Treasure or Trouble: Managing Mineral Wealth

This course explores the opportunities and challenges associated with countries’ mineral wealth and extractive industries from a policy perspective. Mineral resources are a large part of our everyday life - the spoon we use, the phone we hold, the tooth that gets filled - but go unnoticed by most of their users and ignored in public debate outside of the mining countries themselves - unless a major disaster happens. Yet, our societal choices – in terms of policies and management practices – matter profoundly for mining countries’ economic, social, and environmental health, as well as in terms of peace, integrity, and institutional stability. As the world is embarking on massive climate-change driven transitions, the mineral intensity of most clean energy technologies has brought renewed attention to the “treasure and trouble” associated with the extractive industries and their related facilities. Students will take a journey through the A-Z of what policymakers and the industry can do – and need to be mindful of – in creating policy options and shaping management approaches for building economic, social, and environmental wealth based on – and perhaps despite – the mineral resources they own and work with.

Throughout the course, students will get to explore and understand the context and rationale for the often-different paths taken by countries and corporates. Using practical examples from around the world, across the 70+ mining countries, the course will cover 12 main topics associated with Mineral Wealth and Extractive Industries: (1) Economic Development, Poverty Reduction, and Revenue Management; (2) Shared Value and Local Social Development and Alliances; (3) Water; (4) Energy; (5) Corruption & Integrity; (6) Labor Relations and Human Rights; (7) Gender Dimensions in Mining Policies and Management Approaches; (8) Mining Companies and their Organizational Challenges; (9) Small-Scale Mining; (10) Mine Closure and Industrial Re-Structuring; (11) ESG Principles and Standards across Countries and Industry Players; (12) Accountability and Complaints Mechanisms. It will include in-person discussions with a senior manager who has for many years led the World Bank’s Mining Practice and possibly with a NGO representative (TBC).