The sustainable development path of the gold exploration and mining of the sanshan island‐jiaojia belt in laizhou bay: A did‐svar approach

Abstract

Gold is a vital strategic resource, and it plays an irreplaceable role in maintaining national financial security, enhancing currency guarantee capabilities, and serving as a countryʹs last means of payment. Gold plays an essential role in several fields that are vital to sustainable development. In 2020, an ultra‐large‐scale gold deposit spanning land and sea was discovered in Sanshan Island‐ Jiaojia Belt, Laizhou Bay, China. Its owner, Shandong Gold Group, also established Sanshan Island as a new ecological mine model. Applying a difference in differences‐structural vector autoregres-sion (DID‐SVAR) approach, our research found that the whole biodiversity of Laizhou Bay decreased by 0.27% purely due to gold exploration in Sanshan Island‐Jiaojia. In the long run, gold mining will have an apparent 2.9% adverse effect on marine products, and fishing for marine products will have a 2.1% adverse effect on marine products themselves.