Key criteria, principles and directions for sustainable gold mining

Abstract

Subject. The article discusses what distinguishes the sustainable development of gold mining in the Russian Federation. Objectives. I herein set up criteria and principles for ensuring the sustainable development of gold mining so as to reach the balance of the economy, environment and social sector throughout places where gold mining enterprises operate. Methods. My theoretical projections are based on the analysis of economic literature and empirical research on resources, environment and sustainable economic development in the existing economic growth areas. Results. I examine the relationship of key criteria and principles for the sustainable development of gold mining. The article aligns directions for the reasonable natural resource use in gold mining, displays opportunities digital technologies give at phases of prospecting, production, processing, trade, maintenance and repair of mining equipment. The article also sets up gold mining investment requirements in terms of further sustainable development. Conclusions and Relevance. The set of gold mining requirements for the Russian Federation will now help flag points for further sustainable development of the gold mining sector as a method to steer and manage the business, ensuring the dynamic growth and balance of related and mutually dependent social, environmental and economic aspects provided they could be regularly and constantly updated. The set of requirements will bring the gold mining sector to the forefront of the Russian industrial production. If a 50 tonnes limit is raised or lifted, the sector will more easily apply for foreign investment and increase the finance of geological prospecting, since the 50 tonnes limit restricted foreign investment in federal subsoil areas.