Model for Assessing Efficiency of Processing Geo-Resources, Providing Full Cycle for Development—Case Study in Russia

The environmental impact and occurrence of frequent ecological disasters have prompted a reassessment of societal values in the modern era. There has been a shift in the economic model, moving away from the pursuit of extensive growth towards a sustainable development model that prioritizes the preservation of the natural balance. This issue is of particular relevance in regions where mining activities are prevalent. In such regions, mining enterprises exert a considerable burden on the ecosystem, acting as significant sources of industrial waste. In light of the aforementioned considerations, the objective of this study is to develop a model for assessing the efficiency of industrial geo-resource recycling, taking into account both environmental and economic factors. The methodology is founded upon the principles of the efficient and comprehensive exploitation of natural and industrial geo-resources, in alignment with the tenets of sustainable development and the theoretical tenets of a cyclic economy. The methodology for assessing the efficiency of geo-resource recycling is based on the following three principal analytical approaches: economic and statistical, structural and logical, and comparative. The article examines the genesis of industrial waste, delineates the divergent patterns of the accumulation and utilization of mining waste, and classifies categories of industrial waste. The principal stages of the feasibility study are delineated, an algorithm is devised, and a model for evaluating the efficacy of industrial raw material recycling is proposed. The enumerated factors facilitate the recommendation of the model in the selection of the most optimal investment project in industrial geo-resource recycling.