Balanced socio-economic development of Northern regions in relation to the exploitation of mineral resources: The Komi Republic case

Subject. The article discusses the impact of mineral resource exploitation on balanced development of the region, using the Komi Republic case. Objectives. The aim is to assess the role of mineral resource exploitation in the socio-economic development of the region, and in increasing the balance of regional development. Methods. The study employs the analysis of resource and socio-economic indicators of regional development related to the development of the mineral resources base, tracing their dynamics. Results. The paper demonstrates that despite the large-scale mining, the balance of the resulting economic and social effects and, in general, the balance of regional development is inadequate, population outflow continues, fiscal and budgetary imbalances exist, and the problems of mining single-industry towns remain acute. Conclusions. To increase the balance and sustainability of regional development, the study offers a set of measures. They include an increase in industrial reserves, volumes of extraction and processing of mineral resources, reproduction of mineral resource base, involvement of previously explored deposits in the development, increase in the share of taxes paid by mining enterprises to territorial budgets, and enhanced corporate social responsibility. It is important to register mining enterprises or their separate divisions at the place of work, expand the powers and responsibilities of regions in the management of subsurface use. The findings can be used by executive authorities of regions in making managerial decisions.