The social and economic impacts of gold mining

World Gold Council logoWorld Gold Council just published a new report on the social and economic impacts of gold mining. The report examines the wider footprint of gold mining and its implications for growth and development. To obtain the full report, just click: the-social-and-economic-impacts-of-gold-mining. You may also visit World Gold Council.

Key findings

  • Total contribution of over US$171bn to the global economy.
  • Total number of jobs that result from commercial gold mining rises to around 4.2 million globally.
  • In most gold producing countries, over 90% of the industry’s employees are local workers.
  • Over 60% of the countries covered in the report are low or lower-middle income with substantial socio-economic development needs.
  • 70% of the value that gold mining companies distribute within an economy relates to payments to local suppliers and employees.
  • Gold mining’s direct economic contribution to the global economy has increased seven-fold from 2000 to 2013.

World Gold Council infographic_1

DECLINING MINING PRODUCTIVITY – McKinsey report

In research just released, MCKINSEY finds that worldwide mining operations are as much as 28 percent less productive today than a decade ago.The report follows by saying that the pronounced decline in productivity is evident across different commodities and is seen in most mining players and geographies.

Compared with industries such as automotive, which obsessively focus on productivity gains, the numbers seem astonishing. Nevertheless, the decline may be less surprising when we take into account the fact that the industry has just ridden a demand supercycle and has succeeded in expanding production of certain major commodities by 50 percent or more over the past decade.

To obtain the full pdf report, just click here Productivity in mining operations Reversing the downward trend or visit McKinsey’s website.

Safe and sustainable mining with ISO standards

SAFE AND SUSTAINABLE MINING WITH ISO STANDARDS
Mining is a temporary activity, with mines operating from anywhere between a few years and a few decades. Increasingly, however, what happens after a mine is closed, and the impact this has on the local community and environment, has an important influence on the competitiveness of the mining operation.
A new ISO subcommittee on mining reclamation management (ISO/TC 82/SC 7) has recently been created to develop International Standards that can help minimize the potential long-term damage from mining activities.
MINERAÇÃO SEGURA E SUSTENTÁVEL COM NORMAS ISO
A mineração é uma actividade temporária, com períodos que variam, normalmente, de poucos anos a algumas décadas. Aquilo que acontece após o fecho da mina e o impacto que aquela decisão tem nas comunidades e ambiente locais tem, de forma crescente, um grand impacto na competitividade da operação mineira.
O reconhecimento daquele facto conduziu à criação de um novo subcomité ISO (ISO/TC 82/SC 7) para desenvolver Normas Internacionais que possam ajudar a minimizar o impacto de longo-prazo das actividades mineiras.


Best practices to adopt when a mine closes

Even though mining reclamation management is thoroughly done during operation, it is a general characteristic of mining reclamation that potential damages are observed for a long time after closing mines. And it is usual that a boosted regional economy due to the mining industry declines very rapidly after closing those mines and the region faces cavitations. According to experts:

The mining reclamation management must be supported by government and developers together and the opinions of local residents must be actively reflected in the process.

Government and mine operators must prepare measures for the control and monitoring of the environment, the utilization of closed mines, the activation of the regional economy, and the budget for the project at the time of closing the development.

Government and mine operators must prepare for the local residents, who could potentially be impacted by mine closings, an official communication channel to allow interaction between all stakeholders. For example, public hearings are a proven tool to ensure open communication.

in http://www.iso.org/iso/home/news_index/news_archive/news.htm?refid=Ref1933

DIAMANG: the old times, a new photo gallery

DIAMANG 1960 - Luembe river diversion works
Luembe river diversion works – 1960 (DIAMANG)

Many people and institutions have been involved in the Angolan diamond industry during the last 100 years; places and natural features unknown until then have fallen under the spotlight of the industry. Among those involved, some had a leading role. DIAMANG was the greatest among them; this gallery (in time, a set galleries) honors the Company and the men and women that built it.

Africa Mining Finance Guide by Mining Journal

Africa Mining Finance Guide by Mining Journal

How to finance mining projects in Africa?

“Finance for Africa’s natural resource development, and vital related infrastructure, has been a hot topic for a decade, if not longer.

Now, with a less certain global economic outlook and weaker mining equity and debt markets narrowing the project development pipeline, the spotlight is well and truly on financing options, challenges and trends related to the next wave of African mining developments.”