Mineral Economics
Group Leader
Professor Philip Maxwell p.maxwell@curtin.edu.au
Current Projects
Minerals and economic development
Mineral sector competitiveness
Statistical considerations of progressive value and risk in mineral exploration
Recent Australian Junior Exploration Floats and their Implications for IPOs
Detailed descriptions of these projects are available at:
http://www.cage.curtin.edu.au/mechanical/research_projects.htm
Analysing mineral markets
This project has focused attention on key forces driving demand and supply for a number of specific minerals. These have included nickel, lithium and phosphate rock. Particular focus has been placed in these studies on longer-term developments in these industries, and to the importance of changing market structures upon key market outcomes.
Minerals and economic development
Studies in this theme area have considered aspects of the resource curse debate, the experience of Chile with the rise of the copper industry after 1990 and the recent influence of mineral development on the economic and performance and social outcomes in a range of African economies.
Mineral sector competitiveness
These studies have reflected particularly on the recent Australian experience in comparison to that of Canada and some of the other major mineral exporting nations. They seek to identify why the Australian mineral industry has been successful and what are the future threats to this.
Statistical considerations of progressive value and risk in mineral exploration
Financial markets recognise maximisation of expected value (E), in an essentially risk-neutral context, as the main corporate financial objective of private enterprise. While this may be valid for large, integrated mining companies most junior and middle-size exploration companies behave in a risk-averse fashion when making decisions about progressively more expensive exploration programs. This research considers a practical methodology for such explorers to optimise the decision whether to progress to the next stage of exploration or to farm out a risky project.
Recent Australian Junior Exploration Floats and their Implications for IPOs
This study considers recent junior exploration floats, listed on the Australian Securities Exchange (ASX) in an effort to understand the strategy and business structure of these companies. Most juniors held insufficient capital reserves to meet operational costs beyond a time frame of two years. Few reach construction or production phases within five years of floating.
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