SUSTAINABLE DEVELOPMENT AND MINERAL-RESOURCES

This article examines the application of the principle of sustainable development to mineral resources. Assuming the substitutability of rep roducible capital for minerals, sustainability can be achieved by savi ng and reinvesting each year an amount equal to the present value of t he annual net revenue (after deducting extraction costs) from the sale of the mineral products. This saving could be assured by an appropria te tax on annual revenue.