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Journal section "Sustainable development of territories, branches, and production complexes"

The Importance of Non-Ferrous Metallurgy for the Socio-Economic Development of Russia and Its Regions

Malyshev M.K.

Volume 26, Issue 6, 2022

Malyshev M.K. (2022). The importance of non-ferrous metallurgy for the socio-economic development of Russia and its regions. Problems of Territory's Development, 26 (6), 29–43. DOI: 10.15838/ptd.2022.6.122.2

DOI: 10.15838/ptd.2022.6.122.2

Abstract   |   Authors   |   References
Sustainable socio-economic development of territories and local communities, in addition to the efforts of regional and local authorities, largely depends on the level of social responsibility and investments of large private businesses, their tax contributions to the budget system of both the region of presence and the country as a whole. The article examines the importance of the non-ferrous metallurgy industry for the Russian Federation and its regions. We present socially oriented events of large non-ferrous metallurgy corporations, participation of corporations in the construction of infrastructure facilities. We have determined that higher wages in the industry relative to other types of activities have led to the fact that the average size of nominal accrued wages in the Irkutsk Oblast and Krasnoyarsk Krai is higher than the average in Russia. The research object is the largest holdings of non-ferrous metallurgy: Nornickel, based in Krasnoyarsk Krai, and Rusal with key production assets in the Irkutsk Oblast. The choice of the research object is due to the large scale of production and financial results of these companies. At the end of 2021, the consolidated proceeds of Nornickel amounted to 1.3 trillion rubles, Rusal – 0.9 trillion rubles, which distinguishes these holdings from other non-ferrous metallurgy corporations with more modest financial results. The information base of the research is the works of Russian and foreign authors on the industry, the official annual reports of Nornickel and Rusal, the Strategy for the Development of the Metallurgical Industry of the Russian Federation through to 2035, Rosstat data for Krasnoyarsk Krai and the Irkutsk Oblast. The materials of the article can be useful to everyone, who interested in industry and corporate economics, as well as students, graduate students and teachers

Keywords

sustainable development, corporate social responsibility, socio-economic development of territories, non-ferrous metallurgy, industrial economy

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