On the necessity of a new government policy in the field of minerals and metals

Abstract

Russia is one of the world leaders in the exploration of natural resources. It is a leading exporter of natural re­sources in the world and the mining industry plays an important role in the economic and social spheres of Rus­sian society. The continuing recession in production of natural resources and the deterioration of mineral re­source supplies adversely affects Russian enterprises. Most of the mining equipment in the country is falling into disrepair and no measures are being taken to replenish these supplies all of which contributes to a less favorable investment climate. This can lead to a situation where a world leader in natural resource production will practically lose control over effective usage of these resources. The objective of this paper is to stress the ne­cessity of immediately changing the State's approach to management of natural resources and of adopting a state governmental policy on management of natural resources. A strategy of sustainable development in the Russian economy requires an immediate change in the existing attitudes to problems related to raw materials along both economic and social lines, both as relates to our goals and the required effort to reach them.