Management Of Mineral Resources Research Articles

Strategies for Sustainable Management of Mineral Resources for Koreaʼs Major Battery Producers (LG Energy Solution, Samsung SDI, SK On)

The proliferation of global regulations concerning sustainability and environmental protection poses a significant challenge to maintaining corporate sustainability. Consequently, companies must strategically respond to navigate these regulations in their management plans. The objective of this research was to analyze how Korean companies(LG Energy Solution, Samsung SDI, SK On) are responding to sustainable mining and procurement and how they adopt environmentally friendly practices in their mineral supply chain for battery manufacturing. We also proposed new actions to enhance their management strategies for sustainable mineral resource management. Our observations indicated that companies should implement a long-term performance measurement throughout their mineral supply chain. Additionally, there is an urgent need to develop a more proactive environmental management plan when evaluating suppliers from mineral extraction to utilization, adhering to global guidelines such as OECD regulation. In addition to the widely adopted monitoring of greenhouse gas emissions, priority assessments must be undertaken concerning soil and water pollution, waste management, and biodiversity loss within the supply chain linked with climate change under the nature-positive concept. We recommended the establishment of a recycling system for battery waste(i.e., minerals), which is essential for a resilient battery supply chain.

Integrating FinTech with Industry 4.0 for sustainable mineral resource management: Exploring the interplay of technology, regulation, and economic dynamics

In the field of global geology, the intricate relationship between Earth’s mineral resources and their pivotal role in fostering sustainable human development is a fundamental area of scholarly investigation. This research thoroughly explores the complex dynamics between technological progress, financial innovations, and regulatory structures in the context of sustainable management of mineral resources. Covering the period from 2000 to 2022 and including key international stakeholders in the mineral industry, the study employs a Panel Autoregressive Distributed Lag (ARDL) approach to assess the effects of Industry 4.0 technologies (IND), Financial Technology (FinTech), Regulatory Quality (RQ), Energy Efficiency (EF), and per capita Gross Domestic Product (GDP) on Mineral Resource Capital (MRC). The results reveal a substantial, positive long-term influence of Industry 4.0 on Mineral Resource Capital, underscoring the essential role of technology. Conversely, FinTech exhibits a nuanced association with Mineral Resource Capital, indicating the necessity for its careful incorporation. The analysis highlights the significance of regulatory quality in the sustainable management of resources, while the negative impact of energy efficiency points towards the need for more sustainable industrial practices. Through variance decomposition and impulse response analysis, the study delineates the responsiveness of Mineral Resource Capital to various economic fluctuations, with Granger causality tests offering additional insight into these complex interactions. This investigation contributes significantly to the existing scholarly literature and offers crucial perspectives for policy-makers and industry participants, advocating for a cohesive strategy that effectively harnesses technological and financial innovations to enhance sustainability and economic resilience in the mineral sector.

