Based on this metaphor, the term has come to be used within a context of economic development and CSR (corporate social responsibility) - to describe the proportion of the value derived from asset exploitation which stays 'in country' and benefits local communities.
For example, in the diamond industry, the beneficiation imperative argues that cutting and polishing processes within the diamond value chain should be conducted in-country to maximise the local economic contribution.
Beneficiation - the Pros and Cons: Is Africa Giving Away the Value of Its Minerals by Exporting Them Unrefined? MJ Morgan Sees Signs That While Beneficiation Is Growing, the Issue Is Not Entirely Straightforward
Apr 01, 2013; IN HIS STATE OF THE NATION ADDRESS, South Africa's President Jacob Zuma said: "One of government's priorities this year is also...