical description and multiple case study approach. All the states studied here have embraced the SEZ approach as it offers rapid economic development without any implications for the political settlement, which is considered beneficial by current administrations. Particular emphasis is placed on environmental, social and governance issues in the region covered and some complex issues that have emerged. It is shown that the situation is complex and continually evolving and that there are limited constraints on the actions of corporations. Consequently, there is an opportunity for investors to set precedents and protocols on a progressive basis. 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Thesis (MDF)--University of Stellenbosch, 2011.
The continent of Africa is often recognised more for its problems and conflicts than for its successes. Blessed with an abundance of natural resources, the continent has also suffered from the ‘resource curse’ with many of its troubles directly linked to resource conflicts. Project-finance provides a unique opportunity for unlocking the continent’s resources by structuring arrangements which can allay investor concerns. This report contributes to the discourse on Africa’s development by unpacking some of the key issues which will enable and fast-track future investment on the continent. The primary purpose of this study was to investigate how subjective risk analysis and decision making affect risk-based lending. Tied to this was the examination of five risk categories and how these influence the decisions of project-finance loan officers. The particular focus of this study was in the mining sector. This study reviewed a comprehensive body of the literature which found that corruption and political risk were of great influence on lenders’ perception of risk. This study also reviewed the cognitive psychology literature in order to understand how decision makers process information cues. A quantitative method was then employed in order to understand how project-finance lenders respond to project-finance risk information cues. The results of the study were that, when considering mining projects in Africa, political and market risk have significant influence on the decisions of lenders. This finding confirms that there remain key issues which must be recognised and addressed if the continent is to generate and sustain long-term wealth.

Elinor Ostrom (2005: 238) assumes that in understanding the make up and behaviour of institutional systems governing natural resources: “Resource users are explicitly thought of as rational egoists who plunder local resources so as to maximise their own short-term benefits. Government officials are implicitly depicted, on the other hand, as seeking, the more general public interest, having the relevant information at hand and the capability of designing optimal policies.” This thesis examines the validity of this assumption through an historical analysis of the deep-level gold mining industry of the Witwatersrand, South Africa. The main focus of the assessment is on the institutions of ownership – that is, the development of mining rights and title legislation between 1886 and 2008. The study looks at the legislations’ transformation and implementation from the perspective of the gold mining industry – made up of the mining finance houses and the Chamber of Mines of South Africa – and that of the state. The transformation of the mining industry’s institutional framework was both a choice by government as well as that of the firms in the mining industry. The theoretical framework is constructed from four areas of economic thought. These include: the neoclassical and Keynesian schools of macroeconomic thought; industrial organisation and its relevance to the relationship between firms and the market; institutional and new institutional economics; and finally property rights. The determinants of policy design and the impact of such design on firms and industry is examined. The development, implementation and use of the aforementioned legislation is examined from two perspectives, namely, that of preserver or exploiter. Throughout the history of this prominent South African industry, the motivation for action from the industry or government has oscillated between the two extremes of preserver or exploiter over the time period examined. The conclusion is drawn on an overall and broad focus of actions – with a strong focus on the most recent developments in mining legislation – post-1992.

A research report submitted to the Faculty of Engineering and the Built Environment, University of the Witwatersrand, Johannesburg, in fulfilment of the requirements for the degree of Master of Science in Engineering
The purpose of this research is to provide a comprehensive understanding of Foreign Direct Investment (FDI) and its impact on the mining sector of a developing economy. The ideology and principles discussed aim to assist economists, investors and governments in understanding the need for FDI and how to set up a viable and conducive framework. The research links development economics to FDI as a means to creating and sustaining economic growth.The results of the analysis indicated that there is a direct relationship between development economics and FDI. Political, social and economic risks pose a direct threat to the levels of FDI that a country attracts. A study performed in this research revealed that the higher the perceived risk level, the lower the investment levels. Africa is a resource rich continent; however it ranks low on the investor attractiveness scale. This is due to authoritative political leaders that control corporate and fiscal regimes, ethnic unrest between local tribes and political warfare that is played out in the media. Despite these drawbacks certain African countries are taking steps to improve their attractiveness. Ethiopia is one of them and was selected as the main case study for this research. A benchmark acid test was performed on the policies implemented by government. The Growth Transformation Plan (GTP) I and II (plans set by the government to transform Ethiopia) were reviewed and analysed for feasibility due to the Ethiopian government setting ambitious growth targets. The results of the analysis reveal that investors were attracted to Ethiopia through policies that safeguarded investors’ interests, geological attractiveness, afforded tax and duty havens and allow for the repatriation of profits. The research also highlights the negative impact that social unrest and political violence had on mining FDI. The research concludes on its findings that government policies play a key role in attracting investment. Monetary and fiscal policies must be set to alleviate poverty and create economic growth through the attraction of foreign investment.
NG (2020)

