Moscow State Mining University – National University of Science and Technology “MISiS” (Moscow, Russia):

Petrosov A. A., Professor, Doctor of Engineering Sciences, phone: +7 (499) 230-25-92
Kopylov A. S., Assistant Professor, Candidate of Engineering Sciences
Ivanov V. A., Candidate of Economic Sciences

More than 70% of mines in economically developed countries develop low-scale gold deposits. Russian part of gold extraction from low-scale deposits is not more than 2-4%. During the simultaneous development of some gold deposits (4 and more), the joint risk of mining loss is decreased to 10% and less, bringing the summary result to root-mean square value of risks. At the same time, total efficiency of mastering of group of deposits is brought to weighted average of development efficiency. Analysis of interconnection of state and business for development of gold deposits defines the following types of partnership as the most efficient:
1) possibility of state co-financing of projects on creation of regional gold-mining holdings (geological prospecting works, investments in communications and infrastructure);
2) distribution of risks between state and business, and insurance of guarantees and obligations, which makes the industry attractive for investors;
3) improvement of tax and legal regime for the purpose of development and attraction of investments in gold mining;
4) decreasing of specific costs of the project due to simultaneous development of the group of deposits;
5) active mastering of remote little-developed territories with formation of high-efficient mining-industrial clusters;
6) calling of working-age citizens in regions of Eastern Siberia and Far East;
7) increasing of extraction of gold, controlled by state and, as a result, replenishment of gold value funds of the country.

1. Petrosov A. A. Strategicheskoe planirovanie, prognozirovanie, ekonomicheskie riski gornogo proizvodstva (Strategic planning, forecasting and economic risks of mining industry). Moscow : Gornaya kniga, 2009, 683 p.
2. Petrosov A. A. Gornyy Informatsionno-Analiticheskiy Byulleten – Mining Informational and Analytical Bulletin, 2010, No. 10, pp. 103–106.
3. Ivanov V. A. Organizatsionno-ekonomicheskoe obosnovanie gosudarstvenno-chastnogo partnerstva v osvoenii malomasshtabnykh mestorozhdeniy zolota : avtoreferat dissertatsii ... kandidata ekonomicheskikh nauk (Organization-economic substantiation of state-private partnership in mastering of low-scale gold deposits : thesis of inauguration of Dissertation … of Candidate of Economic Sciences). Moscow : Publishing House of Moscow State Mining University, 2013.