This edition of ICMM's 'Mining Contribution Index' synthesises into a single number the significance of the mining sector’s contribution to national economies.
Mineral Resource Governance
Mineral resource governance is key to mining’s contribution to sustainable development by ensuring that citizens receive maximum benefit from the development of these natural resources.
Over the next three year we will increase our contribution to and engagement with the Extractives Industry Transparency Initiative (EITI) and other key partners including the Natural Resources Governance Initiative (NRGI) and the Intergovernmental Forum (IGF) to find opportunities to improve international norms. We will also be providing an institutional home for Committee for Mineral Reserves International Reporting Standard (CRIRSCO) to advance standards of reporting mineral deposit estimates and exploration progress.
Issue at a Glance
- Transforming finite resources into economic growth and social development is best achieved through responsible extraction within effective policy frameworks. With the increasing production of energy transition minerals and metals in jurisdictions more prone to higher levels of corruption and weaker governance structures, ensuring contract transparency and accountability is key for realising the potential of critical resources.
- Transparent and stable tax regimes enhance social and economic opportunities. And open reporting of company taxes helps civil society to hold governments to account for the mining revenues that have been paid to them. ICMM recognises the value of companies providing country-by-country level financial and tax reporting; consequently, members commit to reporting either their GRI 207-4 or OECD BEPS file by 2025.
- Many mining-dependent countries have invested time and effort in pursuit of modern legislative frameworks, but implementation often lags behind. ICMM research suggests that stable countries, with lower levels of corruption and a vocal and active civil society, are better positioned to translate natural resources into social progress.
- Responsible stewards of natural resources accept they have a moral imperative to contribute to social, economic, and institutional development. ICMM’s Mining Principles commit members to applying ethical business practices and sound systems of corporate governance that support sustainable development. This includes the payment and disclosure of tax.
Our Priorities
Collaborate With EITI
Natural resources such as metals and minerals belong to a country’s citizens, and extraction of these resources can lead to economic growth and social development. The Extractive Industries Transparency Initiative (EITI) is dedicated to promoting understanding of natural resource management, strengthening public and corporate governance and accountability, and providing the data to inform policymaking and multi-stakeholder dialogue in the extractive sector. ICMM supports this mission and we are actively working with EITI to support the ongoing development of the initiative’s broader agenda and delivery.
Deepen ICMM’s Engagement With Key Partners
Strong resource governance and, most critically, effective implementation of mining regulations and frameworks, are essential for host countries are realise the potential benefits of mining operations. The mining industry has a central role to play in this as a catalyst for change, supporting effective implementation of the frameworks needed to help deliver the UN SDGs. Towards this end, ICMM is engaging with stakeholders to raise levels of understanding and engagement on mineral resource governance issues. This includes the hosting of an annual roundtable event to connect members with civil society representatives.
Provide an Institutional Home for CRIRSCO
The Committee for Mineral Reserves International Reporting Standard (CRIRSCO) is a volunteer-run international organisation that aims to contribute to the earning and maintaining of the trust of all stakeholders by promoting high standards of reporting of mineral deposit estimates and of exploration progress.
CRIRSCO’s work is important both to society and to ICMM because if companies don’t transparently report their resources and reserves in a standardised matter, stakeholders cannot accurately assess the risks associated with the project, an issue that will likely lead to increased distrust in the mining industry. ICMM is working with CRIRSCO to establish a new institutional home for the organisation, and we are engaging members with its mission.
Convene Tax Experts
Tax is a complex, emotive subject that is increasingly being seen as a sustainability issue. ICMM recognises this and is working to provide a space for member tax experts to share best practice on disclosure, and a platform for members to engage with key policy developments.
Related Resources
ICMM Members’ Tax Contribution Report: 2021 Update
This report contains the corporate income tax (CIT) and royalties paid by ICMM members in the accounting period from June 2013 to June 2021.
Tools for Social Performance
These tools support a greater understanding of what social performance is and the enablers required within organisations to deliver good, consistent social performance.
Social Progress in Mining-Dependent Countries: Analysing the Role of Resource Governance in Delivering the UN Sustainable Development Goals
ICMM research finds that governance is key to determining socio-economic progress in mining-dependent countries.
ICMM Members' Tax Contribution Report: 2020 Update
Detailing the tax and royalties paid by ICMM members over the last eight years.
Role of Mining in National Economies: Mining Contribution Index (5th edition)
This edition of ICMM's Mining Contribution Index synthesises into a single number the significance of the mining sector’s contribution to national economies.
ICMM Members' Tax Contribution Report: 2019 Update
This report shows the amount of tax and royalties that 15 ICMM members paid between 2013-2019 and the effective tax rate over that period.
Role of Mining in National Economies: Mining Contribution Index (4th edition)
This update to ICMM's Mining Contribution Index ranks countries according to the importance of mining to their national economy.
ICMM Members' Tax Contribution: Focusing on Corporate Income Tax and Royalties
This report shows the amount of tax and royalties that 20 ICMM members paid between 2013-2017 and their effective tax rate over that period.
Social Progress in Mining-Dependent Countries: Analysis Through the Lens of the SDGs
This research questions how social development progressed in resource-rich countries in the two decades before the launch of the Sustainable Development Goals.
Role of Mining in National Economies: Mining Contribution Index (3rd edition)
This edition shows the significant contribution of mining and metals to national economies and provides an update to ICMM's Mining Contribution Index.
Role of Mining in National Economies: Mining's Contribution to Sustainable Development (2nd edition)
This edition shows the significant contribution of mining and metals to national economies and provides an update to ICMM's Mining Contribution Index.
Role of Mining in National Economies: Mining's Contribution to Sustainable Development
This report looks at the contribution of mining and metals to national economies.