Assessing the Impact of Innovation Activity on Mining Industry Results

Plekhanov Russian University of Economics, 117997, Moscow, 36 Stremyanny lane, Russia

^* Correspondent author: oekalenov@yandex.ru

Abstract

The role of the mining industry in the world economy is enormous, since its branches are the most important source of industrial raw materials, without which the intensive growth of modern industry would be completely impossible. However, the technologies used in it are not always innovative. Despite the fact that the mining industry occupies a fairly small percentage in the structure of the world economy and does not exceed 10%, it is an important source of income for many states, including Russia. However, the changes that are now observed in the global economy require new approaches to organizing activities. Despite its profitability, this industry is quite difficult to manage. The way from the extraction of raw materials to their end user is very complicated and depends on many conditions. For the successful integration of the Russian mining industry into new economic realities, it is necessary to intensify innovative processes by investing financial resources in new equipment and high technology. At the same time, acceleration of the development of the mining industry can be achieved in the chain “mining industry - processing industry” through the introduction and use of nanotechnology, which can significantly improve the quality of raw materials.