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Environmental harm from mining emissions is estimated to be worth £2.5 trillion annually According to a new study, greenhouse gas emissions from global mining and resource exploita-
tion cause up to £2.5 trillion ($3 trillion) in damages annually. The world relies on extractive industries to supply it with fossil fuels, metal ores, and mineral resources, but new research found that these businesses have annual environmental costs of up to £4 trillion ($5 trillion). Most of them are a result of acidification, greenhouse gases, and particle pollution, especially from the steel and coal industries.
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ineral resources have been referred to as one of Earth's "great endowments" and as playing a "dominant role" in the economies of numerous nations by UN secretary-general António Guterres. In fact, the analysis shows that, for the majority of nations, the mining industry generates more economic advantages than losses. It also comes to the conclusion that for some weaker nations, such as Afghanistan, Gabon, and Madagascar, the
environmental costs may outweigh the economic benefits. This is consistent with the "resource curse," which refers to connections between mineral extraction and unfavorable outcomes, including inequality and environmental degradation. The authors claim that the data demonstrate the advantages of switching to cleaner energy sources since the extraction of fossil fuels accounts for approximately half of the environmental costs, not including the combustion of the fuels they produce.
26 | SKILLINGS MINING REVIEW August 2022
Calculating Costs While the extraction of natural resources can benefit economies and create jobs, it can also have a negative impact on the environment, biodiversity, and human health. The study team makes an estimate of the proportion between these expenses and the economic benefits that these industries bring. In order to do this, they used datasets from the US and British geological surveys to analyze the global output of 38 basic materials, including coal, iron, and natural gas.
