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SCIENCES
Energy, Field Directors – Alain Dollet, Pascal Brault Raw Materials and Materials for Energy, Subject Heads – Olivier Vidal and Frédéric Schuster
Mineral Resources Economics 1
Context and Issues
Coordinated by
Florian Fizaine
Xavier Galiègue
First published 2021 in Great Britain and the United States by ISTE Ltd and John Wiley & Sons, Inc.
Apart from any fair dealing for the purposes of research or private study, or criticism or review, as permitted under the Copyright, Designs and Patents Act 1988, this publication may only be reproduced, stored or transmitted, in any form or by any means, with the prior permission in writing of the publishers, or in the case of reprographic reproduction in accordance with the terms and licenses issued by the CLA. Enquiries concerning reproduction outside these terms should be sent to the publishers at the undermentioned address:
ISTE Ltd
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UK
John Wiley & Sons, Inc.
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Hoboken, NJ 07030
USA
© ISTE Ltd 2021
The rights of Florian Fizaine and Xavier Galiègue to be identified as the authors of this work have been asserted by them in accordance with the Copyright, Designs and Patents Act 1988.
Library of Congress Control Number: 2021935806
British Library Cataloguing-in-Publication Data
A CIP record for this book is available from the British Library
ISBN 978-1-78945-024-8
ERC code:
SH1 Individuals, Markets and Organisations
SH1_12 Agricultural economics; energy economics; environmental economics PE10 Earth System Science PE10_10 Mineralogy, petrology, igneous petrology, metamorphic petrology
Introduction
Florian FIZAINE1 and Xavier GALIÈGUE2
1IREGE, Savoie Mont Blanc University, Annecy, France
2LEO, University of Orléans, France
Why did we write a book on the economics of mineral resources? As economists, we would be tempted to say that the absence of a French title on the subject was the motivation for the very existence of the original French edition of this book. Nevertheless, this answer might seem rather sketchy, since there are so many reasons for the creation of this collective work.
To begin with, there are the foundations and knowledge accumulated on the subject over decades by researchers from different disciplines. This knowledge and these representations conveyed through more specialized articles and books convince us of the issues related to the theme. As we will see later, these issues are of various kinds: environmental, social, economic and so on. This knowledge questions us too. Sometimes by its originality, more often by its gravity, it urges us to deepen the field of knowledge to better understand causes, mechanics and consequences and, potentially, to propose levers of action.
Then there are the gaps, shadows and persistent mysteries around the theme. Some of these disappear with the accumulation of work in a discipline and the renewed interest of researchers in understanding what cannot be easily explained. Others – and this is particularly the case for problems associated with our book – are illuminated thanks to the cross-fertilization of several disciplines, with which we are able to fully grasp the intricacies of complex problems, but above all thanks to the interdisciplinary toolbox that can unravel them.
These reasons, although important, are not specific to mineral resources. Therefore, a detour through different time horizons may shed some light on the role of these particular resources for human civilizations. We shall then see in what particular context they come into play.
I.1. Why are mineral resources important?
Observation of the past can provide welcome insights. If we had been able to measure the material footprint of Homo sapiens in the early days, we would probably have been able to see that they relied only very partially on mineral resources, with the possible exception of the manufacture of tools such as flint or the bifaces inherited from their ancestors. History evolved radically with the passage of the Neolithic revolution. The three characteristics of this revolution – sedentarization, the production economy and the adoption of a new form of social organization – are still debated among researchers, particularly with regard to their simultaneity.
However, this “new stone age” (also called Neolithic) was accompanied by a renewal in the consumption of materials because a sedentary lifestyle, agriculture and the development of denser settlements required more resources. The role played by polished stone (like axes) therefore intensified. Pottery, although pre-dating the Neolithic period, also served as a cornerstone for the development of trade. The surpluses generated by agriculture allowed for a first step towards the specialization of tasks and certain types of resources (tools and other rare resources) could then be distributed where they were lacking via a vast network of exchange controlled by the elites, producing an extension of the human frontier (Barbier 2011). Humans thus generated the first profound modification of their environment. Later, technical innovations based on the mastery of extraction and the isolation of new mineral resources marked history, through the Bronze Age (3000 BCE) and then the Iron Age (1200 BCE).
Although the extraction of these mineral resources became more widespread and was, therefore, an integral part of the development of human civilizations, minerals remained a scarce resource. For example, the price of iron in the eponymous era varied at that time between eight times the price of gold and twice that of silver (Virolleaud 1953). In the 17th and 18th centuries, another revolution, that of industry, was born at the same time as the massive extraction of another mineral resource: coal. The civilizations of Europe then moved from agricultural and artisanal societies to industrial