INDONESIAN GOVERNMENT POLICY PROHIBITS THE EXPORT OF NICKEL ORE IN THE FORM OF RAW MATERIALS

Purpose: The purpose of this research is to critically examine the Indonesian Government's policy of prohibiting the export of nickel ore and its implications from a legal, regulatory, and economic perspective. By conducting a thorough analysis of relevant regulations, including Minister of Energy and Mineral Resources Regulation (Permen ESDM) No. 11 of 2019, this study aims to elucidate the rationale behind the prohibition and assess its impact on Indonesia's economic sovereignty, value addition in the nickel industry, and international trade relations. Additionally, the research seeks to provide recommendations to stakeholders, particularly the Indonesian Government, on navigating the challenges and opportunities associated with the nickel ore export prohibition, with a view toward promoting sustainable economic development and maximizing the benefits derived from the country's mineral resources.   Theoretical framework: This research uses a multidisciplinary theoretical framework to analyze the Indonesian Government's policy of prohibiting nickel ore exports. It uses normative legal theory, constitutional law, administrative law, resource curse theory, export-led growth theory, trade policy analysis, state sovereignty, political economy perspectives, and international relations theory to understand the policy's implications on legal, economic, and political dynamics at domestic and international levels.   Design/Methodology/Approach: This research uses a mixed-methods approach, combining normative legal research with qualitative analysis, to examine the Indonesian Government's policy of prohibiting nickel ore exports. It examines the legal framework, aligns with international norms, and gathers insights from stakeholders through interviews, document analysis, and thematic analysis. The findings are then analyzed to provide a comprehensive understanding of the policy's legal, economic, and socio-political dimensions.   Findings: The Indonesian Government's policy of prohibiting nickel ore exports has led to increased value addition, employment opportunities, and technology transfer. This policy aligns with Indonesia's sovereignty over its natural resources, aligns with international obligations, and enjoys domestic support. The policy has potential long-term implications for sustainable development and strategic positioning, highlighting the need for a holistic approach to resource management and international trade relations. Research, Practical & Social Implication: The research provides a comprehensive analysis of Indonesia's policy of prohibiting nickel ore exports, offering insights for future studies. It also informs comparative studies, policy design, diplomatic engagement, and social implications. The policy's potential for economic development and environmental protection is highlighted, promoting sustainable management of Indonesia's mineral resources.   Originality/Value: This research explores Indonesia's policy prohibiting nickel ore exports, focusing on its economic, legal, and socio-political implications. It uses a multidisciplinary approach, incorporating legal, economic, and political perspectives. The empirical data from stakeholder interviews and document analysis provides valuable insights. The findings have practical implications for policymakers and international actors in resource governance and sustainable development.

Research on Spatiotemporal Heterogeneity of the Impact of Earthquakes on Global Copper Ore Supply Based on Geographically Weighted Regression

The large and super large copper deposits worldwide are mainly distributed in the Pacific Rim and Gondwana metallogenic domains, and they are highly coupled with the spatial location of seismically active zones. Major copper-producing countries such as Chile are located in areas with high seismic activity. Earthquakes often cause copper mines to shut down, copper prices to soar, and even mining disasters, affecting the stable supply of global copper. In order to study the impact of earthquakes on the global copper ore supply, information on resource endowments, production, and earthquake data from the past 30 years are collected. This article mainly analyzes (1) the spatial correlation between earthquakes and copper mine projects, and the spatial characteristics of earthquakes’ impact on copper mine production, using correlation analysis and geographically weighted regression (GWR); (2) the impact of sudden earthquake events on the export volume and price of copper mines from the perspective of time, using the earthquake index constructed based on the magnitude of the earthquake, the depth of the epicenter, and the distance from the copper mine. The results indicate that the regions with high spatial correlation between copper mine projects and earthquakes are mainly located along the Pacific coast of South and North Americas. Earthquakes can lead to an increase in copper prices, but they will fall significantly in the short term. The impact of earthquakes on export volume generally has a delay period of 1–2 months, resulting in a short-term decrease in export volume. This article quantitatively evaluates the impact of earthquake risk on the supply chain from both spatial and temporal dimensions, providing reference for supply chain risk monitoring, risk impact assessment, and prediction. On the basis of the research results of this article, mineral resource management departments can quantitatively evaluate the spatiotemporal impact of natural risks such as earthquakes on the supply chain, adjust management policies in a timely manner, and improve the level of refined management of supply chain risks.

