Ken Too Design and Research Center, Bishkek, Kyrgyzstan:

B. K. Kozhogulov, Executive Officer, Candidate of Economic Sciences, bamb25@yandex.ru

Kyrgyzstan possesses huge mineral wealth but spends the resource potential drastically ineffectively. The reasons are, in particular, under-appraisal of natural reserves and inappreciation of the environment and health damage. This article analyzes prospects of different branches of industry in the Kyrgyz Republic such as mining of iron ore, tin, coal, nepheline syenite and silicium as well as stone quarrying and dressing. The high level of geological exploration of the Kyrgyzstan territory and the numerosity of explored mineral deposits entered on the state balance register enable forecasting advance in the mining industry and evaluating feasible contribution in the national economy. The mining industry development forecasting uses economic modeling of promising industrial branches in the Republic. The cost estimation of subsoil use subjects is based on distinct assumptions on capital costs and current charges, production sales level, prices and project time framework. The evidence of financial modeling of mineral mining shows that the mining industry can have deep influence on positive dynamics in the national economy and on long-term sustainable development of the country.

1. Barkan M. Sh., Berezovskiy P. V. Metodologicheskie problemy otsenki inve stitsiy v prirodookhrannuyu deyatelnost promyshlennogo predpriyatiya (Methodological problems of investment assessment in industrial enterprise’s natural protecting activity). Nauchnyy vestnik Moskovskogo Gosudarstvennogo Gornogo Universiteta = Scientific Bulletin of Moscow State Mining University. 2012. No. 3(24). pp. 3–11.

2. Kondrashova A. R. Dostoinstva i nedostatki metodov ekonomicheskoy otsenki investitsiy (Advantages and disadvantages of methods of economical assessment of investments). Molodoy uchenyy = Young scientist. 2014. No. 7. pp. 351–354.
3. Stepochkina E. A. Ekonomicheskaya otsenka investitsiy : uchebnoe posobie (Economic assessment of investments : tutorial). Moscow : Direct-Media, 2014. 366 p.
4. Krylov S. A., Lobov N. M. Stoimostnaya otsenka uchastkov nedr s zapasami i resursami poleznykh iskopaemykh: zarubezhnyy opyt (Assessment of the subsoil sites with mineral reserves and resources: foreign experience). Mineralnye resursy Rossii. Ekonomika i upravlenie = Mineral Resources of Russia. Economics and Management. 2003. No. 3. pp. 27–32.
5. Kuvaldin D. A., Ivanov A. S. Stoimostnaya otsenka — effektivnyy instrument povysheniya otdachi mineralno-syrevogo kompleksa (Assessment as an efficient instrument of increasing the mineral-resource complex efficiency). Vestnik Rossiyskoy akademii estestvennykh nauk = Bulletin of the Russian Academy of Natural Sciences. 2002. Vol. 2, No. 1. pp. 33–39.
6. DeMont G. J. Economic evaluation of the mineral resources of Cape Breton Island. Mineral Resources Branch Report of Activities 2012. Nova Scotia Department of Natural Resources, Report ME 2013-001. 2014. pp. 3–4.
7. Stermole F. J., Stermole J. M. Economic Evaluation and Investment Decision Methods. The course textbook. 14^th Edition. 2014.
8. Rubtzov V. A., Gabdrakhmanov N. K., Mustafin M. R., Pratchenko O. V., Ukpere W. I. Methodological issues of monetary valuation of natural resources. Environmental Economics. 2015. Vol. 6, Iss. 4. pp. 84–87.
9. The Uniform Standards of Professional Appraisal Practice. Еdition Appraisal Standard Board of the Appraisal Foundation. Washington, DC, 2002. 173 p.
10. Grynspan R. The role of natural resources in promoting sustainable development. 2012. Available at: http://www.undp.org/content/undp/en/home/presscenter/speeches/2012/09/28/rebeca-grynspan-the-role-of-natural-resources-inpromoting-sustainable-development-.html (accessed: June 20, 2016).
11. Kozhogulov B. K. Ekonomicheskiy potentsial zolotodobyvayushchey promyshlennosti Kyrgyzskoy Respubliki: sostoyanie i perspektivy razvitiya (Economic potential of gold mining industry of Kyrgyz Republic: state and development prospects). Sovremennye problemy mekhaniki sploshnykh sred (Modern problems of continua mechanics). Bishkek, 2011. Iss. 14. pp. 36–49.
12. Umetov E. Budushchee ekonomiki Kyrgyzstana kroetsya v kyrgyzskikh gorakh (The future of Kyrgyzstan economics is hidden in Kyrgyz mountains). Bishkek, 2001. 38 p.
13. Kozhogulov B. K., Kozhogulova A. Zh. Ekonomicheskie voprosy razvitiya ugledobyvayushchey otrasli Kyrgyzskoy Respubliki (Economic issues of development of coal mining industry of Kyrgyz Republic). Vestnik Kyrgyzskogo gosudarstvennogo universiteta stroitelstva, transporta i arkhitektury imeni N. Isanova = Herald of Kyrgyz State University of Construction, Transport and Architecture named after N. Isanov. 2015. No. 3(49).
14. Kozhogulov B. K. Prognoz razvitiya dobychi i obrabotki prirodnogo kamnya v Kyrgyzskoy Respublike (Forecast of development of mining and dressing of natural stone in Kyrgyz Republic). Izvestiya Kyrgyzskogo Gosudarstvennogo Tekhnicheskogo Universiteta imeni I. Razzakova = Bulletin of Kyrgyz State Technical University named after I. Razzakov. 2014. No. 33. pp. 266–268.