GoldandDiamondsTheSocialandEnvironmentalImpactsofMiningfortheDiamondRing.docVIP

Gold and Diamonds: The Social and Environmental Impacts of Mining for the Diamond Ring MPA Conference 2007 Katharina Marcin Nicholas Ruder Table of Contents Introduction 2 Life Cycle Assessment 3 Major Environmental Impact Summary 7 Mining Sustainability Initiatives 7 Canadian Policies and Regulations 11 Cases: Leaders and Laggards in the Mining Industry 13 The Canadian Mining Experience 17 Major Stakeholders 20 Recommendations 23 Eliminating Mining from the Life Cycle: Golden Circle Jewellers 24 Conclusion 26 References 27 Appendices Appendix A 31 Appendix B 32 Gold and Diamonds: The Social and Environmental Impacts of Mining for the Diamond Ring Introduction In order to explore the mining industry in Canada from a perspective that affects us through a symbol of love, unity, and value, the diamond engagement ring has been chosen as the example of how our desires affect the social and natural environment of mines around the world, as well as in Canada. The diamond engagement ring is not necessary to our survival; we do not depend on it for transportation, better lifestyles, electricity, or any other necessity. The diamond ring is a purely superficial object that our society values enormously thanks to very effective marketing campaigns. Given the high social and environmental impact of gold and diamond mining on millions of peoples’ lives around the world, it is important to start questioning the importance of “bling,” and whether diamonds really are a girl’s best friend. The gold and diamond industry is an important economic resource for many countries. Most gold mined is converted into jewellery which has been highly valued for over 8000 years. The second largest market for gold is the electronics industry, because gold does not easily corrode, and is highly conductive. This industry accounts for 8 percent of global demand for gold. Most gold mi