Unveiling Sustainable Mineral Resources Extraction, foreign direct Investment, Technology Advancement nexus: Evidence from BRICS countries

Abstract

The study gives a comprehensive overview of the economic, technological, and policy perspectives of the diverse relationship between technological advancement and mineral resource extraction. The data has been taken from 1990 to 2022, which is an important period of economic and technological variations in the BRICS countries. This study highlights a well-defined mining profile of the region and the and social hurdles and environmental cost during the extraction of the mineral resources. It explains the interaction of mineral resource rent and technological advancement interaction, using CADF unit root test and the Pool Mean Group Estimator. The findings clear that advancement and innovation in technology advances the rates of extraction, deteriorating the environmental impact and sustainability. The findings show the need of forthcoming extraction of resources scientifically along with consequences of environmental, and economic social elements. Eventually, the study explains that how technical advancement can enhance the mining extraction methods and provides an insightful information regarding the sustainable natural resources extraction. The study is adding the discussion on sustainable growth, suggesting the theoretical implications for policymakers in the sector and signifying the new directions for future studies.