Sustainable business strategies development: does the mining industry promote economic growth

Abstract

The global economy has moved in the direction of more sustainable development to achieve future prosperity. Almost all possible industries have gotten in the way of sustainable development, including the extractive or mining sector, traditionally associated with negative environmental and socio-economic impacts. The transition to a green economy is impossible without the use of metals and minerals, so we observe an increasing demand for mining around the world. Can the inevitable damage to the environment be offset by the contribution of the mining industry to sustainable development? - this issue needs a profound analysis. This paper aims to assess the possibility of sustainable business strategy development in the extractive sector and to investigate the impact the mining industry may have on the regional economic development in the framework of SDG-8.