More jobs
Higher revenue generation
Economic diversification
All of the above
Answer is Wrong!
Answer is Right!
The correct answer is: d) All of the above
Value addition to minerals within the state can create more jobs, higher revenue generation, and economic diversification.
- More jobs: Value addition to minerals requires more processing and manufacturing, which creates more jobs. For example, mining iron ore and exporting it as a raw material creates fewer jobs than mining iron ore, processing it into steel, and manufacturing steel products.
- Higher revenue generation: Value addition to minerals increases the value of the minerals, which leads to higher revenue generation for the state. For example, if a state exports iron ore at a price of $100 per tonne, it will generate $100 in revenue for every tonne of iron ore that is exported. However, if the state processes the iron ore into steel and exports the steel at a price of $200 per tonne, it will generate $200 in revenue for every tonne of iron ore that is processed and exported.
- Economic diversification: Value addition to minerals can help to diversify the economy of a state. For example, if a state is heavily dependent on agriculture, value addition to minerals can help to create 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z"/> Subscribe on YouTube