Economics and management of enterprises

Assessment of metallurgical enterprises’ activities in Kazakhstan in the context of international trends

Economic Annals-XXI

Economic Annals-ХХI: Volume 187, Issue 1-2, Pages: 121-130

Citation information:
Aubakirova, G., Rudko, G., & Isataeva, F. (2021). Assessment of metallurgical enterprises activities in Kazakhstan in the context of international trends. Economic Annals-XXI, 187(1-2), 121-130. doi: https://doi.org/10.21003/ea.V187-12

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Gulnara Aubakirova
D.Sc. (Economy),
Professor,
Karaganda Technical University
11 Nazarbayev Ave., Karaganda, 100008, Republic of Kazakhstan
rendykar@gmail.com
ORCID ID: https://orcid.org/0000-0003-0337-1539

Georgiy Rudko
D.Sc. (Geology and Mineralogy),
D.Sc. (Geography),
D.Sc. (Technical Sciences),
Professor, Chairman,
State Commission of Ukraine for Mineral Resources
18/7 Kutuzov Str., Kyiv, 01133, Ukraine
rudko@dkz.gov.ua
ORCID ID: https://orcid.org/0000-0001-7752-4310

Farida Isataeva
PhD (Geology),
Karaganda Technical University
Ermekova 106/4 Str., Karaganda, 100009, Republic of Kazakhstan
isataeva.farida@gmail.com
ORCID ID: https://orcid.org/0000-0001-6208-3292

Abstract. The geological industry of Kazakhstan is transiting to CRIRSCO, the international system of reporting standards for mineral reserves. In view of the set tasks, the problem of adjusting the geological and economic assessment of deposits is being updated in order to adapt it to the international requirements and to increase accessibility and transparency for a potential external investor. This research has been carried out on the basis of the Kazakhmys Corporation LLС, the largest international company engaged in exploring, mining and processing of various minerals. The authors of this paper have made an attempt to expand the geological and economic assessment of the enterprise by digitizing the key business processes. On the basis of the formed factual database of the geological and economic indicators and characteristics of the stratiform pyrite-copper-lead-zinc deposit Kusmuryn, which is part of the Kazakhmys Corporation LLС, the economic indicators of extracting associated components have been calculated.

Digital transformation is a key area of technological development of the mining industry in Kazakhstan for the coming years. In this regard, automation of calculating the geological and economic assessment of the investigated field will allow the company not only to reduce investment and operating costs, but also to deepen the internal analytical work to monitor the effectiveness of the applied digital solutions. Transformation of the economy of Kazakhstan presupposes state support for promising regions. The article shows that transition of the Kusmuryn deposit to underground mining in the medium term will accelerate the solution of pressing regional problems and remove social tension in the monotowns adjacent to the deposit. In order to strengthen its position in the global economy, Kazakhstan strives to achieve socio-economic goals in the field of sustainable development. It has been established that changing the method of production and automation of business processes of the Kazakhmys Corporation LLС will have a positive effect on the energy efficiency due to more rational use of available technologies. The research will improve the validity of predictive management decisions to strengthen the financial and economic situation and the international positions of the mining and smelting enterprise.

Keywords: Kazakhstan; CRIRSCO Codes; Digitizing; Deposit; Geological Economic Assessment

JEL Classifications: L53; O14; O25

Acknowledgments and Funding: The authors received no direct funding for this research.

Contribution: The authors contributed equally to this work.

Data Availability Statement: The dataset is available from the authors upon request.

DOI: https://doi.org/10.21003/ea.V187-12

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Received 11.11.2020
Received in revised form 28.12.2020
Accepted 29.12.2020
Available online 28.02.2021

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