Minerals and metals are used in almost every sector of the economy, and according to the International Resources Panel’s Global Resources Outlook, material extraction has tripled over the last 50 years, with mining as the most common method of extraction. Small and medium-sized enterprises (SMEs) produce about 80% of the world’s gemstones and 20% of all gold, and the SME sector is estimated to employ ten times more people than the large-scale mining sector globally.
The mining industry often has large impacts on local environments, including loss of biodiversity and water and soil contamination. To address these challenges there has been renewed interest in sustainable mining practices include preserving neighbouring trees and forests (as they absorb excess water to prevent landslides and mine collapses), using non-toxic chemicals, and ensuring any waste created does not result in water or soil contamination. Initiatives such as the Alliance for Responsible Mining have been established to assist SMEs in the mining sector with implementing sustainable practices and obtaining certification.