From November 2017 to July 2018, a team from the University of British Columbia undertook a research project to investigate how exploration companies could maximize the benefits of resource development for host nations and affected communities. The study involved Erdene Resource Development Corporation. Erdene is a Canadian mineral exploration company operating in Mongolia. The case study examined ways in which mineral exploration companies could
1. Create and share value by working collaboratively with others to identify and respond to social problems that intersect with business needs; and
2. Integrate local and international sustainable development goals into operational strategies.The term “creating shared value” is defined as an economic strategy that seeks to address macro-economic issues and drive outcomes that benefit business and society simultaneously.
While “creating shared value” can have varied meanings to different people, the core concept provides a useful framework for understanding the potential benefits and impacts during the early mine life cycle.