Waye et al - Sustainable Development and Mining

full all chapter5 chapter6 chapter7 chapter8 chapter9

chapter4 chapter5 chapter6 chapter7 chapter8 chapter9

Transparency and Accountability

Policy, Legal and Contractual Framework

Sector Organization and Institutions

Fiscal Design and Administration

Revenue Management and Distribution

Sustainable Development

Waye, A., et al, Sustainable Development and Mining – An Exploratory Examination of the Roles of Government and Industry in Richards, J. P., Mining, Society and a Sustainable World(eds.) (London: Springer, 2009), p.151.

This book chapter begins with an examination of the common perception that activities in the extractive industries are inconsistent with the objectives of sustainable development. The authors note some of the major issues surrounding sustainability in the context of mineral development, and argue that mining can be sustainable if all the revenues derived from mining are used to promote sustainable objectives at all levels.

The authors examine further the effects of various external fiscal and geopolitical parameters on the willingness of companies to invest in mining activities. They find that investors in the mineral industries consider stability and certainty in tax regimes of host countries more important than actual level of taxation in the making of investment decisions. The authors conclude that as long as there is good regulatory environment, it may be possible to raise taxes to mitigate local mining externalities or the funding of other programs through hypothecated taxes, without seriously damaging investor confidence.

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