Regional Economics: Theory and Practice
 

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Gold mining industry in Russia and its regions

Vol. 17, Iss. 10, OCTOBER 2019

Received: 10 June 2019

Received in revised form: 22 July 2019

Accepted: 19 August 2019

Available online: 15 October 2019

Subject Heading: REGION IN NATIONAL ECONOMY

JEL Classification: L61

Pages: 1822–1833

https://doi.org/10.24891/re.17.10.1822

Mongush Sn.P. Tuvinian Institute for Exploration of Natural Resources of Siberian Branch of RAS, Kyzyl, Tyva Republic, Russian Federation
fqkey@mail.ru

https://orcid.org/0000-0002-3435-0944

Oidup T.M. Tuvinian Institute for Exploration of Natural Resources of Siberian Branch of RAS, Kyzyl, Tyva Republic, Russian Federation
tana_o@mail.ru

ORCID id: not available

Subject This article discusses the issues related to the gold mining industry of the Russian Federation.
Objectives The article aims to investigate the gold market taking into account the analysis of trends in its development, as well as develop proposals to determine the best areas of business of the Russian gold mining companies.
Methods For the study, we used the methods of statistical analysis and information data collection and processing.
Results The article shows the structure of and changes in gold production in Russia in 2014–2018, as well as the volume and valuation of gold in the reserves of the Central Bank of Russia. It also describes the structure of gold mining by subject of the Russian Federation.
Conclusions Gold is an ideal investment target, a reserve asset for central banks, as its price is stable against fluctuations in the macroeconomic currency market. The State should simplify the licensing procedure for gold production. However, the lack of funds affects the situation.

Keywords: gold mining, region, metal, industry, enterprise, demand

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