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This research provides insight into the effects of implementing Corporate Social Responsibility initiatives in the mining industry in the European context. In many cases, the strategy is not coincident for shareholders and stakeholders, and as a result, the mining activity could be jeopardized. Achieving socially responsible goals can be a challenging task to conduct. This study aims to examine the relationship between Corporate Social Responsibility (CSR) performance and the economic growth of European mining companies using fixed effects regression models in addition to content analysis. Data from 45 medium- and large-sized mining companies is analyzed from 2018 to 2021. The models were created to assess the relationship between the companies' economic and social responsibility performances. The findings of this paper confirm that Corporate Social Responsibility positively affects the economic growth of companies, including their profitability and firm value. Furthermore, the affecting CSR indicators are identified with respect to each economic indicator, with training, health & safety, and community development being the most common impacting indicators. Peer Reviewed Objectius de Desenvolupament Sostenible::15 - Vida d'Ecosistemes Terrestres Objectius de Desenvolupament Sostenible::6 - Aigua Neta i Sanejament Objectius de Desenvolupament Sostenible::7 - Energia Assequible i No Contaminant Objectius de Desenvolupament Sostenible::8 - Treball Decent i Creixement Econòmic Objectius de Desenvolupament Sostenible::13 - Acció per al Clima Objectius de Desenvolupament Sostenible::9 - Indústria, Innovació i Infraestructura

Каплан Алексей Владимирович, доктор экономических наук, профессор кафедры «Финансовые технологии», Южно-Уральский государственный университет (г. Челябинск), kaplanav@susu.ru Alexey V. Kaplan, Doctor of Sciences (Economics), Professor, Department of Financial Technologies, South Ural State University, Chelyabinsk, kaplanav@susu.ru Важнейшая проблема развития горнодобывающих предприятий стран СНГ – формированию стратегии освоения месторождений минерального сырья в условиях финансовых ограничений. Обоснованы ключевые факторы формирования затрат горнодобывающего предприятия и уровень их влияния на экономические результаты проекта. Разработаны подходы к экономикоматематическому моделированию результатов работы производственного комплекса горнодобывающего предприятия с учетом взаимосвязи и взаимозависимости горно-геологических, горнотехнических, организационных и экономических факторов формирования затрат. Представлены результаты моделирования проектных решений по добыче минерального сырья, обеспечивающие коммерческую эффективность инвестиционных решений. The major problem in the development of mining enterprises in the CIS countries is the formation of a strategy for the development of mineral deposits under financial constraints. The key factors of the cost formation of the mining enterprise and the level of their influence on the economic results of the project are substantiated. The approaches to economic and mathematical modeling of the results of the production complex of mining enterprise are developed taking into account the interconnection and interdependence of mining-and-geological, mining, organizational and economic factors of cost formation. The results of modeling of design decisions relating to the extraction of mineral raw materials ensuring the commercial effectiveness of investment decisions are presented in the article.

It is estimated that China accounts for 94% of the world supply of rare earths (Roskill, 2011). This fact, together with the impact of China’s export policy, poses a substantial risk to the security of the rare earth supply as well as a rare earth price risk. This situation has motivated an increase in the number of rare earth projects under development, i.e., there are currently more than 440 worldwide (Technology Metals Research, 2012). However, economically and environmentally acceptable processing technology to produce tradable products from rare earths (e.g., separated rare earth oxides) is not freely available on the market at the moment. In this respect, a lot of research and development has been initiated on this topic, in academia as well as in industry. Using a proprietary model and scenario-based analysis, we studied the impact that the development of rare earth processing technologies would have on the rare earth market and the economic feasibility of rare earth projects mentioned before. The analysis showed that this impact varies depending on the technology type (e.g., technology can affect project production volume, cost structure or both) and the legal context of the invention (e.g., free or limited by patenting availability of a new technology). The effect of a technology which influences project production volume is not the same as of a technology which changes project cost structure. The impact of a patented processing technology differs from the impact of a processing technology which is freely available on the market. In the case of a new technology which is limited by patenting, its impact depends on the market position (“producing”, “next-coming”, or “not producing” project) of the patent holder. The paper contributes to existing research by studying the dependence of the expected micro- and macroeconomic impact of rare earth processing technology developments on the properties of a new technology (e.g., costs, legal framework etc.). By this means, the paper adds to existing knowledge and attempts to make the rare earths market more transparent and predictable from a perspective outside China.