Towards iron ore mining sustainability and low-carbon transformation: Policies and implications

Abstract

From 1995 to 2021, this study investigates the influence of Triple Bottom Line (TBL) factors on the efficiency of iron ore mining across 17 East Asia and Pacific countries. The findings strongly affirm the positive impact of the Human Development Index (HDI), revealing a 0.39 % short-term and 0.51 % long-term enhancement for each 1 % increase in HDI. CO2 emissions negatively affect efficiency, while income level dynamics demonstrate nuanced effects, indicating short-term inefficiencies during rapid economic growth and a long-term positive influence. Green power generation emerges as a positive factor influencing efficiency, highlighting the importance of environmentally sustainable practices. The Consumer Price Index (CPI) exhibits a noticeable adverse impact, suggesting decreased efficiency with a general rise in commodity prices. Practical policy recommendations encompass investments in human development, implementation of carbon reduction policies, diversification of income sources, and promotion of green power generation to encourage efficient and sustainable iron ore mining practices.