Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1002/2016WR019866 |
An index for drought induced financial risk in the mining industry | |
Bonnafous, L.1; Lall, U.1,2; Siegel, J.2 | |
2017-02-01 | |
发表期刊 | WATER RESOURCES RESEARCH
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ISSN | 0043-1397 |
EISSN | 1944-7973 |
出版年 | 2017 |
卷号 | 53期号:2 |
文章类型 | Article |
语种 | 英语 |
国家 | USA |
英文摘要 | Water scarcity has emerged as a potential risk for mining operations. High capital spending for desalination and water conflicts leading to asset stranding have recently occurred. Investors in mining companies are interested in the exposure to such risks across portfolios of mining assets (whether the practical at-site consequences are foregone production, higher OPEX and CAPEX and ensuing lost revenues, or asset-stranding). In this paper, an index of the potential financial exposure of a portfolio is developed and its application is illustrated. Since the likely loss at each mine is hard to estimate a priori, one needs a proxy for potential loss. The index considers drought duration, severity and frequency (defined by a return-level in years) at each mining asset, and provides a measure of financial exposure through weighing of production or Net Asset Value. Changes in human needs are not considered, but are relevant, and could be incorporated if global data on mine and other water use were available at the appropriate resolution. Potential for contemporaneous drought incidence across sites in a portfolio is considered specifically. Through an appropriate choice of drought thresholds, an analyst can customize a scenario to assess potential losses in production value or profits, or whether conflicts could emerge that would lead to stranded assets or capital expenditure to secure alternate water supplies. Global climate data sets that allow a customized development of such an index are identified, and selected mining company portfolios are scored as to the risk associated with one publicly available drought index. |
领域 | 资源环境 |
收录类别 | SCI-E |
WOS记录号 | WOS:000398568800028 |
WOS关键词 | WATER |
WOS类目 | Environmental Sciences ; Limnology ; Water Resources |
WOS研究方向 | Environmental Sciences & Ecology ; Marine & Freshwater Biology ; Water Resources |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/21506 |
专题 | 资源环境科学 |
作者单位 | 1.Columbia Univ, Columbia Water Ctr, New York, NY USA; 2.Columbia Univ, Earth & Environm Engn Dept, New York, NY USA |
推荐引用方式 GB/T 7714 | Bonnafous, L.,Lall, U.,Siegel, J.. An index for drought induced financial risk in the mining industry[J]. WATER RESOURCES RESEARCH,2017,53(2). |
APA | Bonnafous, L.,Lall, U.,&Siegel, J..(2017).An index for drought induced financial risk in the mining industry.WATER RESOURCES RESEARCH,53(2). |
MLA | Bonnafous, L.,et al."An index for drought induced financial risk in the mining industry".WATER RESOURCES RESEARCH 53.2(2017). |
条目包含的文件 | 条目无相关文件。 |
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