THE MINING INDUSTRY: AN INFORMATION BASIS FOR CHANGES IN GOVERNMENT REGULATION

Abstract

The availability of mineral resources, in the context of intensifying globalization processes and growing technological gap between countries, remains important for economic development and national security, but complicating the process of extraction and competition in resource markets requires improved government regulation. Within each individual enterprise, complex problems of technological renewal in order to increase the efficiency of extraction of mineral resources while preserving the natural environment and achieving national interests cannot be solved. The aim of the study was to analyze the main performance indicators of mining enterprises with further delineation of the essence of crisis processes and the formation of an information basis for timely changes in government regulation of this key sector of the national economy. To characterize the crisis processes in the mining industry, the following methods were used: induction and deduction, comparison and systematization – in the study of current trends in the volume and economic efficiency of mining; synthesis and analysis – to determine the dynamics and characteristics of changes in the number of enterprises, the volume of sales, the number of employees and the size of the final financial results of mining enterprises in terms of certain economic activities; morphological analysis – to outline the content of crisis processes and determine the impact of key factors; graphic – for visual presentation of theoretical and methodological material; abstract-logical – for theoretical generalizations and conclusions of the study. The generalization of official analytical data and positions of experts forms a general idea of the processes in the Ukrainian mining industry. The results of the analysis revealed: reduction of the number of enterprises, in particular large and medium-sized ones with fragmentation of economic potential and reduction of the ability to compete with multinational corporations; a significant decline in sales of strategically important minerals for our country; reduction in the number of employees, in particular to coal miners; deterioration of financial performance in 2020, including losses. It is substantiated that the obtained results are the basis for changes in state regulation, which should be focused on the protection of national interests on the basis of sustainable development and social responsibility with the creation of favorable conditions for achieving the goals of mining enterprises.