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Wu Y, Mai C. Dynamic spillover between crude oil, gold, and Chinese stock market sectors -analysis of spillovers during financial crisis data during the last two decades. Heliyon 2024; 10:e30219. [PMID: 38756561 PMCID: PMC11096713 DOI: 10.1016/j.heliyon.2024.e30219] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Download PDF] [Figures] [Journal Information] [Subscribe] [Scholar Register] [Received: 12/17/2023] [Revised: 04/09/2024] [Accepted: 04/22/2024] [Indexed: 05/18/2024] Open
Abstract
The present study investigates the presence of asymmetric return spillovers among crude oil futures, gold futures, and ten Chinese stock sector markets. Time-varying asymmetric spillovers between commodities and the 10 sectors are shown by utilizing the spillover index developed by Diebold and Yilmaz (2012, 2014). Our findings indicate that the industrial and discretionary consumer sectors generate and benefit the most from spillovers. Furthermore, it has been established that the basic materials sector exhibits a net positive impact on spillovers. In contrast, oil futures, gold futures, and other sectors demonstrate a net negative impact as recipients of spillovers. Moreover, the negative return spillovers outweigh the positive return spillovers. Our analysis spans from 2000 to 2023 to include various financial crises. The spillover effects of asymmetry are impacted by various factors, including the global financial crisis (GFC), the European sovereign debt crisis (ESDC), the decline in oil prices, and the outbreak of the COVID-19 pandemic. Including gold and oil in individual equity markets can benefit equity investors. Furthermore, implementing hedging strategies is susceptible to the global financial crisis, economic slowdown, oil price decline, and the recent COVID-19 pandemic. The oil futures exhibit the greatest hedging effectiveness during the COVID-19 spread. The findings indicate that gold exhibits comparable outcomes solely in the presence of positive spillover effects. At the same time, its performance reaches its peak during the recovery phase in the context of negative spillover effects.
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Affiliation(s)
- YingTian Wu
- Digital media of Beijing, YM Hi-Tech Information & Technology Company Ltd, 100079, Beijing, China
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Zhu K, He Y, Feng D, Jiang W, Zhang K. Leaching behavior of copper tailings solidified/stabilized using hydantoin epoxy resin and red clay. JOURNAL OF ENVIRONMENTAL MANAGEMENT 2023; 345:118876. [PMID: 37678018 DOI: 10.1016/j.jenvman.2023.118876] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 03/31/2023] [Revised: 08/02/2023] [Accepted: 08/26/2023] [Indexed: 09/09/2023]
Abstract
Tailings produced by mining engineering and metal smelting industries have become a major challenge to the ecological environment and human health. Environmental compatibility, mechanical stability, and economic feasibility have restricted the treatment and reuse of tailings. A novel solidification/stabilization technology using hydantoin epoxy resin (HER) and red clay for copper tailing treatment was developed, and the leaching behaviors of solidified/stabilized copper tailings were investigated in this paper. The leaching characteristics were analyzed by toxicity characteristic leaching procedure (TCLP) leaching tests. Besides, the influence of red clay content and acid rain on the permeability characteristics and leaching characteristics were investigated based on flexible-wall column tests and microstructure tests. The results showed that the copper tailings solidification/stabilization technology with HER and red clay had excellent performances in toxicity stabilization. The leaching concentration of Cu in TCLP tests and flexible wall column tests remained within the limit specified by the Chinese national standard, and the concentration of Cu decreased significantly with the increase of the red clay content. Moreover, acid rain leaching changed the mineral composition and microstructure of solidified tailings, and the porosity of the samples increased with the dissolution of soluble minerals. Additionally, the hydraulic conductivities decreased slightly with the increase in the pH value of acid rain, and the solidified sample with 5% red clay had the lowest hydraulic conductivity.
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Affiliation(s)
- Kaofei Zhu
- Key Laboratory of Metallogenic Prediction of Nonferrous Metals and Geological Environment Monitoring (Central South University), Ministry of Education, Changsha 410083, PR China; School of Geosciences and Info-Physics, Central South University, Changsha 410083, PR China
| | - Yong He
- Key Laboratory of Metallogenic Prediction of Nonferrous Metals and Geological Environment Monitoring (Central South University), Ministry of Education, Changsha 410083, PR China; School of Geosciences and Info-Physics, Central South University, Changsha 410083, PR China.
