Mining and Minerals
The
mining and minerals sector is central to modern life. Literally
millions of products are constructed using a range of more than 90 mined
substances from around the globe. The industry’s vital importance to
economic development is clear, but the supply of metals and minerals is
not without environmental and social costs.
Managing
the immense local impacts of mining operations remains a challenge as
issues such as pollution, corruption and human rights abuse have plagued
the industry. Perhaps the greatest demand relates to meeting the full
cost of mineral commodities, as prices have been steadily declining.
Left behind will be an expensive legacy of abandoned sites that have to
be rehabilitated with no obvious way to meet the bill. Today, companies
are becoming more engaged in sustainable development practices that
contribute to global development while attempting to minimize
environmental repercussions.
The
future of mining must encompass improved government frameworks,
resolution around community conflicts, and management of wealth and
risk. Embedding sustainable development into the mindset of companies
requires linking best practice to financial success, thus tying it to
their bottom line.
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