2011年-世界发展银行全球_Overview_of_State_Ownership_in_the_Global_Minerals_Industry___Long_Term_Trends_and_Future_60页_1mb

Summary of State Ownership in the Global Minerals Industry

Core Content

This document provides an overview of state ownership in the global minerals industry, focusing on long-term trends and future implications. It highlights the role of state-owned enterprises (SOEs) in the mining and refining sectors, particularly in emerging economies such as China, Russia, India, and others, and analyzes how these trends affect policy makers, communities, and industry stakeholders.

Main Points

• State Control Trends:
  State control in the global minerals industry has fluctuated over time, but there has been a notable increase in recent years, especially due to the expansion of Chinese state-controlled mining activities.

  • State control in mining varied between 40-60% for most metals until the collapse of the Soviet Union.
  • After the 1990s, state control declined but has since increased again, reaching 24% in 2008.
  • State control in refining is generally higher than in mining due to higher value addition.

• China's Role:

  • China has been a major driver of increased state control in the mining industry, both domestically and abroad.
  • Chinese state-owned enterprises (SOEs) have expanded their presence in global mining, including significant investments in Africa.
  • Despite some growth in private interests, government control over Chinese mining companies remains strong.
  • China dominates the coal sector, with almost complete state control.

• Emerging Economies:

  • In countries like Russia, India, and others in the CIS and Asia, there has been a growing interest in state control of mining as a way to capture more rents from the industry.
  • Some countries in Africa, such as Botswana and Namibia, have formed successful joint ventures with international companies like De Beers, maintaining a significant state share in diamond production.

• Market Economy Countries:

  • Privatization in developed market economies (MECs) has largely been completed, with only a few assets still under state control.
  • There is a renewed interest in state-controlled mining companies in these countries, possibly due to the high metal prices and the need to maximize state revenues.

• Methodology:

  • The study distinguishes between ownership (which is easier to measure) and control (more complex to define).
  • Control is defined as the ability to make strategic decisions, such as appointing or dismissing management, large investments, and policy direction.
  • The study assumes that all mining production in China is under state control, while production in Russia and CIS countries is generally private unless stated otherwise.

Key Information

• State Ownership in Mining:

  • State control for most metals has either increased or remained constant since the 1980s.
  • For example, in 2008, state control for bauxite, gold, zinc, and coal reached up to 100%, while for other metals it ranged between 20-50%.
  • In 2009, state control of gold was at 17.6%, but it increased from 2006 to 2009.
  • For tin, state control reached 54.3%, making it the most controlled metal in the study.

• State Ownership in Refining:

  • State control in refining is generally higher than in mining.
  • For example, state control in aluminum refining was around 75%, while in copper and alumina it was around 50%.

• Country Analysis:

  • In 2008, China had the highest state share in metal mine production at 100%.
  • Chile ranked second with 26% state control, followed by India at 28%.
  • Iran, Poland, and Uzbekistan had 100% state control.
  • Botswana and Namibia were notable for their state control in the diamond sector.

• Political and Economic Factors:

  • The trend toward state control is influenced by strategic importance, the need to control resources, and the desire to maximize state revenues.
  • In the 1960s-1970s, many developing countries nationalized foreign mining companies, hoping to use the industry for socio-economic development.
  • However, many of these state-owned companies faced inefficiencies and poor management, leading to a decline in state control in the 1980s and 1990s.

• Future Outlook:

  • The study suggests that the trend of increasing state control in mining is likely to continue, especially in China and other emerging economies.
  • There is a growing understanding of the long-term nature of mining, leading to more stable policies and strategic approaches to resource management.

Conclusion

The document concludes that while state control in the global minerals industry has decreased since the 1980s, it is still a significant and evolving phenomenon. The rise of Chinese state-owned enterprises and renewed interest in state control in some developed countries indicate that state involvement in the mining sector is not diminishing. The study emphasizes the importance of understanding the dynamics of state control to avoid past mistakes and ensure sustainable development.