INVESTORS AND MEDIA Media releases
The International Council on Metals & Mining (ICMM), of which Gold Fields is a leading member, has launched two landmark publications - "The role of mining in national economies" and "Trends in the mining and metals industry".
"Mining has always had a significant impact on national economies but more recently its impact has been more widespread as the industry's performance on sustainable development issues has improved significantly. Clearly though we still have some way to go before our host governments and communities can feel the full benefits of our investments," says Nick Holland, CEO of Gold Fields.
The publications are the fourth and fifth releases in an on-going series focusing on mining's contribution to sustainable development. The series has been commissioned by ICMM to spark a constructive dialogue about the key issues the mining industry faces. It seeks to set out some of the more important benefits, costs, risks and responsibilities related to mining and metals in today's world.
"These publications are intended to stimulate an exchange of ideas leading to the development of innovative ways forward. We hope they will allow the industry and others to more fully examine the contribution of mining and metals to sustainable development," said ICMM President Anthony Hodge.
"Trends in the mining and metals industry" provides a forward looking discussion of trends likely to govern the evolution of the industry over the next decade.
Even with today's uncertain economic outlook, population growth and the speed of urbanization in China and Asian countries has created continuing demand for minerals and metals. At the same time, the centres of mining activity have been moving from developed to developing countries. For example, Latin America accounts for 25% of current production and 28% of mining investments today.
"The role of mining in national economies" examines the contribution of mining activities in 212 countries.
In 2010, the value of global minerals production was four times higher than in 2002. At the same time, there are 40 countries with significant dependence on mineral exports. Thirty of those are low or middle income countries and many have low Human Development Index scores.
This data demonstrates that mining has a significant and growing role to play in economic development in general and poverty reduction in particular. Evidence from ICMM case studies in Chile, Ghana and Brazil illustrates that mining areas have enjoyed stronger poverty reduction and social development performance than non-mining areas.
All five publications in the series are available at http://www.icmm.com.
The International Council on Mining and Metals (ICMM) was established in 2001 to improve sustainable development performance in the mining and metals industry. Today, it brings together 22 mining and metals companies as well as 34 national and regional mining associations and global commodity associations.
ICMM serves as an agent for change and continual improvement. Our vision is one of leading companies working together and with others to strengthen the contribution of mining, minerals and metals to sustainable development.
For more information please contact:
Laura Pocknell, Senior Communications Officer
Phone: +44 (0)20 7467 5595
Mobile: +44 (0)7867 394307
Fax: +44 (0)20 7467 5071
London, UK, October 2012