Risk management for resilience of mineral sector-supported economies:Perspectives for the Sierra Leonean case
                                             by Solomon A. Tucker, Ph.D.
Abstract

Historically, mineral resource-rich countries have relied heavily on revenues from the mineral sector for their economic well-being. However, such resource-based economies tend to be vulnerable to a range of cyclical risks and sector-specific hazards.

A realization of these risk events (incidents) often wreaks considerable adverse outcomes on the economy. In spite of this notorious vulnerability of the sector, resource-rich countries often do not prepare themselves suitably, rendering their economies fragile and unstable in the face of risk eventuation. In this paper, selected risk tools are used to demonstrate the nature and impact of unattended risk elements and hazards on the sector and economy.

Generic solutions are offered to improve resilience of the sector and the economy. Policy-supported systematic risk management is recommended as a core requirement, founded on a diversified economy and a knowledge-empowered local human resource base.