| | - Deshan Feng
- Key Laboratory of Metallogenic Prediction of Nonferrous Metals and Geological Environment Monitoring (Central South University), Ministry of Education, Changsha 410083, PR China; School of Geosciences and Info-Physics, Central South University, Changsha 410083, PR China
| | - Wenqiang Jiang
- Key Laboratory of Metallogenic Prediction of Nonferrous Metals and Geological Environment Monitoring (Central South University), Ministry of Education, Changsha 410083, PR China; School of Geosciences and Info-Physics, Central South University, Changsha 410083, PR China
| | - Keneng Zhang
- Key Laboratory of Metallogenic Prediction of Nonferrous Metals and Geological Environment Monitoring (Central South University), Ministry of Education, Changsha 410083, PR China; School of Geosciences and Info-Physics, Central South University, Changsha 410083, PR China
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Chen G, Yao N, Ye Y, Fu F, Hu N, Zhang Z. Study on mechanical properties and damage characteristics of cemented waste rock-tailing backfill. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2023; 30:102181-102197. [PMID: 37659021 DOI: 10.1007/s11356-023-29532-3] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Subscribe] [Scholar Register] [Received: 05/05/2023] [Accepted: 08/22/2023] [Indexed: 09/05/2023]
Abstract
Tailing and waste rock-cemented filling is an effective way to solve the problem solid waste in mines. In this paper, the effects of waste rock content and cement-sand ratio on the properties of tailing-waste rock-cemented filling materials and cemented backfill were analyzed based on the single-factor multi-level experimental design method. The results show that with the increase of waste rock content, the fluidity of the filling slurry increases first and then decreases, the bleeding rate increased gradually, and the compressive strength of the backfill increases first and then decreases. When the waste rock content is 60% and the cement-sand ratio is 1:4, the cemented backfill has higher compressive strength. With the increase of waste rock content, the interface failure area between waste rock particles and cementitious matrix under loading gradually increases, the crack extension is more complex, and the acoustic emission (AE) ringing count is higher. Microstructural analysis showed that the main hydration products in the cemented backfill were calcium silicate hydrated (C-S-H) gels, ettringite (AFt), and calcium hydroxide (Ca(OH)2). Because there is more content of hydration products, the microstructure of the cemented backfill was denser and the compressive strength was higher. Based on the results of uniaxial compression tests, the damage constitutive model of cemented backfill with different waste rock contents and cement-sand ratios was established, which could provide guidance for the design and safety production of phosphate rock filling engineering.
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Affiliation(s)
- Guan Chen
- School of Resources and Environmental Engineering, Wuhan University of Science and Technology, Wuhan, 430081, China
| | - Nan Yao
- School of Resources and Environmental Engineering, Wuhan University of Science and Technology, Wuhan, 430081, China.
| | - Yicheng Ye
- School of Resources and Environmental Engineering, Wuhan University of Science and Technology, Wuhan, 430081, China
- Industrial Safety Engineering Technology Research Center of Hubei Province, Wuhan, 430081, China
| | - Fanghui Fu
- School of Resources and Environmental Engineering, Wuhan University of Science and Technology, Wuhan, 430081, China
| | - Nanyan Hu
- School of Resources and Environmental Engineering, Wuhan University of Science and Technology, Wuhan, 430081, China
| | - Zhen Zhang
- School of Resources and Environmental Engineering, Wuhan University of Science and Technology, Wuhan, 430081, China
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Yu H, Zahidi I, Chow MF. Vegetation as an ecological indicator in assessing environmental restoration in mining areas. iScience 2023; 26:107667. [PMID: 37680487 PMCID: PMC10481345 DOI: 10.1016/j.isci.2023.107667] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Received: 05/12/2023] [Revised: 07/10/2023] [Accepted: 08/16/2023] [Indexed: 09/09/2023] Open
Abstract
As global demand for natural resources escalates, the environmental impact stemming from resource extraction has risen to the forefront of contemporary discussions. This paper probed the potential of using vegetation cover as an ecological barometer to gauge the level of environmental damage and restoration in mining areas: a decline in vegetation cover may signify detrimental impacts from intense mining activities, while an increase may indicate effective local environmental stewardship. Therefore, this paper undertook an assessment and discussion of mining damage and environmental management at China's Ta'ershan Mining Area since 2007, calculating and visualizing FVC (Fractional Vegetation Cover) of the Ta'ershan Mining Area to track changes in vegetation cover between 2007 and 2021. Changes in vegetation cover in the Ta'ershan Mining Area could act as a reflection of both mining-induced damage and subsequent successful environmental management by local authorities, providing a practical way to evaluate ecological effects in resource development.