IMPORTANCE OF NATURAL RESOURCE ACCOUNTING IN INDIA : A CASE STUDY ON THE MINERAL AND ENERGY RESOURCES

Natural resource accounting is a crucial framework for evaluating the economic and environmental dimensions of a regions resource utilization. This case study delves into the crucial field of natural resource accounting in India, with a specific focus on the management of mineral and energy resources. The study underscores the fundamental axiom that Measurement of a resource leads to its better management. Through data collection, resource valuation, stock and flow analysis, sustainability assessment, and environmental impact evaluation, the paper reveals insights into the sustainable management of these invaluable assets.Indias burgeoning demand for mineral and energy resources, driven by rapid economic growth, necessitates an informed approach to resource management. Natural resource accounting serves as a key tool in this regard. By quantifying these resources, assessing their value, marketing them and considering their economic, environmental, and social impacts, this study advocates for a more informed decision-making process.The study emphasizes how the data and analysis derived from natural resource accounting facilitate the formulation of effective policies. These policies encompass resource extraction quotas, taxation, conservation measures, and environmental regulations, all of which are vital in ensuring responsible resource management.Furthermore, the study acknowledges the significant environmental repercussions of mineral and energy resource extraction. It underscores the importance of accounting for environmental costs and damages, thereby advancing policies aimed at responsible resource management and environmental conservation.A critical aspect addressed in this case study is the assessment of resource sustainability. Understanding whether resources are being extracted at a rate that is sustainable in the long term is paramount. It also underscores the need for policies that promote sustainable resource management and conservation.Transparency and public awareness are another focal point of the study. The availability of information regarding the status and utilization of mineral and energy resources can lead to more responsible resource management practices and enhanced accountability among stakeholders.Finally, this study emphasizes the economic planning and revenue generation potential of natural resource accounting. By grasping the value and availability of mineral and energy resources, governments can allocate resources for development projects, infrastructure, and social welfare programs more effectively.In conclusion, natural resource accounting is a vital tool for sustainable resource management in India. By quantifying and assessing these resources while considering their economic, environmental, and social implications, the government and stakeholders can make more informed decisions and work towards responsible resource management. The study highlights the potential for responsible management of mineral and energy resources in India, benefiting both the present and future generations while safeguarding its natural heritage.

Institutional Policy Implementation and Uganda’s Mineral Resources Management

Purpose: This study examines the Mediating effect of Institutional Policy Implementation on Uganda’s Mineral Resource Management.
 Materials and Methods: The study uses a cross-sectional design suggested by Bell et al., (2018) to examine Mediating effect of Institutional Policy Implementation on Uganda’s Mineral Resource Management. This design involves data collection at a single point in time to identify patterns between variables. The study population consisted of 39 institutions that are involved in the management of mineral resources in Uganda (Ministry of energy and mineral development, 2022). The study targeted a sample size of 34 institutions, determined using the sample determination table developed by Krejcie and Morgan (1970).
 Findings: The results in this study indicate that Managerial Competence has a direct and significant impact on Uganda’s Mineral Resource Management. This means that competent managers are better equipped to make informed decisions, efficiently allocate resources, and implement best practices in the mining sector. The study also reveals that the relationship between Managerial Competence and Mineral Resource Management outcomes is not entirely independent of external factors.
 Implications to Theory, Practice and Policy: The Institutional Theory, developed by Meyer and Rowan in 1977, provides a theoretical framework to understand how institutions and organizational structures influence behavior and decision-making within organizations and it helped to introduced Institutional policy implementation which acted as a mediator in this relationship, meaning that the effectiveness of policies set by relevant institutions can influence how managerial competence translates into actual outcomes in Uganda’s mining industry. The policy implication in this study is that Uganda’s policy makers should prioritize strengthening institutional capacity utilization through targeted training programs and capacity-building initiatives as this would promote the achievement of sustainable and responsible Mineral Resource Management in the country.

Mass-Balance-Consistent Geological Stock Accounting: A New Approach toward Sustainable Management of Mineral Resources.

Global resource extraction raises concerns about environmental pressures and the security of mineral supply. Strategies to address these concerns depend on robust information on natural resource endowments, and on suitable methods to monitor and model their changes over time. However, current mineral resources and reserves reporting and accounting workflows are poorly suited for addressing mineral depletion or answering questions about the long-term sustainable supply. Our integrative review finds that the lack of a robust theoretical concept and framework for mass-balance (MB)-consistent geological stock accounting hinders systematic industry-government data integration, resource governance, and strategy development. We evaluate the existing literature on geological stock accounting, identify shortcomings of current monitoring of mine production, and outline a conceptual framework for MB-consistent system integration based on material flow analysis (MFA). Our synthesis shows that recent developments in Earth observation, geoinformation management, and sustainability reporting act as catalysts that make MB-consistent geological stock accounting increasingly feasible. We propose first steps for its implementation and anticipate that our perspective as "resource realists" will facilitate the integration of geological and anthropogenic material systems, help secure future mineral supply, and support the global sustainability transition.

