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Date submitted2024-03-18
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Date accepted2024-11-07
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Date published2025-01-14
Public-private partnership in the mineral resources sector of Russia: how to implement the classical model?
A comparative financial and economic analysis is conducted of different public-private partnership (PPP) models for industrial infrastructure construction projects in an underdeveloped resource-rich region. The Stackelberg game theory-based model is used to build a parametrized family of bilevel mathematical programming models that describe an entire spectrum of partnership schemes. This approach enables a comparison of different strategies for the distribution of infrastructure investments between the government and the subsoil user and hence a scenario of transformation of Russia’s current PPP scheme into the classical partnership model, which is practiced in developed economies. To this end, a database is created on fifty polymetallic deposits in Transbaikalia, and a comparative analysis is conducted of Stackelberg-equilibrium development programs that implement different PPP models. The numerical experiment results show the classical PPP model to be most effective in the case of a budget deficit. The analysis helps assess the economic consequences of a gradual transformation of the partnership institution in industrial infrastructure construction from investor support in the Russian model to government support in the classical scheme. Intermediate partnership models, which act as a transitional institution, help reduce the budget burden. These models can be implemented by clustering the deposits, developing subsoil user consortia, and practicing shared construction of necessary transport and energy infrastructure. The intensification of horizontal connections between subsoil users creates favorable conditions for additional effects from the consolidation of resources and can serve as a foundation for a practical partnership scheme within the framework of the classical model.
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Date submitted2022-05-03
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Date accepted2022-11-22
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Date published2023-02-27
Development of methodology for scenario analysis of investment projects of enterprises of the mineral resource complex
Theoretical and applied aspects of scenario analysis of investment projects of enterprises in the mineral resource sector of the economy are considered, its advantages and disadvantages are analyzed. Taking into account the organizational and economic features of mineral resources management, a number of new modifications of the scenario analysis method, aimed at solving an urgent problem - reducing the information uncertainty in assessing the expected efficiency and risk of investment projects, are proposed. The peculiarity of the proposed new modifications is the use of the interval-probabilistic approach in the implementation of the scenario analysis procedure. This approach is based on a moderately pessimistic system of preferences in obtaining point values of the investment project initial parameters. Fishburn estimates and the hierarchy analysis method were used to reduce subjective uncertainty. The maximum likelihood values in the sense of the maximum a priori probability are used as expected estimates. An additional indicator of risk assessment, which characterizes the probability of the event that the net present value of the project will take a value less than the specified one, is proposed. When analyzing one project, this indicator is more informative than the standard deviation. A statistical hypothesis was tested on the improvement of the validity of investment decisions developed using the modified scenario analysis method compared to the standard method.
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Date submitted2022-03-09
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Date accepted2022-11-17
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Date published2023-02-27
Development of methodology for economic evaluation of land plots for the extraction and processing of solid minerals
The Russian economy has a pronounced resource specialization; in many regions, subsoil use is a backbone or one of the main areas of the economy. In these conditions, the improvement of the methodology for the economic evaluation of lands on which mining enterprises are located is of particular relevance. On the basis of the existing experience in assessing industrial land, the authors present a developed methodology for determining the cadastral value of land plots where mining enterprises are located, taking into account their industry characteristics and the specifics of production and commercial activities. At the same time, cadastral valuation is considered as a specific form of economic valuation. Particular emphasis is placed on the importance of taking into account the cost factors that have the greatest impact on the formation of the cost of land for the extraction and processing of solid minerals, and the method of assessment depending on the characteristics of the object. To carry out theoretical research, the methods of analysis and synthesis of legal and scientific and technical literature in the field of cadastral and market valuation of land were used in the work. The practical part is based on the application of expert methods, including the method of analysis of hierarchies, system and logical analysis. The method of M.A.Svitelskaya was chosen as the basis, which presents a combination of modified methods of statistical (regression) modeling and modeling based on specific indicators of cadastral value. The use of this technique in economic practice contributes to increasing the efficiency of cadastral valuation and the objectivity of its results.
