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Financial Analytics: Science and Experience
 

Digitalization as a new way to transform conventional production methods in the natural resources sector

Vol. 14, Iss. 3, SEPTEMBER 2021

Received: 21 January 2021

Received in revised form: 15 February 2021

Accepted: 7 March 2021

Available online: 16 August 2021

Subject Heading: MONITORING OF ECONOMIC PROCESSES

JEL Classification: O14, O32, Q01

Pages: 244–262

https://doi.org/10.24891/fa.14.3.244

Viktor M. ZAERNYUK Russian State Geological Prospecting University (MGPI-RSGPU), Moscow, Russian Federation
zvm4651@mail.ru

https://orcid.org/0000-0003-3669-0907

Chi CHANG Russian State Geological Prospecting University (MGPI-RSGPU), Moscow, Russian Federation
282694629@qq.com

https://orcid.org/0000-0002-7149-8323

Subject. This article deals with the issues of implementation of digital transformation of enterprises in order to improve their core competitiveness and achieve high rates of development.
Objectives. The article aims to analyze and assess the baseline conditions and opportunities for the digital transformation of natural resources sector enterprises.
Methods. For the study, we used analytical, quantitative, and expert assessment methods and techniques, and the systems approach.
Results. Based on a comparative analysis of the digital infrastructures of Russian natural resources sector enterprises and Chinese industrial sector enterprises, the article reveals a significant lag between Russian and Chinese enterprises in terms of IT-technology, -network, and special software supplying and upgrading. The article emphasizes the importance of training highly qualified natural resources management experts and specialists that have new information and network skills and competencies.
Conclusions. The next-generation model of industrial development based on the comprehensive application of next-generation digital technologies, contributes to the creation of a digital world that is changing conventional management and business models. The necessary business management software should primarily be based on home-grown products to manage production in the natural resources sector, rather than on the software used in other economies.

Keywords: digitalization, mineral resources sector, State support

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