The impact of mining on the economy in the Sakha Republic (Yakutia)

Abstract

Studying mining as a special branch of the region is certainly relevant. The analysis is based on revealing its role in the formation of the state budget of the Sakha Republic (Yakutia); calculating the localization (specialization) coefficients of the region in terms of Gross Value Added and the average annual number of employees; identifying the industry’s contribution to the formation of the region’s labor resources; and studying the demand for professions in the industry under study using the example of engineers and technicians in a mining camp. The results of activities in the extraction of basic minerals in the Sakha Republic (Yakutia) in recent years are summed up; the need for corporations to be provided with the information on regions of their presence and strengthening the inclusion of corporations in sustainable development on environmental issues is revealed. The results of the study showed the continued dependence of the Yakutia’s economy on the mining industry in the midterm, a changed ratio of the export commodity structure in favor of hydrocarbon and coal production, and a reduced role of diamond mining. In the future, it is necessary to focus on more detailed characteristics of shift work mining and its impact on the economy of the region.