Mining is first and foremost a source of mineral commodities that all countries find essential for maintaining and improving their standards of living. Mined materials are needed to construct roads and hospitals, to build automobiles and houses, to make computers and satellites, to generate electricity, and to provide the many other goods and services that consumers enjoy.
In addition, mining is economically important to producing regions and countries. It provides employment, dividends, and taxes that pay for hospitals, schools, and public facilities. The mining industry produces a trained workforce and small businesses that can service communities and may initiate related businesses. Mining also yields foreign exchange and accounts for a significant portion of gross domestic product. Mining fosters a number of associated activities, such as manufacturing of mining equipment, provision of engineering and environmental services, and the development of world-class universities in the fields of geology, mining engineering, and metallurgy. The economic opportunities and wealth generated by mining for many producing countries are substantial.
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