The license to mine: Making resource wealth work for those who need it most

Abstract

In this concept paper, we will address several critical questions: how can we enhance smart use of precious resources, support environmental sustainability and assist the developing world in their growth process? We put forward a policy framework that can potentially address these three questions and in addition could represent a critical step towards a circular economy eliminating the need for a post-resource discussion.Using precious metals as an example, we present a novel concept that combines policy, business and technological aspects aimed at making efficient use of finite resources and distributing the revenue more evenly. This approach could hence create jobs and eliminate the need of a post-resource discussion for post-industrial economies. Moreover, we will illustrate herein how this approach could be the initial step of the leapfrogging to a post-resource economy with maximized employment. Furthermore, the advance of some emerging technologies, such as block chain and associated smart contracts could be leveraged to track the primary asset being leased.We also note the broader impact on sustainability and economics with the implications of such a model in driving a circular economy, encouraging GDP growth, addressing resource “scarcity” and on the environment.