Economic Development

    The Economic Development thematic area assesses company efforts to ensure their strategic investments and business activities can catalyse sustained socio-economic development in producing countries – beyond the immediate vicinity of their mine sites. Economic Development indicators measure the extent to which companies consider national development priorities and their potential role in building the capacity of producing countries to supply goods and services for mining operations and cultivate skills and knowledge applicable to other sectors of the economy.

    Average of the best scores achieved collectively by all companies for each one of the indicators under the thematic area

    Average of the scores achieved by each one of the companies under this thematic area

    Commitment (1 indicator)
    Action (5 indicators)
    Effectiveness (1 indicator)

    The 0.00-6.00 scale is the scoring scale used in the assessment.

    Summary of results

    Collectively, the assessed companies demonstrate relatively strong results in Economic Development. Nonetheless, less than half of the companies show any evidence of addressing the key issues of national and supranational development planning and procurement.

    The best results in this thematic area are achieved by Anglo American, which has demonstrated formalised company-wide systems for collaborating with governments on sub-national and national socio-economic development planning, while ArcelorMittal, CODELCO, Evraz, Newmont and Vale are among those with stronger results on issues such as national-level procurement, collaborative R&D, and skills development within mining workforces and wider communities.

    Leading practices in Economic Development include, for example, a professional training programme for underrepresented stakeholder groups from local communities, and a programme to encourage greater representation of national staff in mine-site-level senior management.