Professor Phillip Charles Francis Crowson
BA, MA
Honorary Professor
Member of CEPMLP Global Faculty and External Consultants team
TEACHING
Professor Crowson gives a course on Mineral Resource Policy and Economics. It covers some of the main technical concepts needed to understand the world mineral industry. At the end of the course students should have an appreciation of the way(s) in which economic considerations help shape the development of the international mining industry. They should appreciate the forces, which influence policy formation in both the public and private sectors, of the world mining industry. They should also be able to assess both contemporary and prospective developments in the international mining industry. The main topics covered are:
- Introduction: national importance of mining, structure of the world's mining industry, common law/civil law, ownership.
- What are mineral resources?
- National Importance of Mining
- What is the structure of the industry?
- Who are the participants?
- Patterns of Ownership
- What drives investment?
- Influences on demand for minerals and metals.
- Demand for minerals and mineral products
- The main determinants of demand
- Population, incomes, and consumption
- Demand and Economic Structure
- The Role of Prices and Technology
- Commodities and Specialities
- Factors affecting costs of production and supply.
- Capacity to Supply
- The Role of Inventories
- Influences on Output
- Secondary Materials
- Barriers to Entry
- Definitions of Cost
- Cost Changes over Time
- Mineral and metal markets.
- The Structure of Markets
- Producer Pricing
- Terminal Markets
- Methods of Marketing and Sale
- Integration between mines and processing plants
- The determination of prices.
- Sales Contracts and Mineral Markets
- Price Movements over Time
- Prices and Exchange rates
- Trends in exploration and investment.
- Minerals Exploration
- Influences on Investment
- The local impact of mining, including health & safety, environmental and social effects.
- The local impact of mining
- Environmental issues
- Social Impacts
- Land Use Policy
- Economic policy issues for the mining industry, and the allocation of value added.
- Economic Policy issues for the Mining Industry
- Economic Rent and Mining
- Taxation
- Development Policy
- Sustainable Development
- International Agreements and Organisations