What are two of the most basic economic issues associated with mineral resource development?
First, a mine usually is not developed where it is convenient to the population. Mines are located where ore deposits are created by geological processes. Nature has seen to it that mineral deposits are unevenly distributed and well hidden. The uneven worldwide distribution of mineral resources means that the minerals industry must be international in scope. Many wars have been fought to acquire minerals. Economic mineral deposits are relatively rare and very challenging to find. Therefore, if we are to continue to make timely discoveries, we must explore in all possible places with the most sophisticated tools at hand. However, even if an economic mineral deposit is found, political considerations may prevent mining.
The second economic issue is that mining deals with a non-renewable resource. Individual mines are discovered, developed, and reclaimed. |
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A particular mine may be active only a few years; but some have been intermittently active for centuries! At some point, however, the resources become exhausted and a new source of mineral resource will need to be found. In one sense, the miner is relentlessly working himself out of a job, whereas the exploration geologist is continually looking for resources that will create jobs.
What direct role does mining play in our economy?
It creates jobs in all areas - from those involving the actual processes of extracting a mineral resource to those in all industries which rely on mineral resources. In addition, mining purchases materials, supplies, and services in support of their activities. Unrealistic and unfair laws and rules imposed by government can restrict this ability. As mining is undertaken, new technological developments advance the state of mining with sophisticated devices, electronic equipment, and instruments that help the miner be more productive while lightening his work.
he common availability of large amounts of material make it cheap to use in other industries. This encourages growth of industries. Without our vast deposits of coal and iron for the manufacture of steel, we would not now be a great industrial nation.
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