Mineral resources as natural capital can be transformed into human, social and physical capital, that guarantees the sustainable development of a country, exclusively through professional public management. Public management of a country's mineral resource potential is seen as an element of transnational governance. Regulation involves the use of laws, rules and regulations within the jurisdictional and sectoral capabilities of the state, minimizing its involvement as a producer. The features of the ideology of economic liberalism, which polarizes the societies of raw material producing countries by imposing austerity, as well as lowering trade barriers have been studied. The analysis of the influence of the radical new order of neoliberal world ideology on the development of the extractive sector and the strengthening of state regulation has been presented.
The normative fixation of the principles aimed at regulating the rational use of mineral resources and subsoil protection, which are planned to be fixed in the draft federal law “On Subsoil” currently under preparation, is considered.
