Increasing the efficiency of Russian uranium mining enterprises in conditions of excessive supply

¹ Department of Economics, Accounting and Finance, Saint Petersburg Mining University, St. Petersburg, Russia
² Center for Digital Technologies, Saint Petersburg Mining University, St. Petersburg, Russia

Abstract

The article describes the current situation in the global uranium concentrate market, explains the reasons for the formation of an excess amount of finished goods and the subsequent decreasein prices. The authorsevaluated the prospects of using market mechanisms to improve the financial results of Russian uranium mining enterprises. The location of the main mining centers in comparison with the centers of consumption of finished goods, pricing for the products of uranium mining companies, the dynamics of price changes over the past 20 years, the influence of non-market factors on the supply of finished products are analyzed.This study led to the conclusion that the expectation of changes in the market situation is not viable in a long term. The authors outlined the direction to improve the profitability of mining enterprises by introducing technological changes aimed at reducing the cost of the final product.