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Finance of geological survey is the most critical condition for reproduction of Russia's mineral resources and raw materials

Makiev S.S. Russian State Geological Prospecting University (MGPI-RSGPU), Moscow, Russian Federation ( makiev.ss@yandex.ru )

Prokof'eva L.M. Russian State Geological Prospecting University (MGPI-RSGPU), Moscow, Russian Federation ( prokofieva-mila@mail.ru )

Journal: National Interests: Priorities and Security, #5, 2018

Importance The article focuses on financial resources for geological survey and sources of finance.
Objectives The article studies financing issues of geological surveying and searches for sources of finance. We also examine the mix and allocation of financial resources throughout regions, types of mineral resources.
Methods We collect relevant data by perusing relevant literature, making inquiries to organizations that posses the information, involving specialists and surfing the Internet. We systematize and process data for further researches and presentation of data needed to make reasoned managerial decisions. The research involves methods of retrospective analysis and synthesis, and statistics.
Results We analyzed sources of finance for geological survey and propose approaches to raising necessary funds needed to reproduce the pool of natural and mineral resources.
Conclusions and Relevance Financial support to geological survey is the most critical condition to reproduce mineral resources and raw materials. If the reproduction of resources and raw materials and relevant issues are neglected, this will undermine the situation in sectors dealing with mineral resources and raw materials, and affect the economic and energy security of Russia and its international reputation of the country rich in mineral resources and raw materials. The governmental policy for developing available mineral resources shall pursue greater investment opportunities. It would be reasonable to consider venture finance and capabilities of the stock market as a possible option of additional funds.


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