International experience in institutional support for geological study and use of subsoil

Relevance. Mineral resource management is key to the mining industry’s contribution to the sustainable development of countries by ensuring that citizens receive maximum benefits from mineral development and extraction. The transformation of scarce resources into economic growth and social development is best achieved through their sustainable extraction and processing within the framework of effective policies set by the government and proper institutional support. On the other hand, ineffective management of mineral development, inflexible institutions and organizations that are not responsive to the needs of society can lead to a huge number of negative consequences. The need for a more in-depth study of the institutional basis that ensures efficient subsoil use determined the choice of the topic of this article. The purpose of the work is to analyze international experience in institutional support for geological study and use of subsoil. Methods. In the process of research, general scientific and special methods of scientific knowledge were used, namely: analysis and synthesis, comparison, systematization, generalization, grouping, abstraction. Results of work and its scope. In the course of the study, the theoretical essence of the concept of “institutional support for subsoil use” was considered. Based on the study of international experience, two types of models for organizing the institutional environment in the field of study and use of natural resources have been identified: active and passive. The article pays detailed attention to the active model, considers its subject composition and highlights its distinctive features. Using the examples of Romania, Sweden and Mexico, the features of the implementation of the active model in practice are analyzed. The results obtained can be used by the country’s government agencies to improve management institutions in the field of subsoil use. Conclusion. The variety of public subsoil management systems used by different countries of the world makes it possible to enrich knowledge in this industry and identify the best practices in the application of methods and mechanisms for managing the institutional support of geological subsoil research with a view to their possible adaptation to use in the Russian Federation.

Calcium Carbonate Precipitation Behavior in the System Ca-Me2+-CO3-H2O (Me2+ = Co, Ni, Cu, Fe): Ion Incorporation, Effect of Temperature and Aging

Crystalline calcium carbonates (CCCs) are among the most widespread minerals on the Earth’s surface and play a crucial role in the global carbon cycle, heavy metal sorption and incorporation. Among the numerous factors that influence the precipitation of CCCs from solution, the most determinant are the presence of additives in the mineral-forming medium, temperature, and crystallization time (aging time). The current work fills the gaps in the study of calcium carbonate crystallization from heavy metal (Me2+ = Co, Ni, Cu Fe)-containing solutions (Me2+/Ca 0.005–1.600) at different temperatures (3 and 23 °C) and aging times (21–158 days). The resulting precipitates were studied using optical and scanning electron microscopy, powder X-ray diffraction and energy-dispersive X-ray spectroscopy. Three crystalline calcium carbonates (synthetic analogues of calcite, aragonite and monohydrocalcite), as well as amorphous carbonate (AC), were found in the resulting precipitates. Temperature and aging time have a considerable effect on the phase composition, morphology and heavy metal content in CCCs. Low temperature (3 °C) and short aging times are generally favorable for the formation of monohydrocalcite and amorphous carbonate, while calcite tends to form at a higher temperature (23 °C) and in long-term experiments. Heavy metals can be incorporated into the calcite/monohydrocalcite crystal lattice in sufficient amounts, while aragonite can host a very small amount of Me2+ (or none). Calcite can concentrate Co (up to ~0.25 atoms per formula unit (apfu)) and Ni/Cu (up to ~0.05 apfu), while its Fe content is very close to the detection limits. Calcite precipitated at a higher Me2+/Ca ratio and temperature (23 °C) contains less Me2+ compared to calcite precipitated at a lower Me2+/Ca ratio and temperature (3 °C). Monohydrocalcite can host up to ~0.1 apfu of Co/Ni/Cu with no detectable preference for Me2+. The amount of Me2+ in monohydrocalcite decreases as aging time or temperature increases. It is worth noting that AC is the main carrier of heavy metals in the system being investigated and it should be considered the main host phase in heavy metal adsorption from aqueous solutions. The results obtained can be used to solve environmental issues and in mineral resource management.

