Resource curse is a misnomer: achieving resource blessing is the future

STRICTLY Boardroom looks at the ‘resource curse’ in the first of two articles considering the link between mining, economic development and corporate strategy.

Resource curse is a misnomer: achieving resource blessing is the future Resource curse is a misnomer: achieving resource blessing is the future Resource curse is a misnomer: achieving resource blessing is the future Resource curse is a misnomer: achieving resource blessing is the future Resource curse is a misnomer: achieving resource blessing is the future

Most of us in the mining sector will have heard of the ‘resource curse’ – the notion that poor countries, rich in mineral resources struggle to develop economically.1,2,3 However, not only is this notion misleading, but it also perpetuates an image of mining as a basic, primary industry undertaken mainly in the ‘Third World’, with no place in a sophisticated, modern, or even futuristic economy. This is also not a true representation, and has implications not only for economic development, but for corporate strategy too.

In fact, the very notion of ‘First’ and ‘Third’ world countries as a concept is also misleading nowadays (setting aside the fact that the ‘Second World’ disappeared with the end of t...

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