Physical Assessment of the Mineral Capital of a Nation: The Case of an Importing and an Exporting Country
Intensified mineral consumption and reserve depletion means that it is becoming increasingly important for policymakers to account for and manage national mineral capital. Exergy replacement costs (ERC), an indicator based on the second law of thermodynamics, provides a physical value of mineral los...
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| Format: | Article |
| Language: | English |
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MDPI AG
2015-11-01
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| Series: | Resources |
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| Online Access: | http://www.mdpi.com/2079-9276/4/4/857 |
| _version_ | 1811187864404230144 |
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| author | Guiomar Calvo Alicia Valero Luis Gabriel Carmona Kai Whiting |
| author_facet | Guiomar Calvo Alicia Valero Luis Gabriel Carmona Kai Whiting |
| author_sort | Guiomar Calvo |
| collection | DOAJ |
| description | Intensified mineral consumption and reserve depletion means that it is becoming increasingly important for policymakers to account for and manage national mineral capital. Exergy replacement costs (ERC), an indicator based on the second law of thermodynamics, provides a physical value of mineral loss. When only a unit mass analysis is used, the role of scarcer minerals, such as gold, is obscured. ERC can identify those minerals which are most critical and more difficult to re-concentrate. This paper compares the mineral depletion of that of Colombia and Spain for 2011, both in mass and ERC terms. The Colombian mineral balance for that year is predominately based on fossil fuel extraction and exports, whilst Spain produced industrial minerals but relied heavily upon metals and fossil fuel imports. Using exergy replacement costs, an economic analysis was carried out to determine the impact of mineral extraction, in monetary terms, should the cost of re-concentrating such minerals be taken into account. In 2011, the GDP derived from the extractive sectors of either country did not compensate the mineral resource loss, meaning that mineral patrimony is not being properly evaluated. |
| first_indexed | 2024-04-11T14:10:49Z |
| format | Article |
| id | doaj.art-eada0bd2bb754aa9aab4c14e2edfcf0d |
| institution | Directory Open Access Journal |
| issn | 2079-9276 |
| language | English |
| last_indexed | 2024-04-11T14:10:49Z |
| publishDate | 2015-11-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Resources |
| spelling | doaj.art-eada0bd2bb754aa9aab4c14e2edfcf0d2022-12-22T04:19:44ZengMDPI AGResources2079-92762015-11-014485787010.3390/resources4040857resources4040857Physical Assessment of the Mineral Capital of a Nation: The Case of an Importing and an Exporting CountryGuiomar Calvo0Alicia Valero1Luis Gabriel Carmona2Kai Whiting3Research Centre for Energy Resources and Consumption (CIRCE), Mariano Esquillor n.15, Zaragoza 50018, SpainResearch Centre for Energy Resources and Consumption (CIRCE), Mariano Esquillor n.15, Zaragoza 50018, SpainFaculty of Environmental Sciences, Universidad Piloto de Colombia. Carrera 9 No. 45A-44, Bogotá 110231, ColombiaMARETEC, Department of Mechanical Engineering, Instituto Superior Técnico, Universidade de Lisboa, Avenida Rovisco Pais, 1, Lisboa 1049-001, PortugalIntensified mineral consumption and reserve depletion means that it is becoming increasingly important for policymakers to account for and manage national mineral capital. Exergy replacement costs (ERC), an indicator based on the second law of thermodynamics, provides a physical value of mineral loss. When only a unit mass analysis is used, the role of scarcer minerals, such as gold, is obscured. ERC can identify those minerals which are most critical and more difficult to re-concentrate. This paper compares the mineral depletion of that of Colombia and Spain for 2011, both in mass and ERC terms. The Colombian mineral balance for that year is predominately based on fossil fuel extraction and exports, whilst Spain produced industrial minerals but relied heavily upon metals and fossil fuel imports. Using exergy replacement costs, an economic analysis was carried out to determine the impact of mineral extraction, in monetary terms, should the cost of re-concentrating such minerals be taken into account. In 2011, the GDP derived from the extractive sectors of either country did not compensate the mineral resource loss, meaning that mineral patrimony is not being properly evaluated.http://www.mdpi.com/2079-9276/4/4/857exergy analysisexergy replacement costsdomestic material consumptionassessment of mineral tradeforeign dependency |
| spellingShingle | Guiomar Calvo Alicia Valero Luis Gabriel Carmona Kai Whiting Physical Assessment of the Mineral Capital of a Nation: The Case of an Importing and an Exporting Country Resources exergy analysis exergy replacement costs domestic material consumption assessment of mineral trade foreign dependency |
| title | Physical Assessment of the Mineral Capital of a Nation: The Case of an Importing and an Exporting Country |
| title_full | Physical Assessment of the Mineral Capital of a Nation: The Case of an Importing and an Exporting Country |
| title_fullStr | Physical Assessment of the Mineral Capital of a Nation: The Case of an Importing and an Exporting Country |
| title_full_unstemmed | Physical Assessment of the Mineral Capital of a Nation: The Case of an Importing and an Exporting Country |
| title_short | Physical Assessment of the Mineral Capital of a Nation: The Case of an Importing and an Exporting Country |
| title_sort | physical assessment of the mineral capital of a nation the case of an importing and an exporting country |
| topic | exergy analysis exergy replacement costs domestic material consumption assessment of mineral trade foreign dependency |
| url | http://www.mdpi.com/2079-9276/4/4/857 |
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