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Date submitted2016-11-01
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Date accepted2017-01-20
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Date published2017-04-14
Technology and economics of near-surface geothermal resources exploitation
- Authors:
- E. I. Boguslavskii
- V. V. Fitsak
The paper presents economic justification for applicability of near-surface geothermal installations in Luga region, based on results of techno-economic calculations as well as integrated technical and economic comparison of different prediction scenarios of heat supply, both conventional and using geothermal heat pumps (GHP). Construction costs of a near-surface geothermal system can exceed the costs of central heating by 50-100 %. However, operation and maintenance (O&M) costs of heat production for geothermal systems are 50-70 % lower than for conventional sources of heating. Currently this technology is very important, it is applied in various countries (USA, Germany, Japan, China etc.), and depending on the region both near-surface and deep boreholes are being used. World practice of near-surface geothermal systems application is reviewed in the paper.
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Date submitted2016-10-28
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Date accepted2017-01-08
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Date published2017-04-14
Problems of mineral tax computation in the oil and gas sector
- Authors:
- N. G. Privalov
- S. G. Privalova
The paper demonstrates the role of mineral tax in the overall sum of tax revenues in the budget. Problems of tax computation and payment have been reviewed; taxpayers and taxation basis of the amount of extracted minerals have been clearly defined. Issues of rental content of natural resource taxes are reviewed, as well as problems of right definition of the rental component in the process of mineral tax calculation for liquid and gaseous hydrocarbons. One of important problems in mineral tax calculation is a conflict between two laws – the Subsoil Law and the Tax Code of Russian Federation (26 th chapter). There is an ambiguity in the mechanism of calculating amounts of extracted mineral resources – from the positions of the Tax Code and the Subsoil Law. The second problem is in the necessity to amend the mineral tax for oil extraction the same way as it has been done for gas extraction, when characteristics of each field are taken into account. This will provide a basis for correct computation of the natural resource rent for liquid and gaseous hydrocarbons. The paper offers recommendations for Russian authorities on this issue.
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Date submitted2014-06-23
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Date accepted2014-09-15
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Date published2014-12-22
Topical issues of the management of extraction of underground waters on the territory of the Russian Federation
- Authors:
- N. V. Pashkevich
- E. I. Golovina
Water is a key component of our environment; it is a renewable, limited and vulnerable natural resource, which provides for the economic, social, and environmental well-being of the population. The modern system of taxation and regulation of subsoil use in the extraction of groundwater is currently imperfect and has definite disadvantages, among them not enough control of natural resources by the state, the commercialization stage of licensing, and the budget deficit, which is passed on to other areas of the national economy. General information about the state of the underground water supply in Russia, and the negative trends of underground water use are presented. The system of licensing underground water intakes in Germany is briefly described; some measures to improve the system of man-agement of Russia’s underground waters fund are suggested.
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Date submitted2008-11-24
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Date accepted2009-01-04
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Date published2009-12-11
Stadies on creation of economic-organizing mechanism in the sphere of rational subsoil use
- Authors:
- A. M. Zhukov
The essence of terms «subsoil use» and «rational use of mineral resources» in economic aspect is considered in the work. The main prerequisites and ways of effective economic-organizing mechanism creation in the sphere of subsoil use management are stated.
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Date submitted2008-11-19
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Date accepted2009-01-23
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Date published2009-12-11
The legal and economic conditions of attraction investments to the exploration in Russia
- Authors:
- A. A. Fedchenko
- V. G. Beliakov
The problems of rational use of the huge mineral-resource potential of Russia are considered. The causes of insufficient exploration volumes in Russia are analyzed. It is proposed measures of the legal regulations in order to create junior geological companies in Russia and increase private investments to the exploration of deposits.
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Date submitted2008-11-11
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Date accepted2009-01-08
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Date published2009-12-11
Development of an economic-organizing mechanism of mineral resourсe base renewal in Russia's oil industry
- Authors:
- N. V. Pashkevich
- L. A. Nikolaychuk
In paper there has been developed an economic-organizing mechanism of mineral resource base renewal of Russia's oil industry using financial and tax instruments and licensing system of soil use. The proposed mechanism is targeted on perfecting of soil use managing system, attracting investments into geological exploration branch, stimulating innovation constituent in exploration and extraction of oil, rational use of mineral resource base in oil industry.
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Date submitted2008-11-07
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Date accepted2009-01-08
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Date published2009-12-11
The main tasks of modern tax system development in fuel and energy complex industries
- Authors:
- E. A. Solovyova
- A. M. Zhukov
The basic principles of the existing tax structure in the sphere of entrails usage are stated in the article. Some disadvantages of tax on mineral resources extraction in respect of energy resources are pointed out. The necessity of tax rates differentiation with reference to tax on mineral resources extraction is proved in an effort to stimulate rational subsoil usage.