The IGF’s flagship policy guidance and assessment tool is the Mining Policy Framework (MPF). The MPF lays out international best practices in six key pillars of mining policy and law: the legal and policy environment; financial benefit optimization; socioeconomic benefit optimization; environmental management; mine closure and post-mining transitions; and artisanal and small-scale mining.
MPF Pillar 3: Socioeconomic Benefit Optimization
Alec Crawford, IGF Associate:
“The third pillar of the Mining Policy Framework is about this question of socioeconomic benefit optimization. It’s about how do you convert the natural capital that a country has into human capital? So is the revenue that’s coming out of the mineral sector being put into things like education and health? Are you able to guarantee the occupational health and safety of the people who are working in the sector? Are jobs being created for local people within the mineral sector? Those are the kinds of things that we would be looking for. Is there local procurement, for example? Local suppliers? Are business opportunities being generated around the mine site? So that’s really a focus of the third pillar, socioeconomic benefit optimization.”