Mineral Value Management – A Multidimensional View of Value Creation from Mining
The World Economic Forum’s Responsible Mineral Development Initiative (RMDI) was established in 2010 to develop a better understanding of the challenges and complexities involved in making mineral development responsible and sustainable, and to identify and pilot potential solutions to address these. Phase I involved worldwide consultation and analysis to identify the key challenges. Phase II, started in 2011, aimed to develop practical responses to these challenges. While no “silver bullet” solution was identified, six building blocks for progress were laid out.
Phase III – the subject of this report – focused on two of the building blocks: a shared understanding of the benefits and costs of mineral development, and collaborative processes for stakeholder engagement, focusing on designing a multistakeholder approach to develop a better understanding of different groups’ needs, expectations and priorities.This is important because disputes are more likely when stakeholders are poorly informed about each other’s perceptions and aspirations in relation to the costs and benefits of mining.