Monitoring Operations and Uganda’s Mineral Resources Management

Purpose: This study investigates the moderating role of Monitoring Operations of Institutional Policy Implementation in Uganda's Mineral Resources Management.
 Methodology: A cross-sectional design has been used in this study to collect data. In order to find the patterns across variables, this strategy entails data gathering at a specific point in time. The study population consists of 39 institutions and 2 ministries; that is Ministry of Energy and Mineral Development and National Environmental Management Authority-(NEMA) and 37 district local governments with mining operations. Districts were chosen in this study based on stratified random selection technique. Ministry of Energy and Mineral Resources and NEMA were picked for this study based on the strata. To guarantee that each group of the institutions have an equitable opportunity to engage in the study, a stratified random sampling technique has been adapted by the study.
 Findings: The results in this study rejects the null hypothesis and accepts alternative hypothesis that Monitoring Operation is a significant moderating effect on Institutional Policy Implementation in Mineral Resource Management. This result implies that at different levels of Monitoring Operations, the effect of Institutional Policy Implementation varies significantly. Particularly, when managers do proper Monitoring Operations, it enhances the effect of Institutional Policy Implementation on Mineral Resource Management.
 Recommendations: The policy implication in this study is that policymakers should enhance Monitoring and Accountability Mechanisms through regular audits and inspections, ensuring compliance with regulations and ethical mining practices. Thus; investing in educational initiatives and awareness programs will raise public awareness of the benefits of sustainable mining practices, empowering local communities to actively engage in decision-making to protect the natural resources.

Regulations pertaining to the management of rock mass mineral resources

Regulations pertaining to the management of rock mass mineral resources

Towards sustainability in mineral resources

Mineral resources, the source of primary metals, play a key role in developing the society. Integrating sustainability in mineral resources management is critical to sustainably sourcing and producing metals and achieving sustainable development goals. This requires foremost a clarification of how mineral resources are consumed in society including both the value chain and the supply chain of the finished metal products. The consumption of mineral resources, as well as the environmental, societal and economic impacts associated with their production, can be assessed by different methodologies including criticality analysis, materials flow analysis, and life cycle assessment, which emphasize different aspects of sustainability. To address sustainability in mineral resources, the discrete activities of mining, processing, manufacturing, distribution, and recycling and reusing will need to be integrated and each should adopt a variety of initiatives.

A new method for the extraction of tailing ponds from very high-resolution remotely sensed images: PSVED

ABSTRACT Automatic extraction of tailing ponds from Very High-Resolution (VHR) remotely sensed images is vital for mineral resource management. This study proposes a Pseudo-Siamese Visual Geometry Group Encoder-Decoder network (PSVED) to achieve high accuracy tailing ponds extraction from VHR images. First, handcrafted feature (HCF) images are calculated from VHR images based on the index calculation algorithm, highlighting the tailing ponds’ signals. Second, considering the information gap between VHR images and HCF images, the Pseudo-Siamese Visual Geometry Group (Pseudo-Siamese VGG) is utilized to extract independent and representative deep semantic features from VHR images and HCF images, respectively. Third, the deep supervision mechanism is attached to handle the optimization problem of gradients vanishing or exploding. A self-made tailing ponds extraction dataset (TPSet) produced with the Gaofen-6 images of part of Hebei province, China, was employed to conduct experiments. The results show that the proposed method achieves the best visual performance and accuracy for tailing ponds extraction in all the tested methods, whereas the running time of the proposed method maintains at the same level as other methods. This study has practical significance in automatically extracting tailing ponds from VHR images which is beneficial to tailing ponds management and monitoring.

Review of mineral resource management in a circular economy infrastructure

Purpose is to substantiate foundations of sustainable management of mineral resources while implementing a circular economy model. Methods. The study has applied following research approaches: synthetic method (unification of the singled out aspects); induction method (analysis of a circular economy features); life cycle assessment (evaluation of the product influence on the environment from the viewpoint of each stage of its life cycle); circular economy toolkit (determination and evaluation of the periodicity of circular economy products and indicators); and circular economy indicator prototype (evaluation of the cyclic product efficiency). Findings. Circular economy is one of the key directions of a sustainable development policy as for conservation and protection of mineral resources; it is aimed at more efficient use and improvement of raw material extraction from industrial waste. Formation of a market infrastructure of the circular economy has been proposed based upon mining sector waste use to process it and reduce as well as to repurpose wasteless production and secondary processing of raw materials. The need has been substantiated to contribute to conservation of mineral resources for their sustainable use on the basis of the development of market infrastructure of a stable economy and mining sector waste use to process it and reduce as well as to repurpose wasteless production and secondary processing of raw materials. Originality. A concept for further development of the circular economy market infrastructure has been specified as a platform of production waste supply/demand to optimize the use and conservation of mineral resources on the principles of sustainable growth. It has been proposed to analyze assessment of business development along the lines of a circular economy while calculating parameters when manufacturing is applying primary mineral resources and industrial waste as a raw material for its further processing. Practical implications. The proposed approach of interaction between economic entities on the basis of a circular economy will provide rational use of mineral resources and contribute to the development of a sector of industrial waste processing. The abovementioned will help terminate decrease in the availability of mineral resources and form new milestones of social development on the principles of environmental friendliness and rationalism in the process of interaction with nature.

