This report, produced by Oxford Policy Management’s Extractive Industries team, analyses the recent evolution of mineral dependence among low- and middle-income countries, including their relative vulnerability to the resource curse. The analysis reveals that there has been a strong increase in mineral dependence among low- and middle-income countries since 1996, in terms of both the number of the countries that have become mineral dependent and their degree of dependence. The biggest increases in dependence have occurred among countries that rely on non-fuel minerals such as copper and gold, particularly since 2005, when commodity prices started to rise sharply. However, for both fuel-dependent and non-fuel, mineral-dependent countries, the trend has not been relentlessly upward for all countries. While some countries have joined the ranks of the mineral-dependent, others have fallen out of the rankings, demonstrating that it is possible for states to reduce their dependence on minerals.

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Oxford Policy Management (OPM)