Since 2004, the International Council on Mining and Metal’s (ICMM) ‘Resource Endowment Initiative’ has sought to deepen understanding of ways to enhance mining’s socio-economic contribution and avoid the ‘resource curse’ in mineral-rich countries.
A key conclusion has been that multi-stakeholder partnerships can be a powerful tool in this respect. Working together, companies, governments, development agencies and civil society can help tackle capacity and governance gaps which may limit mining’s development benefits. Such partnerships can also drive progress on issues that companies acting alone may not have the capacity or mandate to address.
‘Mining: Partnerships for Development’ makes explicit ICMM member companies’ commitment to actively support or help develop such partnerships at global, national and community levels.
The initiative – developed with support from Critical Resource – comprises three core elements:
- A commitment by ICMM corporate members to seek partnerships across six priority areas (poverty reduction; revenue management; regional development planning; local content; social investment; dispute resolution).
- A call to other stakeholders – including governments, development agencies and civil society – to collaborate with ICMM members in this respect and to state their support for the initiative.
- Support for the initiative from ICMM, including assisting implementation by members and collating and communicating best practice partnerships. As an initial step ICMM has undertaken a mapping of current partnerships and is also developing a toolkit for implementation which will be published later this year.
For more information please see the ICMM website.