Gold Mining, Sustainability and Profitability: Literature Review

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This is highlighted by an incident reported on by Enviromine (2010) in July of this year. Here, "more than 160 people, including at least 100 children, have died from lead poisoning from artisanal gold mining in Nigeria's northwest Zamfara State. The scale of the disaster has been labelled unprecedented by the U.S. Centre for Disease Control and Prevention (CDC), which was called in by the Nigerian health authorities to help stem the epidemic." (Enviromine, p. 1)

Such incidences are demonstrably connected to a mining industry which uses the frequently lax environmental standards of the developing countries in which it operates in order to exploit local resources. This is often done to the detriment of these local communities. And given the low level of global regulation in this area, gold mining firms are often left to their own devices when shaping CSR policies. This points to the most important element of moving the industry forward, which must descend from greater regulatory oversight and enforcement at the global level.

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Competitiveness:

As the article by Finnie et al. (2008) shows, the implications of Porter's Five Forces to competitiveness within the gold mining industry will be heavily dependent on environmental indicators. The article in question indicates that in such contexts as the U.S., where more consistent regulation makes comparative analysis possible, the economic consequences of environmental degradation are particularly relevant. Here, Finnie et al. indicate that "the Environmental Protection Agency (EPA) Toxic Release Inventory reveals that this sector produces more hazardous waste than any other industrial sector. Although uncommon, environmental expense can exceed hundreds of millions of dollars per development." (p. 3690)

These costs and the manner in which different mining operations and nations manage them can help to paint a more comprehensive picture of the sustainability challenge to the mining industry from within the scope of Porter's Five Forces.

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