| Abstract: | Abstract. The modern minerals industry is more environmentally responsible and socially aware than at any time in the past, and yet faces increasing challenges to improve its performance in these areas still further. Some of these expectations are reasonable and achievable, but others are unrealistic (e.g., “zero impact”) if real development is to continue. Moreover, because society is the ultimate beneficiary of the industry's products, it should be prepared to pay for the improvements it demands. Currently externalized costs, such as many environmental and social impacts, should be internalized into prices, and higher royalties should be charged on gross revenue to ensure effective capture of value of non‐renewable resources by host countries. Such costs to consumers could be offset by higher recycling value, leasing, or deposit‐return schemes. NGOs have an important role to play in working with industry to convince society to accept such changes. |
