The Aspects of Sustainable Development in Mineral Resources Management

Mineral resources provide a high standard of living for modern societies: satisfying electricity demand as well as demand for construction materials and they sustain the basis for industry and technological development. Now, modern societies are facing the challenge ofreversing the trend of the depletion of non-renewable mineral resources and sustainable development is intended to ensure the survivalof human civilization in the face of dwindling non-renewable raw materials (especially energy resources) and also increasing anthropopression and related environmental pollution. The amount of non-renewable mineral resources of the Earth's crust is limited. Underspecific conditions there is a possibility of their regeneration however over a period of several if not more than a dozen generations. Thearticle raises questions how societies can prevent mineral resources crises in future and whether this task is feasible.The article identifies the main aspects of the sustainable development in mining sector in Poland as well as environmental challengesrelated to the new CSR mechanism which are: the creation and implementation of sustainable and responsible business model whichthanks to reformed financial and economic system, will make creating a better future easier, more natural and more cost-effective.The crucial aspects of sustainable development as economic and social conditions, environmental challenges, safety of agglomerationlocated in the area of exploitation of resources or in its neighborhood were also presented in the article. The author highlighted thelegal conditions for the management of deposits and extracted mineral resources as well as work safety and research and developmentactivities in the sector.

The Role of Net Working Capital in the Financing of the Operating Activities of Mining Companies

The paper examines how companies’ net working capital is used to finance their operating activities. Net working capital is a source oflong-term financing (equity and long-term external capital) and is more expensive than financing through short-term sources, henceits rational use has a significant impact on the efficiency of companies’ operations. The computed level of net working capital is usedto calculate ratios enabling companies to control this capital. The ratios indicate the relationship of net working capital to currentassets, to the sum of accounts receivable and short-term investments, to cash and cash equivalents, and sales revenues. Based on thesecalculations of the relationships, an assessment was made of net working capital engagement in the financing of operating activities inmining companies. These companies maintain a high degree of current asset financing through long-term capital. In mining companieswith diverse mining activities, the level of current assets financing through long-term capital is higher than in coal mining companies.This is due to the maintenance of a higher level of inventories of extracted raw materials, the distance of outlets from the place ofextraction and the method of transport used. Based on the ratio of net working capital to cash and cash equivalents, it was found thatsome companies were overly liquid. Cash balances significantly exceed the value of this capital over a period of three to four years. Asurplus of cash over net working capital in the short term cannot be treated as excess liquidity, as it is the due to flexible managementof this capital.

Stochastic Simulation of Production Processes – Selected Issues

The article presents selected issues in the field of stochastic simulation of production process-es. Attention was drawn to the possibilityof including, in this type of models, the risk accompanying the implementation of processes. Probability density functions that can beused to characterize random variables present in the model are presented. The possibility of making mistakes while creat-ing this typeof models was pointed out. Two selected examples of the use of stochastic simulation in the analysis of production processes on theexample of the mining process are presented.

Liquidity Measurement Problems in Mining Companies

The ability to manage liquidity is important in any economic conditions. It assumes unique importance during a downturn and depends on management having reliable information on the company’s liquidity level. Static liquidity ratios do not provide such reliableinformation. Their high values result from high inventory levels of extracted raw materials and is not tantamount to excess liquidity.Additional information is offered by the cash cycle and its constituents – Days Inventory Outstanding, Accounts Receivable Days andAccounts Payable Days. Long cash cycles signal a shorter deferral of settlement of suppliers’ bills and a lower liquidity level. To maintain liquidity, companies must maintain higher cash balances in their accounts. Short cycles, on the other hand, may result from latepayment of invoices, which is reflected in long Accounts Payable Days. Some coal companies have very long Accounts Payable Daysand negative cash conversion cycles. This means that some of their non-current assets are financed out of current liabilities.

A Study of PM 10, PM 2.5 Concentrations in the Atmospheric Air in Kraków, Poland

The air in Kraków is one of the most polluted in Europe. Polish standards for notification and alert levels for PM10 particulate matterare one of the the highest in Europe and exceed the recommendations of the World Health Organization (WHO) for safe daily concentrations by several times. The article presents the results of airborne dust measurements in three districts of Kraków. The study hasshown that the concentration of PM2.5 and PM10 particulate matter exceeded the annual average permissible levels. Empirical measurements of PM2.5 show significantly higher air pollution values than the data notified by stationary monitoring stations installed intwo locations. The high value of Pearson linear correlation coefficient confirms that weather conditions have a significant impact on airquality in Kraków. Wind speed in the autumn and winter seasons has by far the greatest influence on air quality in al. Krasińskiego,in the Ruczaj and Kurdwanów districts. A strong negative correlation was displayed. Manual measurements should be used to verifydata obtained from air monitoring stations. It is to be expected that, in Kraków, air purity will improve due to the implementation ofan anti-smog resolution and subsidies for the replacement of obsolete heating systems with more environmentally friendly solutions.

