Economic impact of world mining

Economic impact of world mining

Mining plays a vital role in the economic development of many countries. The emerging economies
are now major players in the production and availability of key commodities such as copper (70%), bauxite
(40%), iron ore and precious metals. Mining also has a positive impact on the economy of many countries.
Another impact of mining can be measured in terms of employment opportunities and income generation.
Commercial scale mining provides employment and skills transfer to more than 2 million workers. The multiplier
effect increases this benefit by a factor of between 2 and 5. The World Bank Mining Department has carried out
an in-depth study on economic and social impact of mining at the community level in Chile, Peru, Bolivia, Papua
New Guinea and Mali.

 

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