Implementation of Policy Response Packages to Promote Sustainable Management of Natural Resources: Confronting Sustainability in the Mining Sector Role for a Sustainability Fund

The present study offers a detailed analysis of the Sustainability Fund proposal and investigates the answers to the aforementioned questions. Sustainability is basically seen at a local level, and the analysis is directed at sustainability within the mining regions, rather than on a national scale. In this sense, the argumentation underlying imposing taxes on the exploitation of natural resources - which is directed towards paying compensation to the state and towards national sustainability - is different to the Sustainability Fund proposed here which has a more local incentive. The present study analyses the economic, social and environmental sustainability issues related to mining at the national and in greater detail, the local level. The crucial issues that have to be confronted to assure sustainability at the local level include the need for greater diversification of production, the problems related to use of water resources, issues related to biodiversity, as well as the challenges of integrating mining companies into the local community.