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Development of mining in the conditions of industry 4.0: new challenges and opportunities

Journal: Scientific and practical journal “Economy of Industry” (Vol.89, No. 1)

Publication Date:

Authors : ; ;

Page : 45-74

Keywords : Industry 4.0; mining industry; digital tools; fiscal regulation; financing; smart specialization;

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This paper substantiates the selection of the most effective new economic and organizational tools, approaches and methods for national enterprises and regions of the mining industry that the Fourth industrial revolution offers. To this end, the role of the mining industry in the world in new conditions, its significance for Ukrainian economy and regions, areas, specializing in this field, are identified.A set of measures, which are based on the analysis of digital tools used by mining enterprises of the world, as well as on the study of the experience of applying advanced approaches and methods, have been offered for the development of the Ukrainian mining industry in conditions of the Fourth industrial revolution. This complex consists of proposals for enterprises of a technological and organizational feature, suggestions for government authorities, including of fiscal and monetary measures, and proposals for smart specialization in the Dnipropetrovsk region.It was defined that the most effective technologies for national enterprises are disruptive ones that ensure the creation of new equipment components and mechanisms, their smart technical maintenance, optimization of production process control, monitoring of health status and quality of safety.At the level of state authorities, it is advisable to introduce tax investment incentives, use traditional and alternative sources of financing, adhere federalism principles with respect tonatural resources and fiscal decentralization, improve relations between mining enterprises and local jurisdictions using the capabilities of social ratings.At the regional level, it is proposed to build a regional industrial policy, based on conceptual foundations of smart specialization with the creation of a favourable market environment in the region through the use of soft fiscal and financial regulation tools, governmental R&D programs, and enabling conditions for the innovative development of the mining sector of the economy and its integration with other sectors.

Last modified: 2020-04-11 15:34:21