Management concepts for the sustainable development of mineral resources

Background. The development and implementation of the life cycle concepts of extracted raw materials seems promising for the sustainable development of mineral resources by a mining company. The practical implementation of such concepts requires a system of theoretical, methodological, analytical, and organizational procedures developed in close collaboration by state officials, researchers, and subsoil users with a particular focus on the responsibility of producers.Aim. To carry out an analysis of the existing theoretical concepts for managing the mineral resource base of mining companies and to assess their implementation prospects. The following objectives were formulated: 1) to analyze the current situation in the field of reproduction of mineral resources; 2) to review the management approaches currently used to reproduce mineral resources; 3) to evaluate the prospects of modern concepts for the management of mineral resources in the mining industry.Materials and methods of research. The authors analyzed the publications of foreign and domestic authors in the field of sustainable development. The complex of studies included an analysis of the theoretical concepts of management of reproduction of the mineral resource base developed to date, grouping of key indicators for assessing the sustainability of a mining enterprise, comparing approaches to management of reproduction of the mineral resource base and others.Results. Specific features of the mechanistic approach to the management of mineral resources, as well as its limitations and drawbacks, were analyzed. Particular attention was paid to a concept of the life cycle of a mining plant. The possibilities and prospects of using a methodology of mineral resource capacity management are described.Conclusions. The transition to modern concepts in the management of mining enterprises can be achieved under the condition of changing the existing orientation to super-profitable gross mining to that balancing social, environmental, and economic considerations.

ICJ Jurisdiction Over the Case of Policy to Stop Nickel Exports: European Union v. Indonesia

The purpose of this paper is to explore the jurisdiction of the International Court of Justice (ICJ) regarding the European Union's legal action against Indonesia in response to Indonesia's policy to halt the export of raw materials derived from nickel ore. The research methodology employed for this paper is normative legal research, relying primarily on legal materials that encompass normative law for data collection. The outcome of this study indicates that Indonesia has implemented a measure to cease the export of raw materials derived from nickel ore, leading to the domestic downstream management of mineral resources within the country. In addition, the purpose of the export stop is the strong desire of the Indonesian government so that all raw materials are managed domestically and can invite investors from abroad to invest in Indonesia. However, the European Union (EU), as one of the enthusiasts and consumers of nickel ore raw materials, objected to the policy issued by Indonesia. The form of objection from the EU is to sue Indonesia to the WTO. The EU objected to the policies issued by the Indonesian government because they could interfere with various policies taken by the EU. The policy is expected that in 2050 the EU will be free from CO2 emissions. Furthermore, the EU argues that the cost of nickel ore, once domestically managed, is anticipated to undergo a significant increase, surpassing the prevailing market price. The author scrutinizes the jurisdictional aspects regulated by the International Court of Justice (ICJ) within this context

Potential of DESIS and PRISMA hyperspectral remote sensing data in rock classification and mineral identification:a case study for Banswara in Rajasthan, India.

Remote sensing datasets and methods are suitable for mapping and managing the natural resources like minerals, clean water, and energy and also govern their sustainability nowadays. Hyperspectral (HS) imaging has immense potential for rock type classification, mineral mapping, and identification. This work demonstrates the potential of feature extraction techniques and unsupervised machine learning methods for the space-borne hyperspectral remote sensing data in characterizing and identifying mineral and classifying rock type in Banswara, Rajasthan, India. Feature extraction techniques can reveal variations within the data, which can help identify geological areas, reduce noise, and check the dimensionality of the data. Singular value decomposition (SVD)-based principal component analysis (PCA), kernel PCA (KPCA), minimum noise fraction (MNF), and independent component analysis (ICA) were tested for lithological mapping using recently launched DLR Earth Sensing Imaging Spectrometer Hyperspectral (DESIS) and PRecursore IperSpettrale della Missione Applicativa (PRISMA) data in order to map geologically significant areas. Unsupervised machine learning methods, such as Iterative Self-Organizing Data Analysis Technique (ISODATA) and K-means, were also employed. Vertex component analysis (VCA) was utilized to check for similarity and identify various spectral features. Our work demonstrates the advantages of using feature extraction algorithms such as PCA and KPCA over MNF and ICA in geological mapping and interpretability. We recommend K-means as the preferred method for lithological classification of hyperspectral remote sensing data. Our work highlights the potential of advanced feature extraction algorithms for mineral mapping using hyperspectral data, providing different ways to identify minerals and ultimately leading to better mineral resource management.