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Affiliation(s)
- Haoxuan Yu
- Department of Civil Engineering, School of Engineering, Monash University Malaysia, Jalan Lagoon Selatan, 47500 Bandar Sunway, Selangor, Malaysia
| | - Izni Zahidi
- Department of Civil Engineering, School of Engineering, Monash University Malaysia, Jalan Lagoon Selatan, 47500 Bandar Sunway, Selangor, Malaysia
| | - Ming Fai Chow
- Department of Civil Engineering, School of Engineering, Monash University Malaysia, Jalan Lagoon Selatan, 47500 Bandar Sunway, Selangor, Malaysia
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Huang Z, Cao S, Yilmaz E. Microstructure and mechanical behavior of cemented gold/tungsten mine tailings-crushed rock backfill: Effects of rock gradation and content. JOURNAL OF ENVIRONMENTAL MANAGEMENT 2023; 339:117897. [PMID: 37043913 DOI: 10.1016/j.jenvman.2023.117897] [Citation(s) in RCA: 1] [Impact Index Per Article: 1.0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 01/15/2023] [Revised: 03/30/2023] [Accepted: 04/07/2023] [Indexed: 05/03/2023]
Abstract
Without appropriate and responsible waste management in place, the cursory storage of tailings and waste rocks on the surface can cause devastating damage to the planet's ecosystems. To proactively manage or abolish the damage, some techniques such as mine backfill have been already used repeatedly in mines. Microstructure and strength behavior of cementitious tailings-crushed rock backfill (CTCRB) with gold/tungsten tailings and rock contents (e.g., 10%, 20%, 30%, 40%, and 50%) were conducted in this study by using both UCS (unconfined compressive strength) tests (e.g., peak strengths, stress-strain curves, failure modes) and SEM micro-graphs. Key conclusions were shown that: when gradation and content of crushed rock was considered as 1-3 mm and 50% respectively, the UCS value of gold tailings based backfills was 1.02 MPa. In contrast, the UCS value of tungsten mine tailings based backfills was 1.36 MPa when the amount of crushed rock within the filling matrix became 10%. Tungsten tailings based backfills were more sensitive to crushed rock gradation than gold tailings based backfills. CTCRB's stress-strain curvatures were up-concave in the step of pore compaction. With the increase in the content and gradation of crushed rock, tungsten tailings based backfills showed swelling and crushing in complete destruction. Tailings' particle size, crushed rock content and gradation utterly affected the failure modes of CTCRB. Ettringite/CSH gel was found to be the leading hydration materials in the backfill matrix. The micro-cracks within CTCRB specimens were unfavorably correlated with its UCS data. To conclude, this study's main outcomes could give a significant guide for CTCRB's industrial uses.
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Affiliation(s)
- Zhiqiang Huang
- State Key Laboratory of High-Efficient Mining and Safety of Metal Mines of Ministry of Education, University of Science and Technology Beijing, Beijing, 100083, China; School of Civil and Resource Engineering, University of Science and Technology Beijing, Beijing, 100083, China.
| | - Shuai Cao
- State Key Laboratory of High-Efficient Mining and Safety of Metal Mines of Ministry of Education, University of Science and Technology Beijing, Beijing, 100083, China; School of Civil and Resource Engineering, University of Science and Technology Beijing, Beijing, 100083, China.
| | - Erol Yilmaz
- Department of Civil Engineering, Geotechnical Division, Recep Tayyip Erdogan University, Fener, Rize, TR53100, Turkey.
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Yu H, Zahidi I. Environmental hazards posed by mine dust, and monitoring method of mine dust pollution using remote sensing technologies: An overview. THE SCIENCE OF THE TOTAL ENVIRONMENT 2023; 864:161135. [PMID: 36566867 DOI: 10.1016/j.scitotenv.2022.161135] [Citation(s) in RCA: 3] [Impact Index Per Article: 3.0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 11/10/2022] [Revised: 12/15/2022] [Accepted: 12/19/2022] [Indexed: 06/17/2023]
Abstract
The over-exploitation of mineral resources has led to increasingly serious dust pollution in mines, resulting in a series of negative impacts on the environment, mine workers (occupational health) and nearby residents (public health). For the environment, mine dust pollution is considered a major threat on surface vegetation, landscapes, weather conditions and air quality, leading to serious environmental damage such as vegetation reduction and air pollution; for occupational health, mine dust from the mining process is also regarded as a major threat to mine workers' health, leading to occupational diseases such as pneumoconiosis and silicosis; for public health, the pollutants contained in mine dust may pollute surrounding rivers, farmlands and crops, which poses a serious risk to the domestic water and food security of nearby residents who are also susceptible to respiratory diseases from exposure to mine dust. Therefore, the second section of this paper combines literature research, statistical studies, and meta analysis to introduce the public mainly to the severity of mine dust pollution and its hazards to the environment, mine workers (occupational health), and residents (public health), as well as to present an outlook on the management of mine dust pollution. At the same time, in order to propose a method for monitoring mine dust pollution on a regional scale, based on the Dense Dark Vegetation (DDV) algorithm, the third section of this paper analysed the aerosol optical depth (AOD) change in Dexing City of China using the data of 2010, 2014, 2018 and 2021 from the NASA MCD19A2 Dataset to explore the mine dust pollution situation and the progress of pollution treatment in Dexing City from 2010 to 2021. As a discussion article, this paper aims to review the environmental and health risks caused by mine dust pollution, to remind the public to take mine dust pollution seriously, and to propose the use of remote sensing technologies to monitor mine dust pollution, providing suggestions for local governments as well as mines on mine dust monitoring measures.
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Affiliation(s)
- Haoxuan Yu
- Civil Engineering Discipline, School of Engineering, Monash University Malaysia, Bandar Sunway 47500, Malaysia.
| | - Izni Zahidi
- Civil Engineering Discipline, School of Engineering, Monash University Malaysia, Bandar Sunway 47500, Malaysia.
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Chen SM, Yilmaz E, Xiang ZG, Wang YM. Curing conditions effect on pore structure, compressive strength and elastic modulus of cementitious tailings backfills. POWDER TECHNOL 2023. [DOI: 10.1016/j.powtec.2023.118458] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 03/19/2023]
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