What Countries Can Do to Maximize the Benefits of Mining for Poverty Reduction
Countries can take various steps to obtain the greatest benefits from mining for poverty reduction. The first step they may take to advance towards this goal is data collection regarding the mining industry and its fiscal, economic, social and environmental impacts. The collection of this information allows governments to work together with mining companies towards the development and improvement in these areas. Attracting private sector investment through appropriate laws and regulations also allows mineral- rich countries to benefit. This should be taken into consideration including important aspects such as land, water use and socio-environmental standards.
Nations are also responsible for the mitigation of environmental, health and sociocultural risks for the population engaged in the mining sector. Proper agreements with mining companies results in creating acceptable good condition for employees while at the same time working on the improvement of education and health in neighboring villages to the mining projects. The key to mitigating these risks is setting and monitoring appropriate standards that are fair to everybody.
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