Mining Stakeholders Collaborate on a Path to Responsible Development

The global need for a responsible, sustainable, and shared approach to mineral development has come into sharp focus, as disputes and discontent related to mining have increased across the globe. Mining’s value to economic development is increasingly recognized. Yet stakeholders—governments, local communities, and mining companies—approach mining with divided views on the sources, size, and timing of the costs and benefits, according to a new report from the World Economic Forum  in collaboration with The Boston Consulting Group.

The report, Mineral Value Management—A Multidimensional View of Value Creation from Mining, provides insights gained from the Forum’s Responsible Mineral Development Initiative (RMDI). The study introduces a new tool, Mineral Value Management (MVM), designed to enhance mutual understanding of how mining creates value for its diverse array of stakeholders. MVM measures and communicates the often-divergent needs and expectations of those stakeholders.

Creating a better understanding of these differences is the key to establishing trust and constructive collaboration, the report concludes.

The RMDI initiative included a global survey of stakeholders. The survey findings show that the expectations and drivers of value varied widely depending on the stakeholders’ country of origin and its level of economic development.

The original version of the report was published by the World Economic Forum.