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How Mining Drives Development

ICMM-Map-Jan-2015
A new International Council on Mining and Metals (ICMM) report provides a detailed picture of how responsible mining contributes to economic development and makes significant, positive contributions in some of the most impoverished regions of the world.

A new International Council on Mining and Metals (ICMM) report provides a detailed picture of how responsible mining contributes to economic development and makes significant, positive contributions in some of the most impoverished regions of the world.

The role of mining in national economies uncovers the scope, scale, impact and potential of the metals mining industry to spur growth and development. ICMM created a composite Mining Contribution Index to rank the world’s 214 economies according to the importance of mining and metals, showing that it is both possible and essential to strengthen the contribution of mining to economic and social development.

Most of the top 70 countries are low-income or emerging economies that stand to expand their national incomes through the investment, exports, taxes and employment associated with mining.

Mining can account for 60–90 percent of foreign direct investment in low- and middle-income countries. This investment from abroad finances much needed infrastructure – water supplies, sewage systems, transportation and communication facilities, hospitals, homes and schools – and delivers the most significant macro-economic impact.

Newmont works with host communities and governments in a collaborative way to ensure that its presence is a catalyst for sustainable socio-economic empowerment that can lead to improved lives. Learn more about Newmont’s work with ICMM and how sustainable development forms a core part of its strategy.

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