The Gold Mining Industry of Magadan Oblast under Sanctions: Risks for the Region

N. V. Galtseva
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Abstract

Abstract— The introduction of a new package of sanctions in connection with the start of a military operation in Ukraine in 2022 is particularly changing the conditions for functioning of Russia’s gold mining industry, which uses high-performance foreign equipment for mining and sells its output on the global market. The article considers the factors complicating the industry and which have triggered an increase in production costs and decrease in the sale price of gold: a ban on foreign trade operations for the largest partner banks of subsoil users, an embargo by foreign countries on the purchase of Russian gold and import of foreign equipment and spare parts, and the Russian Central Bank’s decrease in the dollar/ruble exchange rate from May 2022 to January 2023. The case of a specific enterprise in Magadan oblast was used to assess the efficiency of placer gold mining under the changed conditions as of July 2022 and the forecast for 2023. Federal and regional measures were proposed to help smooth the severity of emerging problems in the industry and consequences for the economy of this single-resource northern region.
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制裁下的马加丹州金矿产业:该地区的风险
摘要:与2022年乌克兰军事行动开始相关的一揽子新制裁措施的出台,尤其改变了俄罗斯黄金采矿业的运作条件,该行业使用高性能的外国设备进行采矿,并在全球市场上销售其产出。文章考虑了使该行业复杂化并引发黄金生产成本上升和销售价格下降的因素:禁止地下用户的最大合作银行开展外贸业务,外国禁止购买俄罗斯黄金和进口外国设备和备件,以及俄罗斯央行在2022年5月至2023年1月期间降低美元/卢布汇率。以马加丹州某企业为例,对2022年7月变化条件下的砂金开采效率和2023年预测进行了评估。提出了联邦和区域措施,以帮助缓和工业中新出现的问题的严重性以及对这个资源单一的北部地区的经济造成的后果。
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来源期刊
Regional Research of Russia
Regional Research of Russia Social Sciences-Urban Studies
CiteScore
1.60
自引率
0.00%
发文量
21
期刊介绍: Regional Research of Russia is the sole social science English-language journal focused on spatial development of Russia and its regions, and the post-Soviet states. The journal covers issues of economic and human geography, regional geography, regional economics and sociology, spatial planning, regional policy, urban and rural studies, and geography of resource management. The journal presents scientific results gained by researchers both in Russia and abroad. It aims to promote contacts between Russian and foreign regional specialists. Although articles are devoted to regional problems of Russia and the post-Soviet space, the journal welcomes contributions from all countries. Regional Research of Russia publishes English translations of articles selected from three Russian academic journals: Izvestiya Rossiiskoi Akademii Nauk. Seriya Geograficheskaya, Izvestiya Russkogo Geograficheskogo Obshchestva, Region: Ekonomika i Sotsiologiya. and from other Russian-language journals on the case-by-case basis, as well as original papers. The source of each article is described at the article level on the title pages. The selection for Regional Research of Russia is made by the Editorial Board. Both original papers and the articles selected from other journals are peer-reviewed and subject to the same high standards for the quality of content, and publication ethics. The editorial policy is consistent for all parts of the journal. Currently most of the articles are from Russia, but the journal welcomes original manuscripts on regional problems in the English or Russian languages from all countries.
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