Consolidation of small and medium mining business in the gold mining industry of the Russian Far East

Abstract

The gold mining industry of the Russian Far East has a great development potential, whose economic growth largely depends on the efficiency of developing a unique mineral resource base. To do this, it is necessary to solve a number of tasks, including the management and organization of economic activities of enterprises engaged in the extraction of placer gold in medium and small volumes. Gold mining companies themselves positively assess the prospects for the development of the industry, despite the preservation of external restrictions imposed by Western countries. At the same time, the current position of the modern gold mining industry is determined not only by the state of the Russian economy, but also by a number of branch features related to the management of gold mining at the enterprise level. At the present time, there are increasing questions about the feasibility of consolidation of small and medium mining enterprises, which will allow them to overcome current trends in the economic development of the industry, by combining their own resources. At the same time, in practice, reverse phenomena are observed, indicating that the industry is segmented and the number of mining companies developing placer deposits is gradually increasing. However, consolidation processes, in the form of integration associations, represent one of the directions of development and effective functioning of Russian gold mining enterprises, therefore they require comprehensive research and remain relevant.