How does mining affect the economy?

Question

Emilia Alcaraz · Accepted Answer

In short term, it accelerates economic growth. In long term, it causes environmental degradation

Mining offers some jobs. But mines, when they are retired, are nonrenewable sources. Miners are happy as long as they work. When a mining operation ends, they loose their jobs (if mine is a local and limited). Most mining operations degrade environment. Dust, water pollution, air pollution, soil degradation, noise, etc. are examples. This pollution stays there for a long time. There are some old mining operations in Rockies (in the USA) causing water pollution even after their retirement. If one person works as a mining employee for 5 years and he is local to that area, after retirement of that mine he cannot find a job if he wants to stay in his land. Maybe he has to move somewhere. Maybe he will be sick due to the fact that mine workers have elevated health risks such as lung cancer. When one person tries to get all economic benefits and costs, probably costs (environmentally related and health related) are greater than the benefits. In any case, mining provides some economic gain but there are many disadvantages of it.

Ezekiel Allen · Answer

undefined Mining can have both positive and negative effects on the economy. Positively, it can contribute to economic growth by providing employment opportunities, generating revenue through taxes and royalties, and stimulating local economies through increased demand for goods and services. Additionally, mining can attract foreign investment and promote infrastructure development in mining regions. However, mining can also have negative impacts, such as environmental degradation, displacement of communities, and health hazards for workers. Moreover, the reliance on finite resources and fluctuations in commodity prices can make mining-dependent economies vulnerable to economic downturns and resource depletion in the long term.