Economics and Mining: Solutions

Since mining has become an unsustainable industry, governments are providing regulations in order to improve market outcomes. One such regulation was the 1977 Surface Mining Control and Restoration Act, in which the US government requires mining companies to pay bonds that will cover restoration of the mines to their original environmental state to reduce the amount of environmental damage.

            Aside from government regulations, another way of making mining more sustainable is through recycling. Metals found in electronic devices, aluminum cans, and other recyclable materials are reprocessed in order to increase the supply of minerals available for production. Companies have even begun mining in landfills to harvest valuable minerals like coltan from old electronic devices. By recycling old materials, companies are able to minimize the impacts of mining and save money on gaining the resources they need. Apart from the government regulations about restoration, recycling is the most effective way of maintain the current supply of minerals while allowing the economy to grow.

New York Times - Recycling - An article from the New York Times about how Japan has started recycling valuable materials in electronics in order to reduce their environmental impact by mining fewer materials.