It doesn't matter if the ones controlling the mining are big business or government; they and their friends get the money and the "shortages are shared among the peasants." Unless the state doesn't actually need the windfall, the windfall is bad news. You need an existing social and economic infrastructure to manage these things. Some culpably naive folks claim that a democratic government(*) will use windfall mineral wealth fairly. Observation says otherwise--unless (as in Alaska) the money isn't actually essential or there's a very strong culture of all pulling together already in place.
It might almost be better for a business owned by a single person to exploit the resource, because there's a chance the owner might develop a conscience. A board of directors or government bureaucracy never will.
(*) What stranger incantation is there than the phrase "democratic government?" It conflates a form of selecting particular government officials, the liberty of the people, and a constellation of sensed responsibilities. Just have right form of government, and everything happens by magic.
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