McPhail - The Challenge of Mineral Wealth

Mcphail, K., The Challenge of Mineral Wealth: Using Resource Endowments to Foster Sustainable Development in Richards, J. P., Mining, Society and a Sustainable World (eds.) (London: Springer, 2009), p.61

This book Chapter aims to identify the factors that have allowed some countries to avoid the ‘resource curse’ syndrome and to determine steps that can be taken by stakeholders e.g. companies, governments, local communities and aid agencies to enhance the contribution of mining towards poverty reduction. The author describes the initiative of the International Council on Mining and Metals (ICMM) and other stakeholders on the contribution of mining to poverty reduction. A major finding of the initiative is that the key to success were institutional including improvements in governance, legislative reforms and fiscal management. The author further notes the important role of the industry in promoting these outcomes at all levels with the distinct peculiarities of countries put into perspective for enhanced effectiveness.

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