The mining sector, if carefully managed, presents enormous opportunities for advancing sustainable development, particularly in low-income countries, the International Resource Panel says in its latest report. The Panel calls for an international mineral agency – or a global treaty – to address priorities of transformation and economic diversification, along with concerns about the security of supply.
In Mineral Resource Governance in the 21st Century: Gearing Extractive Industries Towards Sustainable Development, the International Resource Panel says international action is needed to consolidate existing rules and regulations in the mining sector, and to agree on international standards on such things as transparency and codes of conduct.
Extraction of mineral resources has increased markedly in recent decades, and in the past decade at a rate faster than economic growth. In addition, there is a significant long-term challenge of how to meet the mineral resource needs of a growing global population that is expected to reach 8.5 billion by 2030, 9.8 billion by 2050, and 11.2 billion by the end of the century.
Emerging economies, expanding populations, global middle-class growth and increasing urbanization, together with the global transition to clean-carbon energy production and the switch to electric vehicles will further drive demand for minerals and metals.
“Minerals and metals underpin national economies, provide crucial raw materials for industrial activities, and input to almost every sector of the global economy,” the report states, “Extractive resources are going to continue playing a central role in driving the global economy despite moves to decouple economies and towards greater recycling.”
It is suggested that countries adopt a Strategic Plan for the mining sector and other sectors impacted by it. The Plan should be set in the context of sustainable development and could include a mining law that enshrines the principles of consultation, transparency and reporting, as well as explicitly recognizing the rights of local populations.
Original source: UN Environment
Published on 19 February 2019
