Mining and its role in the global economy

This article is dedicated to the role of mining in the economic development of the various regions of the world (countries). This issue is important to the economic future of many countries and may be an important factor in terms of social and economic development, not only in average and poorly developed regional economies, but also for well developed states . The exploitation of natural resources brings with it potential, but it is not a guarantee of rapid economic development. From the perspective of developing economies, it is important not to become completely dependent on foreign investment. On the other hand, the total exclusion of external capital significantly slows the development of the economy. This analysis consists of five parts plus a list of references. The introduction to the article briefly describes the reasons for addressing this subject. The second chapter presents the countries that are characterized by the highest levels of mining production in the world. This chapter also shows the share of natural resources per country in relation to the total value of the Gross Domestic Product (GDP) in the year 2010. The third chapter explains the key factors in creating production value in the mining sector, including foreign investment, domestic investment, exports, foreign exchange, national income, GDP, employment, and wages. The fourth chapter of this article is dedicated to a short presentation of the results achieved with the MCI index (Mining Contribution Index), defined by formula.