Sergo Ordzhonikidze Russian State Geological Prospecting University, Moscow, Russia:

V. T. Borisovich, Professor, Doctor of Engineering Sciences, vitaly.bor37@gmail.com
N. Kh. Kurbanov, Professor, Doctor of Economic Sciences
V. M. Zaernyuk, Professor, Doctor of Economic Sciences
B. M. Seifullaev, Professor, Candidate of Economic Sciences

The increasing role of risks of Russian gold mining companies necessitates paying special attention to the issues of their management. The article presents the results of the survey conducted by the authors on the risks relevance for gold mining companies. In the course of the research questions were formulated and answers of respondent companies were received concerning approaches applied in practice to identification of significant risks, their assessment and management. The aim of the article is to study approaches to the identification, assessment and management of key risks of Russian gold mining companies. The methodological basis of the research is the conceptual provisions of risk management, as well as the studies of Russian and foreign scientists in the field of risk management. It is revealed that market, operational and financial risks have the most significant impact on the production and economic activity of gold mining companies and their financial results. The risks associated with occupational and industrial safety and environmental risks are less significant. The largest Russian gold mining companies consider themselves more exposed to currency risks than to interest rate risks. In the course of the research it was established that the concept of social license is not yet studied in the theoretical aspect, it is practically not considered in the literature, it is not mentioned in the state and municipal documents, and therefore it is not used in the practice of management by Russian gold mining companies and local governments. The expediency of the social licensing concept introduction in Russia is substantiated. The results of the research can be useful for the top management of gold mining companies as a benchmark for the comparative analysis risk management methods. The obtained results can be the basis for the further research.

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