Setting the limits to extraction: A biophysical approach to mining activities

- Management of natural resources as irreplaceable providers of life-supporting services
- Applying the Stock-Flow/Fund-Service model originally developed by Nicholas Georgescu-Roegen
- Recognition of the existence of biophysical limits to extraction
- Explicit identification of tradeoffs between mining activities and changes in the socio-ecological system
- Collective deliberation is required to determine to what extent extraction is socially acceptable.

While the mining industry is steadfastly committed to the goal of increasing extraction of minerals, the failure to recognize the existence of biophysical constraints to extraction results in massive degradation to socio-ecological systems. In this paper, we propose an innovative approach for analyzing mineral extraction which links the use and management of natural resources by means of the Stock-Flow/Fund-Service model developed by Georgescu-Roegen. Mining is a productive process that not only depletes minerals ores but also affects other natural resources that are needed to maintain life-supporting processes over time. The central claim is the need of recognizing the existence of biophysical limits to extraction in order to manage natural resources as irreplaceable providers of ecosystem services. By providing a new conceptualization for operationalizing the ecosystem services approach based on the Stock-Flow/Fund-Service model, we intend to challenge the current extractivist narrative that assumes unregulated practices, monetary indicators, technological advancements and substitutable resources. We argue that limits to mining activities should depend on a biophysical evaluation of the effects of these activities on the environment. Furthermore, social deliberation is required to determine whether extraction should occur and to what extent it is socially acceptable while still maintaining the integrity of socio-ecological systems.