Mining continues to make a large and growing contribution to emerging economies, delegates attending the annual Investing in African Mining Indaba in Cape Town heard. According to a new report by the International Council on Mining and Metals (ICMM), mining can account for 60-90% of foreign direct investment in low- and middle-income countries and 30-60% of total exports. Taxes and other fiscal revenues from mining typically bring in another 3-20% of a government’s total revenues. According to the report, of the 35 countries most dependent on mining all but Australia and South Korea are developing countries. Of the top 70 a total of 63 are lowincome countries that stand to expand their national economies through the investment, exports, taxes and employment associated with mining.
