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The mining sector gives a vital contribution to the economies of Latin America and the European Union (EU). It not only provides substantial amounts of revenues and jobs, directly or via its supply chains, but also supplies the raw materials that are essential for fast-growing, cutting-edge sectors such as renewable energy, fuel-efficient transportation or smart technologies. On the other hand, it faces multiple challenges, such as the difficulty to cope with lower commodity prices, the need to respect high social and environmental standards, or the necessity to meet more exacting customer requests.
The Latin America and the EU have stated their shared interest in harnessing the full potential of the extractive industries, as contributors to the local economies and as suppliers to key sectors of the future, and to do so in a socially, environmentally and economically sustainable way, in full alignment with the UN Sustainable Development Goals.
The Mineral Development Network Platform will connect EU and Latin American stakeholders in the extractive industries sector and will strengthen and forge new bonds across the Atlantic among more than 100 actors that will be integrated into this initiative. In addition, the MDNP will become a key agent to participate in the scientific, social and regulatory development dialogue.