Table Of Content

RESOURCES POLICY The international journal of minerals policy and economics Volume contents and author index for Volume 22 (1996) RESOURCES POLICY Res Policy is an international journal devoted to minerals policy and economics, aimed at economists and decision make ,cademia, government and industry. Submissions are invited that analyse issues of public policy, economics and | in the areas of mining, minerals, metals and materials. Topics include, among others, resource availability, exp ind development, production and consumption, markets and price formation, international trade, environmental | and management, taxation, investment and finance. Submissions also are invited on related natural resource topi terest and importance to the minerals community, such as sustainability, natural resources in national income acct and other topics from environmental and energy economics. EDI ASSOCIATE EDITOR-EUROPE BOOK REVIEW EDITOR Dr Roderick Eggert Dr David Humphreys Dr James M Otto Divs mics and Business Senior Economist Institute for Global Resources Policy Col of Mines The RTZ Corporation PLC Division of Economics and Business Goid 3041, USA 6 St James’s Square Colorado School of Mines Tel 3981; fax: 303 273 3416 London SW17 4LD Golden, CO 80401-1887 Ema } mines.colorado.edu UK USA \TIONAL EDITORIAL BOARD Raj Kumar Mark C Roberts Technical Assistance Group School of Business and Engineering and Museum Division Commonwealth Secretariat Administration ail sciences UK Michigan Technological University Houghton, MI USA Gustavo Lagos Escuela de Ingeniera Richard Auty Pontificia Universidad Catolica de Chile Adam Rose Depa Santiago Mineral Economics Department Chile The Pennsylvania State University UR Pennsylvania H H Landsberg USA Banks Resource for the Future ka Institutionen Washington, DC Henry A Simonsen USA The Management Consulting Unit Eskom/Megawatt Park (FGI) Carmine Nappi Johannesburg Ecole des Hautes Etudes Commerciales South Africa iperieure des Montréal Québec Margaret Slade Canada Department of Economics University of British Columbia David Pearce Vancouver BC Director Canada Dr Vitaly 30risovich CSERGE Head Department University College London 1e pecting Institute Jan Stachowicz M UK Silesian Centre of Polish Foundation for Ru Management Promotion Arthur Purcell Poland Kenneth W Ciements Director cT W! esteernntr e Australia ELRonesvs ioruAornngcmeeel netsPa,o lli CcyAM aInnastgietumtee nt Services KEecnojnio mTiack euAncahliy sis and Projections Dept USA The World Bank Washington DC USA istvan [ Marian Radetzki The SNS Energy, Stockholm EMT Sweden; and Mostafa K Tolba University of Lulea Executive Director Economics Department UNEP S-951-87 Lulea Nairobi Sweden Kenya f Agricultural and Resource Bill van Rensburg R Kerry Turner Professor of Geological Sciences School of Environmental Sciences The University of Texas at Austin University of East Anglia Austin, TX Norwich USA UK Michael E Henstock Depa Metallurgy and Fred Roberts K A Viewing Mate Energy and Materials Consultant CERMINCO Unive Yottingham Richmond, North Yorkshire Harare UR UK Zimbabwe Volume contents Volume 22 Number 1/2 March/June 1996 SPECIAL ISSUE: Competitiveness and sustainability in natural resource exploitation Guest editor: Marian Radetzki Papers Editor’s introduction Marian Radetzki Bulk trade and maritime transport costs. The evolution of global markets Nils-Gustav Lundgren The competition between coal and natural gas. The importance of sunk costs A Denny Ellerman Comment Olle Eklund Comment Patrik Sé6derholm The role of product differentiation in the iron ore industry. The case of LKAB Stefan Hellmer Comment Magnus Ericsson Valuing risk and flexibility. A comparison of methods Nathalie Moyen, Margaret Slade and Raman Uppal Comment: new approachs to valuation: a mining company perspective David Humphreys Is there room for environmental self-regulation in the mining sector? O Bomsel, P Bérkey, M Glachant and F Lévéque Comment Mats Nilsson Exhaustible resources and sustainable development. Two different paradigms John E Tilton The European mining industry. What future? Phillip Crowson From competitiveness to competition. The threat of minimills to large national steel companies Robert W Crandall Comment Ake Sander Russian gas and aluminium. Revisiting the outlook for consumption and exports in a post-depression economy Istvan Dobozi Comment Andrew V Moukhin Comment Olivier Bomsel Erratum Volume 22 Number 3 September 1996 Science in a market economy Peter J Cook Project NPV as a portfolio of derivative securities. A discrete time analyis Joseph K Winsen Adjusted coal accounts in China Xuelin Liu Metal use and the world economy Mark C Roberts Economic growth and the demand for construction materials David J Moore, John E Tilton and Deborah J Shields Non-conventional fuel tax credits and the extraction R&D model Carlos A Ulibarri Environment, Incentives and the Common Market edited by Farnk Dietz, Herman Vollebergh and Jan de Vries (Jon Lovett); Investment under Uncertainty Avinash K Dixit and Robert S Pindyck (Graham A Davis) ; Real Options: Managerial Flexibility and Strategy in Resource Allocation Lenos Trigeorgis (Graham A Davis); Through Fortress and Rock: The Story of Gencor 1895-1995 J D F Jones (Richard Goode); A Bibliography of Mineral Law and Policy 1984-1995 compiled by Katherine M Christie (James M Otto); Mining Royalties Between Private Parties Karl J C Harries (James M Otto); Steel in the 21st Century: Competition Forges a New World Order William T Hogan (Germano Mendes de Paula); Mining and Mineral Resource Issues in Asia Pacific (Conference Proceedings) edited by D Denoon, C Ballard, G Banks and P Hancock (John D S Macleod) Volume contents Volume 22 Number 4 December 1996 SPECIAL ISSUE: WESTERN AUSTRALIA New mining and mineral-processing projects in Western Australia: Effects on employment and the macroeconomy Kenneth W Clements, Helal Anammad and Ye Qiang Supporting major new nickel developments: Can Western Australia do it again? Mike Kitney and Philip Maxwell Preface i Kenneth W Clements and Philip Maxwell