Mineral Economies

Mineral economies refer to economies that heavily rely on the extraction and export of minerals and natural resources, such as oil, coal, and metals. In these economies, the mining sector often drives growth, creates jobs, and generates government revenue. However, they can be vulnerable to fluctuations in global commodity prices. Over-reliance on minerals can lead to challenges like economic instability, environmental degradation, and social issues. To promote sustainable growth, mineral-rich countries often seek to diversify their economies and invest in other sectors, such as agriculture and manufacturing, to reduce dependence on minerals.