Conceptual framework for effective management of mining operations and fuel-and-energy development in the Arctic

Boasting a vast raw material base, the Arctic zone of the Russian Federation is an environment which is extremely vulnerable to environmental pollution. To achieve a significant reduction in toxic emissions into the Arctic environment, it is necessary that the advanced technologies are in place to reduce material consumption, which, however, means higher capital investment. This prerequisite is in line with the national and regional policies, according to which the government is to stimulate the introduction of advanced technologies or to compensate, fully or in part, for overexpenditure (that some of the Russian regions may incur). In order to enhance the efficiency of managing the nation's mineral and fuel-and-energy resources and, in the first place, the resources of the Arctic, the authors have developed the technology life cycle model. Technological innovations are what reduces businesses' operating costs: the overall reduction of material consumption leads to lesser environmental load. A new type of economic analysis is suggested - investment-and-innovation analysis (retrospective and predictive analysis) - which ensures the analytical correlation between the targets of the industries' performance and those of technological innovation performance.