A research report submitted to the Faculty of Engineering, University of the Witwatersrand, Johannesburg, in partial fulfilment of the requirements for the degree of Master of Science,
In 2004, the Department of Minerals and Energy (DME, predecessor to the current Department of Mineral Resources - DMR) published a guideline to calculate the amount that a mining right holder would require for financial provision at mine closure. This research report reviews the guideline, specifically focussing on the “rules-based approach” for determining the quantum of financial provision. Some authors have recorded the misapplication of this guideline in practice and their research supports a conclusion that the guideline does not provide adequately for the real costs of mine closure. This research report makes a comparison between the DME guideline master rates for mine closure costs and actual tendered prices for those same elements of mine closure in the period from 2009 – 2016. The analysis of the actual tender prices for the various master- and component rates in comparison with the DME guideline rates delivered mixed results. While the actual tender values exceeded the guideline master rates in most cases, there were notable exceptions where the actual tender results lagged the master rates. The data obtained from the actual tender prices for mine rehabilitation projects by a third party suggests that the use of CPI to escalate mine rehabilitation costs was very quickly overtaken in reality by higher annual costs and rate increases for most of the DME guideline master rates that relate to surface mining. It means that the DME guideline master rates were not reflective of actual rehabilitation costs by the time that the use of the DME guideline was superseded by the publication of new regulations by the Department of Environmental Affairs in November 2017. Whilst no perfectly linear and distinct relationship could be deduced, the results broadly support the findings of several authors that the actual costs to rehabilitate a mine are much more than the DME guideline document would lead a mine to provide for. The application of a rules-based approach remains an exercise mired in controversy and with many potential inaccuracies. The new NEMA regulations for financial provision completely negate the need for a guideline and relevant State Departments and mining companies alike are consequently dependant on third parties to prepare closure cost estimates.
E.R. 2019

Earnings in the South African and Zimbabwean mining industries have been severely impacted by these countries' socio-economic and political changes in the last decade. News reports and international research publications consistently rates Zimbabwe as a country with the highest political risks in the world. In South Africa (SA), the initial mining charter requiring 51% Black Economic Empowerment, was leaked to the press in 2002 before promulgation making international investors weary. The currency, the Rand (R) has strengthened from the US$ from R13.85 in 2002 to R 7.17 in 2007, significantly impacting on returns as investors to shift their portfolio to other sectors. The purpose of this research was to explore the implications of country risk and investor sentiment for Impala Platinum's valuation and provide strategy recommendations to improve its market rating whilst sustaining its competitive advantage as a platform for achieving its 2010 vision. In this study, a brief environmental scan of the mining industry was undertaken focusing on the platinum sector as well as a background review of the industry and a five year performance comparison between Impala and Anglo Platinum. It also reviewed corporate strategy literature as it relates to the research problem as well as theoretical models of investor sentiment and decision making processes. The specific research design was primarily exploratory in nature. The Implats valuation conundrum appears to be a phenomenon and the best way to achieve the main research objective was to identify any new ideas, preliminary explore some possible hypothesis and provide strategy recommendations to the board. The research adopted both quantitative and qualitative designs to focus on understanding the values, attitudes and perceptions of investors, which is interpretive and inductive in nature. A holistic case study was the specific vehicle used to conduct the research. The research population was made up of all investors in different regions of the world. Given that the study specifically related to the Implats valuation relative to Amplats, the sampling was tailored to their common investors. Data was collected using a questionnaire; the likert five scale was used to design the questionnaire. The following recommendations were made as a result of the research. Implats should implement measures to build its value chain and attempt to move to a cost quartile not easy to replicate without significant investment and time. In the short term Implats needs to continue improving on its fundamental values whilst crafting a take over defence strategy. It also needs to improve on its investor relations program to robustly communicate its political risk management strategy.
Thesis (MBA)-University of KwaZulu-Natal, 2006.

