Mining Business Write for Us
Many of the mining problems are long-standing and not only inherent in the activity itself but also in global dynamics. In some cases, they worsen, making them particularly difficult to resolve. However, it is crucial to consider the opportunities available to mitigate them through solid leadership and complementary action by all actors. The report “Closing the Gaps and Accelerating Progress on Responsible Mining” examines critical aspects of the ecosystem, actors, and their interactions relevant to responsible mining, including those in the mining value chain and those with an impact influence on the industry and the global system such as governments, investors, financiers, downstream customers, industry associations, voluntary initiatives, civil society, and trade unions, and if you can send us the ideas and submit the article at contact@businessian.com.
Characteristics of Mining Business
Among the characteristics of mining Business, the following stand out:
- The goods sold have no added value. When you go through a process, its price goes up in other industries. For example, turning them into jewelry increases their price in the case of minerals.
- Many of these business produce raw materials, such as metals and oil. This means they are subject to a fixed price in the international financial markets.
- They are enterprises that, if developed indiscriminately, can destroy specific natural resources.
- These businesses have existed since the beginning of civilization; the methods used to be those that were developed to increase productivity.
- They are highly dependent on environmental conditions. For example, in the case of fishing, it can be affected by changes in sea temperature, which decreases the population of some species.
Why Transparency is Important for Mining Business
The importance of access to meaningful information sharing cannot be overstated. Proactive disclosure of information of public interest can:
- Strengthen the credibility of companies’ commitments and statements;
- Reduce power inequality between companies and stakeholders;
- enable informed engagement and agenda-setting between stakeholders and companies;
- Improve trust between companies and other stakeholders;
- Support industry-wide peer learning.
How to Monitor Changes Towards Responsible Mining Business?
The report concludes by presenting four possible indicators that can be used to monitor significant changes toward responsible mining.
These include:
- ESG-oriented Business models, with responsibility and expertise for ESG issues integrated across all functions and at the top of corporate hierarchies;
- meaningful sharing of data of public interest as a minimum tool to reduce power disparities and information asymmetries in interactions between company and community;
- rights-based approach to harm prevention, information about how harmful impacts are managed and resolved;
- International action on responsible mining between sources and collaboration on developing a global policy instrument on responsible mining.
Sub-Categories of Mining Business
Within the main mining Business, sub-categories can be distinguished.
On the One Hand, in the Case of Fishing, there are Three Types:
Self-consumption: Its goal is to feed a particular group, for example, a small city with a port. Its marketing volumes are small.
Craftsman: Uses small boats and rudimentary tools. Small-scale extractions are done for human consumption.
Industrial: Use large ships and more advanced methods. Part of the catch, some species such as anchovies and sardines, is sold to the fishmeal and fish oil industry.
On the Other Hand, Mining can be Classified Into Two:
Open cast mining: It develops on the surface of the ground. It consists of excavating craters, which allow the removal of all the soil covering the mineral deposit.
Underground Mining: Raw material is extracted underground to the surface by building tunnels and shafts.
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