Level of Accumulated Depreciation of Energy Companies’ Assets

The paper presents the degree of accumulated depreciation of fixed assets in Polish energy companies against the background ofglobal energy companies. The coal-fired energy units used in the Polish energy industry are outdated and require replacement. Inthe course of the energy transformation, they will be replaced with energy from renewable sources, natural gas and nuclear fuel. Thetransformation of the energy sector will allow the achievement of climate and environmental goals. Depreciation charged to expenseis an internal source of financing for processes of restoration of the production capacity. However, the Accounting Act and the IncomeTax Act provide for different methods of calculating depreciation, which means that not all depreciation is tax-deductible and that itdoes not reduce the tax base. Reducing the discrepancies in legal solutions regarding the calculation of depreciation in companies maystimulate the implementation of the processes of energy transformation.

Financing Sources of Exploration Works in the Light of Risk Related to their Activity

The article presents an overview of the determinants of exploration works and the definition of the role of junior mines in those processes. Junior mines, as special purpose vehicles, focus on the stages of exploration and documenting of the deposits, without going into theoperational stage related to the exploitation. Due to their nature, those entities finance their activities with equity capital in the formof share issues on the capital markets, addressing their proprietory securities to investors who accept a high level of risk. The largeststock exchanges on which the exploration companies obtain the required funds have been identified, and the trends that complementcapital raising, concerning the involvement of private equity funds, have been presented.

Strategy in Dispatching Trucks and Shovels with Different Capacity to Increase the Operating Efficiency in Cao Son Surface Coal Mine, Vietnam

In surface mining operations, the operating costs of truck-shovel system constitutes 50-60% ofthe total. Only a little save in the operation costs in this system will bring large profit for the mines. Dueto many investment periods, the capacity of both trucks and shovels in Cao Son surface coal mine isdifferent. This leads to the low efficiency and the difficulty in dispatching strategy for the mine. Thispaper presents the current situation and selection of advanced dispatching strategy for increasing theefficiency trucks and shovels at this surface coal mine. The results show the detailed match factor reflectsthe state of each team of loader and trucks and should be use as the indicator for dispatching decision forthe heterogeneous truck and shovel fleet at Cao Son surface coal mine.

The Impact of Coal Exploitation on Tidal Flat Changes, an Investigation Using Remote Sensing Data in Vietnam

Tidal flat plays a crucial role in socio-economic development and ecological environment.Tidal flats in Ha Long-Cam Pha in Vietnam are impacted by human activities, especially coal miningactivities. Using remote sensing data is able to detect, extract, and monitor the changes of tidal flats andexploited coal mine area with multi-temporal, in various scales, and for a large coverage. This studyaims to investigate the impact of coal mining activities on the changes of tidal flats using remote sensingin Cam Pha, Ha Long, one of the biggest coal basins in Vietnam. Digital Elevation Models (DEMs) oftidal flats constructed by Landsat satellite images acquired in years 1989, 2001, and 2014 are comparedto determine the volume changes. Besides, coal mining activities including coal production, waste rockdump area, and the expansion of open coal mine during the period 1989-2014 are investigated usingcorrespondent Landsat images and the reports from the coal mine companies in the study area. Sedimentsamples in tidal flats are analyzed to determine the origin of the sediments. As the results, organic matterin the tidal flats is dominant with the concentration of 459 g/kg to 607 g/kg, which is evidence for theimpact of coal exploitation on the coastal environment. In addition, the relationship between coal mineactivities and tidal flat variation is well observed in this study.

Improvement of State Institution on Mineral Resources Management and Exploitation in Vietnam

Vietnam's mining industry has a long history with mines distributed throughout the country. Ithas contributed significantly to national economic growth. However, it also causes negative impacts onthe environment, thereby affecting sustainable development and mineral resource management.Therefore, mineral resource management is one of the most critical tasks of state management. The factorsthat directly affect this issue are the institutional system and state management tools by the law. Stateinstitutions are an essential tool to regulate behaviors and establish social orders and disciplines in allfields, including mineral resources management. This article presents the current law on managing andexploiting mineral resources to provide orientations and solutions to improve the state institution on theseactivities in Vietnam. Based on clarifying the theory of state institutions and analyzing the current legaldocument systems in Viet Nam, the paper emphasizes the role of appraisal in improving the quality oflegal documents and perfecting state institutions.