A research report submitted to the Faculty of Engineering and the Built Environment, University of the Witwatersrand, in partial fulfilment of the requirements for the degree of Master of Science in Engineering Johannesburg 2015
Regardless of the strategic role that mining plays in South Africa‟s economic growth and development, there are perceptions that mining benefits are still enjoyed by a few elite individuals. This is partly due to high expectations from lower level workers in the sector and communities where mining takes place. Failures in the implementation of some of the policies that are social in nature are making people question the wisdom of the current mining legislation, the Mineral and Petroleum Resources Development Act (MPRDA). The main question of this research paper is whether the MPRDA, in its current form, is a suitable mining legislative framework that can usher a better dispensation for all or whether there is a need to overhaul it in order to deliver the desired end results that are expected by the majority of South Africans. It is against this background that this research was undertaken, by studying best practice in other mining jurisdictions and conducting a survey of those involved in the South African mining sector. From the research and surveys, recommendations are proposed on what amendments could be effected on the MPRDA to make the South African mining sector more attractive and simultaneously, meet the citizens‟ expectations.

A thesis submitted to the Faculty of Engineering and the Built Environment, University of the Witwatersrand, Johannesburg, in fulfilment of the requirements for the degree of Doctor of Philosophy. Johannesburg, 2016
The Precious Metals Industry in South Africa is highly-regulated compared with other mining and trading countries in the western world which have either deregulated their precious metals industries, have only partial controls or have never seen the need to regulate gold and platinum-group metals specifically. South Africa has a specific Act of parliament, the Precious Metals Act, 2005 (a modification of Chapter 16 of the Mining Rights Act, 1967), that regulates possession, trading and manufacture of precious metals. Apart from the Russian Federation, no other country in the world regulates gold and platinum-group metals possession, trading and fabrication to the extent still done in South Africa. The requirement for such stringent controls was based on the country’s pre-eminence in the production of gold and platinum over the past fifty years, exchange controls (in the case of gold) and the contribution of gold and platinum-group metals to foreign exchange earnings and to the country’s economy as a whole. However, much has changed in South Africa, in the world and indeed in the precious metals industries domestically and globally and this work is the first attempt to discuss and analyse developments and proposals that are impacting on the regulation of the precious metals industries in South Africa. Of these, the World Gold Council’s Conflict-Free Gold Standard provides a case for industry self- regulation to complement, or substitute for government regulation in future. The hypothesis at the Proposal Stage of this study was that the precious metals industry in South Africa is over-regulated and should be deregulated. In this study, this hypothesis is explored and debated. The Resource Nationalism -motivated proposals, including Producer-Country Price for Platinum, OPEC-type trade bloc for platinum, precious metal exchange and single-channel marketing of platinum, were analysed in this study. It was concluded that these are wanting in terms of cost/benefit or problematic in terms of international agreements and trade and competition laws. iii The Precious Metals Act, 2005 itself was also critically analysed with a view to evaluating what could be regulated better or deregulated in the light of recent developments and proposals. It was found, ironically, that the old problem of illegal mining and trading needs to be brought under control before deregulation of the precious metals industry can begin. Nevertheless, in the run-up to deregulation (in an estimated 10 to 15 years), industry self-regulation, co-regulation (with industry) hallmarking, and a re-examination of how beneficiation is promoted should be considered.

A research report submitted to the Faculty of Science, University of Witwatersrand, Johannesburg in partial fulfilment of the requirements for the degree of Master of Science (Environmental Science). Johannesburg, 2017.
South Africa’s SDFIs have potential to play a critical role in fostering environmental compliance in the mining industry. Their role is particularly important in the small-scale and junior mining sector which is usually shunned by private finance institutions because of high environmental credit risk. Equipped with knowledge and experience of working with clients across different sectors and their potential leadership role in technology transfer, SDFIs can leverage their position in acting as trusted third party environmental regulation enforcers. Financial institutions have long been criticised for showing little interest in environmental impacts of their clients while concentrating on profit maximisation. This study sought to investigate the response by financial institutions to this criticism through evaluating the role of SDFIs in fostering environmental compliance by small-scale and junior mining companies which are generally viewed as having a poor environmental compliance record. Through the twin qualitative research methods of interviews and document analysis, the role of three state-owned development finance institutions in fostering environmental regulation compliance by small-scale mining enterprises in South Africa was evaluated. The study revealed that SDFIs explicitly and implicitly provide a wide range of products and services which help small-scale and junior miners in complying with environmental regulations. The study also found that, while SDFIs are beginning to adopt market-based mechanisms to encourage environmental compliance, they still heavily rely on command and control mechanisms as a way of mitigating environmentally related risks arising from financing mining companies.
LG2018