The role of CSR policies focused on local content actions in host Countries faced with governance gaps and mining operations
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The idea that a private enterprise has a social function and some obligations to all stakeholders is not something that has always existed. Concepts like sustainable development and shared value appeared only after a long process of trial and error. Understanding the origins of the theory of corporate social responsibility and its evolution will allow us to be ever closer to solving the mystery of what should be the role of private capital in society. It will also help us determine its importance when facing significant challenges due to government absence or weakness in certain territories. This dissertation explores local content policies, one of the evolutions that corporate social responsibility has had as a response to social requirements. This study will endeavour to analyse the type of local content policies that should be implemented during the exploitation of natural resources, more specifically of mineral resources. This will be a challenge given the complexity of the mining industry and the potential impact of the exploitation activities on the nearby communities. The research will highlight the difficulties, advantages and disadvantages that arise during the implementation of local content policy. The alignment of corporate and government interests, as well as doing business for a common and coordinated purpose, are shown as possible solutions to the adverse effects of the general exploitation of mineral and natural resources. Other options presented that could offer a solution to government gaps and the unsatisfied needs of the communities include commitment on developing local capacities, supporting the private initiative and investing with the purpose of replicating the benefits produced by the mines.