An analysis of the long run comovements between financial system development and mining production in South Africa
- Authors: Ajagbe, Stephen Mayowa
- Date: 2011
- Subjects: Economic development -- South Africa , Econometric models , Mineral industries -- Economic aspects -- South Africa , South Africa -- Economic conditions , South Africa -- Economic policy , Principal components analysis , Cointegration , Stock exchanges -- South Africa , Banks and banking -- South Africa , Foreign exchange rates
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:955 , http://hdl.handle.net/10962/d1002689 , Economic development -- South Africa , Econometric models , Mineral industries -- Economic aspects -- South Africa , South Africa -- Economic conditions , South Africa -- Economic policy , Principal components analysis , Cointegration , Stock exchanges -- South Africa , Banks and banking -- South Africa , Foreign exchange rates
- Description: This study examines the nature of the relationship which exists between mining sector production and development of the financial systems in South Africa. This is particularly important in that the mining sector is considered to be one of the major contributors to the country’s overall economic growth. South Africa is also considered to have a very well developed financial system, to the point where the dominance of one over the other is difficult to identify. Therefore offering insight into the nature of this relationship will assist policy makers in identifying the most effective policies in order to ensure that the developments within the financial systems impact appropriately on the mining sector, and ultimately on the economy. In addition to using the conventional proxies of financial system development, this study utilises the principal component analysis (PCA) to construct an index for the entire financial system. The multivariate cointegration approach as proposed by Johansen (1988) and Johansen and Juselius (1990) was then used to estimate the relationship between the development of the financial systems and the mining sector production for the period 1988-2008. The study reveals mixed results for different measures of financial system development. Those involving the banking system show that a negative relationship exists between total mining production and total credit extended to the private sector, while liquid liabilities has a positive relationship. Similarly, with the stock market system, mixed results are also obtained which reveal a negative relationship between total mining production and stock market capitalisation, while a positive relationship is found with secondary market turnover. Of all the financial system variables, only that of stock market capitalisation was found to be significant. The result with the financial development index reveals that a significant negative relationship exists between financial system development and total mining sector production. Results on the other variables controlled in the estimation show that positive and significant relationships exist between total mining production and both nominal exchange rate and political stability respectively. Increased mining production therefore takes place in periods of appreciating exchange rates, and similarly in the post-apartheid era. On the other hand, negative relationships were found for both trade openness and inflation control variables. The impulse response and variance decomposition analyses showed that total mining production explains the largest amount of shocks within itself. Overall, the study reveals that the mining sector might not have benefited much from the development in the South African financial system.
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- Date Issued: 2011
An ion imprinted polymer for the determination of Ni (II) ions from mine tailing samples
- Authors: Rammika, Modise
- Date: 2011
- Subjects: Imprinted polymers , Metal ions , Polymerization , Mineral industries -- Waste disposal
- Language: English
- Type: Thesis , Masters , MSc
- Identifier: vital:4323 , http://hdl.handle.net/10962/d1004981 , Imprinted polymers , Metal ions , Polymerization , Mineral industries -- Waste disposal
- Description: A Ni(II)-dimethylglyoxime ion imprinted polymer {Ni(II)-DMG IIP} was synthesized by the trapping method using the bulk polymerisation format. The structures of the imprinted and non-imprinted polymer were evaluated by infrared spectroscopy and the morphology was observed by scanning electron microscopy. The Ni(II)-DMG IIP was optimised for pH, mass, time and by the uniform design experimental method for the molar ratios of monomer to crosslinker to porogen and template to ligands as well as keeping these parameters constant and varying the quantities of initiator, 2,2'-azobisisobutyronitrile (AIBN). The optimum pH was 8.5, optimum mass was 50 mg, optimum time was 1 min and the optimum molar ratios of crosslinker to monomer, monomer to template and nickel(II) sulfate hexahydrate (NiSO₄.6H₂O) to 4-vinylpyridine to dimethylglyoxime were found to be 3.3:1.0, 0.6:1.0 and 1.0:0.6:3.6 respectively with 30 mg and 8 mL as the optimum amounts of initiator and porogen respectively. Through this optimisation, recovery of Ni(II) was increased from 98 to 100%. Selectivity of the ion imprinted polymer was evaluated by analysing, using an inductively coupled plasma-optical emission spectrometer, for Ni(II) ions that were spiked with varying concentrations of Co(II), Cu(II), Zn(II), Pd(II), Fe(II), Ca(II), Mg(II), Na(I) and K(I) in aqueous samples. Selectivity studies also confirmed that the ion imprinted polymer had very good selectivity characterised by % RSD of less than 5 %. Co(II) was the only ion found to slightly interfere with the determination of Ni(II). The limits of detection and quantification were found to be 3x10⁻⁴ μg/mL and 9x10⁻⁴ μg/mL respectively. The method was evaluated by a custom solution of ground water certified reference material (SEP-3) and sandy soil reference material (BCR-142R) and the concentrations of Ni(II) obtained were not significantly different to the certified ones. The Ni(II)-DMG IIP was then evaluated in aqueous and soil samples where recoveries of 93 to 100% and 98 to 99% respectively were obtained with enrichment factors ranging from 2 to 18 in aqueous and 27 to 40 in soil samples. Finally, the Ni(II)-DMG IIP was used to analyse mine tailings samples and Ni(II) recovery of 99% was obtained with an enrichment factor of 2.
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- Date Issued: 2011