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 Periodical article |
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| Title: | Supply Determinants of Mining Companies: Evidence for Gold and Other Minerals in South Africa |
| Author: | Mainardi, Stefano |
| Year: | 1999 |
| Periodical: | African Development Review |
| Volume: | 11 |
| Issue: | 1 |
| Period: | June |
| Pages: | 31-53 |
| Language: | English |
| Geographic term: | South Africa |
| Subjects: | market gold mining gold mining Agriculture, Natural Resources and the Environment Economics and Trade Development and Technology |
| External link: | https://onlinelibrary.wiley.com/doi/10.1111/1467-8268.00002/pdf |
| Abstract: | Statistical and econometric analyses of partly pooled cross-mine data over the period 1984-1995, for gold and other major export minerals in South Africa, indicate that microeconomic and geological characteristics appear to provide a general explanation for different responsiveness across gold and other mineral producing companies in South Africa. This is consistent with results on cross-country mine-related data. The characteristics in question include the scale of mining operations, the diversification of the major controlling holding's activities, the relative competitiveness in terms of average working costs, the type of sales arrangements, and producers' expectations of mineral demand. Gold supply by smaller mines seems to be more sensitive to rand price fluctuations of this metal, while apparently less responsive to changes in ore grade. As for the importance of domestic as opposed to international prices for modelling mineral supply, for the nine minerals examined the evidence is mixed, and mineral price variations are not likely to have directly transmitted serious instability to the level of South Africa's domestic economic activity. App., bibliogr., notes, ref., sum. in English and French. |
