The mining sector generates 17% of Latin America’s exports and serves as a crucial engine of economic activity. However, many mining projects are carried out in socioeconomically vulnerable communities, and if these projects fail to meet local expectations around employment and economic benefits, there is a significant potential for conflict. TechnoServe, Anglo American, and the Inter-American Development Bank (IDB and IDB LAB) are collaborating in a regional, tripartite public-private partnership to catalyze locally adapted economic development for communities surrounding Anglo American’s mining operations in Brazil, Chile, and Peru. Taking an ecosystems approach and leveraging opportunities in the mining value chain, Beyond Extraction has worked with national and local governments, the private sector, and civil society to support more inclusive and diversified local economies in these communities through enterprise, workforce, and value-chain development. Over four years, the Beyond Extraction program supported 5,421 jobs, 19% of which were newly created positions.
Learn more about what makes the Beyond Extraction: Economic Opportunities in Mining Communities so innovative in the UVA Darden School of Business’s Ideas to Action article.