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Financial Analytics: Science and Experience
 

The gold industry of Russia: Trends, problems and prospects for the development

Vol. 10, Iss. 9, SEPTEMBER 2017

PDF  Article PDF Version

Received: 13 July 2017

Received in revised form: 14 August 2017

Accepted: 17 August 2017

Available online: 20 September 2017

Subject Heading: MONITORING OF ECONOMIC PROCESSES

JEL Classification: L61

Pages: 972–986

https://doi.org/10.24891/fa.10.9.972

Zaernyuk V.M. Russian State Geological Prospecting University, Moscow, Russian Federation
zvm4651@mail.ru

Chernikova L.I. Financial University under Government of Russian Federation, Moscow, Russian Federation
tariff2004@mail.ru

Zabaikin Yu.V. Russian State Geological Prospecting University, Moscow, Russian Federation
9264154444@yandex.ru

Importance The article studies the main development tendencies of the Russian gold mining market, determination of the leading regions and corporations, and the factors that impede the development of the industry.
Objectives The purpose of the study is to identify possible ways of solving problems in the gold mining industry, considering the experience of developed countries and features of the Russian economy.
Methods During the research, we used the methods of expert assessments, analytical methods for collecting and processing information as well as methods of comparative and statistical analysis.
Results We generalize the changes in the demand and supply in the world gold market within 2010–2016. We have identified the factors determining the current state of world gold mining. We have revealed the tendencies and main problems of gold mining enterprises.
Conclusions It becomes more complicated for gold mining companies to attract financing. In the current situation, it is extremely important for them to assess their financial position and strategic opportunities. To prevent the overrun of funds, major efforts should be applied.

Keywords: gold-mining, branch, demand, raw materials base, enterprise

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