text: 19.36 Amongthosecountries dependent onmineral commodities forgovernment revenue, foreign exchange andemployment, aswellaseconomic development generally, manyarehighly dependent ononeorveryfewminerals andmetals, such ascopper, tin,ironoreorbauxite. Thatdependence hasdeveloped overmanyyears andmakesthosecountries highlyvulnerable toincomefluctuations thatresult from thevolatile nature ofmineral markets. Diversification tootherminerals maybe needed. Mostdeveloping countries, withtheexception ofverysmallentities, lack asystematic understanding ofplanning, regional development andpromotion of investment inthemineral resources sector. Toimprove suchknowledge canbea time-consuming exercise. Inmanycountries, mostofthebasicinformation is available, butwouldhavetobecollected andmadeavailable tothoseinterested in exploration andminedevelopment. 19.37 Additional investment isrequired, onaselective basis, forsmallto medium-mining projects, forminesproducing goldandotherhigh-value materials and metals, forrehabilitation ofexisting facilities, forproduction ofnon-metallic minerals wherethosesubstitute forimported rawmaterials andformineral resources surveys generally. Government fundsandthoseprovided bymultilateral andbilateral co-operation agencies arelimited, andsubstantial contributions are required fromtheprivate sector, bothwithin developing countries andfrom international investors. Thereisaneedtocreate reasonable conditions for attracting finance while,atthesametime,maintaining theprinciple ofpermanent sovereignty overnatural resources. 19.38 Theobjectives ofthesubprogramme are: (a)Toassist developing countries tostrengthen theircapacities toexplore, develop andmanageeffectively theirmineral resources; (b)Toassist developing countries instrengthening theircapacity toensure theirpermanent sovereignty overnatural resources; (c)Toensure acontinuous flowofinformation toMember States onthe prospects for,trends onanddevelopment inselected minerals andinthe international minerals sector fordecision-making, including identification of financing andinvestment requirements; (d)Toco-operate withotherinternational organizations anddevelopment agencies inefforts topromote thetransfer oftechnology todeveloping countries, inparticular, theleastdeveloped countries. -8-andrational policies areimportant forachieving progress andremaining, or becoming, competitive. Themostimportant constraints arethelackofadequate training facilities andopportunities togainexperience. Because ofthe international nature oftheminerals industry, suchexperience hastobegainedat theinternational level, andnotonlyinthenational framework, asisthecasein manycountries atpresent. 19.35 Inrecent decades, thedemandforcertain metals hasbeensharply curtailed bysUbstitution ofman-made materials, e.g.,substitution fortinbyplastics. Prospects forthecontinuation oftheuseofsynthetics haveimportant implications fortheconsumption, required ratesofinvestment andavailability offinancing to theminerals industries, whichneedtobeexamined systematically. 19.36 Amongthosecountries dependent onmineral commodities forgovernment revenue, foreign exchange andemployment, aswellaseconomic development generally, manyarehighly dependent ononeorveryfewminerals andmetals, such ascopper, tin,ironoreorbauxite. Thatdependence hasdeveloped overmanyyears andmakesthosecountries highlyvulnerable toincomefluctuations thatresult from thevolatile nature ofmineral markets. Diversification tootherminerals maybe needed. Mostdeveloping countries, withtheexception ofverysmallentities, lack asystematic understanding ofplanning, regional development andpromotion of investment inthemineral resources sector. Toimprove suchknowledge canbea time-consuming exercise. Inmanycountries, mostofthebasicinformation is
analysis: This text appears to be discussing the economic and developmental challenges faced by countries that rely heavily on mineral commodities, particularly in terms of their vulnerability to market fluctuations and the need for diversification and investment. The text also touches on the importance of international cooperation and the need for developing countries to strengthen their capacities in the mineral resources sector.