The Role of a Professional Institute in Addressing the Sustainability of Human Capital in the Minerals Industry

Over recent years the trend in Australia has been towards the definitions of sustainable development which emerged from the 1992 Rio Summit of retaining a commitment to ecological integrity, but also incorporating social and economic dimensions of sustainability. Sustainable development may be seen as maintaining and enhancing:natural capital: defined as all natural resources, both environmental and those of traditional economic value; manufactured capital: made by human kind; including produced goods, infrastructure and built environment; human capital: defined as the health, well-being, intellectual capabilities and spiritual welfare of individuals; and social capital: defined as social relations and institutions within and between societies, their norms and functionality (Ameef, 2002). This paper will endeavour to assess the challenges and opportunities facing the professionals and their Institute in the minerals industry in Australia because the MMSD Global and Regional Australia Reports do not, in the authorÆs opinion, adequately address the æhuman capitalÆ input into the current or future development of the minerals industry, in particular, the sustainability of the professionalsÆ skills, knowledge and experiences in a global context.