Development of methodology for scenario analysis of investment projects of enterprises of the mineral resource complex

Theoretical and applied aspects of scenario analysis of investment projects of enterprises in the mineral resource sector of the economy are considered, its advantages and disadvantages are analyzed. Taking into account the organizational and economic features of mineral resources management, a number of new modifications of the scenario analysis method, aimed at solving an urgent problem - reducing the information uncertainty in assessing the expected efficiency and risk of investment projects, are proposed. The peculiarity of the proposed new modifications is the use of the interval-probabilistic approach in the implementation of the scenario analysis procedure. This approach is based on a moderately pessimistic system of preferences in obtaining point values of the investment project initial parameters. Fishburn estimates and the hierarchy analysis method were used to reduce subjective uncertainty. The maximum likelihood values in the sense of the maximum a priori probability are used as expected estimates. An additional indicator of risk assessment, which characterizes the probability of the event that the net present value of the project will take a value less than the specified one, is proposed. When analyzing one project, this indicator is more informative than the standard deviation. A statistical hypothesis was tested on the improvement of the validity of investment decisions developed using the modified scenario analysis method compared to the standard method.

FUNDAMENTAL PRINCIPLES OF MINERAL AND COAL RESOURCES MANAGEMENT IN THE REGIONAL AUTONOMY ERA

The management of mineral and coal resources is affected by the shift in the paradigm of regional government administration, which now emphasizes aspects of regional autonomy. Law Number 23, 2014 concerning Regional Government, which genuinely adheres to the maxim of maximal regional autonomy, appears to be incompatible with Law Number 3, 2020 concerning the revision of Law Number 4, 2009 on Mineral and Coal Mining. In practice, this results in a variety of interpretations of the nature and significance of regional autonomy, which ultimately has repercussions for the management of mineral and coal resources. This research aims to investigate the significance and nature of regional autonomy in connection to the management of mineral and coal resources. This is doctrinal legal research and a philosophical approach is applied based on legal principles. The findings are the fundamental principles of managing mineral and coal resources in the future era of regional autonomy focuses on returning to the principle of being a state, which means that the use of mineral and coal resources must be in accordance with the ideals of the state outlined in paragraph 4 of the Preamble of the 1945 Constitution, aspects of environmental harmonization and spatial alignment and the application of the principle of proportionality in regulating government and local government authorities.

Improving mineral resource management by accurate financial management: Studying through artificial intelligence tools

In recent years, with a rise in climate change, the notion of natural resource managementhas received much attention worldwide. The heavy reliance of both developed and developing economies on mineral resource management (MRM) is an important aspect of the debate.Meanwhile, advances in artificial intelligence (AI)-based financial management (FM) have transformed the day-to-day operations and management prospects of ecological resources. The present research examines the relationship between AI-based FMand MRM.The study has been done for the economy of the United States of America (USA) and the time ranges from the year 1980–2020.Firstly, the stationarity of the variables are checked using the Augmented Dickey-Fuller (ADF),Phillips-Perron (PP)and Kwiatkowski–Phillips–Schmidt–Shin (KPSS) tests.The findings reveal that all the variables follow I(1). The BDS testing is employed for checking the non-linearity among the variables under consideration. The results verify the presence of nonlinearity. Then, the non-linear autoregressive distributed lag (NARDL) approach is used to find the asymmetric effect of FM on mineral resource rent(MRR). The findings provide evidence of an asymmetric relationship between FM and MRR. Such that the positive shock of FM is negatively related to MRR while a negative shock is positively related to MRR. Based on findings, the study suggests that the USA economy must redesign its mineral resource strategy to establish AI-based financial systems for improving MRM by assuring worker safety and efficiency in the mining industry, resulting in long-term growth.