Managing the social and economic development of the mining complex and its role in the global economy

Abstract

Managing the social and economic development of the mining complex and its role in the global economy

Gabaraev O. Z., Galachieva S. V., Kubalov R. O., Gabalov A. S., Borisov D. O.

Incoming article date: 10.03.2020

The mining industry, as well as the socio-economic development of this sector, makes a significant contribution to the development of the economy of some low-and middle-income countries rich in non-fuel minerals, as evidenced by the modified mining contribution Index (IVGP-BP). 10 of the 20 countries in which the mining industry contributes the most (the highest GPI-BP) rose one or two positions higher, according to the world Bank's country classification, between 1999 and 2019. Based on detailed data from the mining sector, such as mining, exports, prices, rents for mineral resources, mineral exploration expenditures, and state budget revenues, the current situation for 2019 is analyzed, as well as trends regarding the contribution to the development of the socio-economic level of the mining industry for 1999-2019.

Keywords: mining, minerals, industry, economy, export, mineral rent, gold, coal