The role of mining industry in economy

V.B. Kondratyev

Many developing mineral-rich countries have experienced strong growth for a decade or longer, propelled by a rapid expansion of their mineral exports and a rise in prices of these commodities. This sustained strong economic performance goes against the accepted wisdom that even though the mining sector, like other extractive industries, can generate foreign exchange and fiscal revenues, it contributes little to sustained economic growth and human development. The overall impact of the mining sector was much stronger if there were infrastructure benefits and strong linkages to other industries, especially through domestic procurement. Cooperation between the public and private sectors seemed essential to increasing such linkages.

№1 (131) 2017

Key words: mining sector, economic growth, infrastructure, state and business cooperation

Mining Industry Journal №1 (131) 2017, p.4