Peculiarities of Applying the Public-private Partnership Technique in Exploration of Natural Resources
Svetlana Ageyeva
Institute of Economics and Industrial Engineering, Russian Academy of Sciences, Siberian Branch, Novosibirsk
Keywords: regions of natural resources exploration, public-private partnership, mineral resources sector, Investment fund of the Russian Federation, infrastructure bonds
Abstract
The paper examines the ways of how to apply the public-private partnership technique (PPP) in exploration of Siberian natural resources. We summarize the successful PPP projects carried out in populated regions in Russia and analyze possibilities to expand the method in order to create non-productive and infra-structural objects in mineral resources sector. The article shows main risks arising while exploring natural resources using the PPP technique. We conclude that it is necessary to preserve the uniqueness principle for a project in the sphere of mineral resources exploration, as well as the uniqueness principle when drafting the PPP documents. It is shown that due to violation of the basic PPP principles (such as competitiveness when choosing a partner, transparency in project implementation, accessibility of information on whether project implementation is efficient), it is impossible to improve the efficiency of government expenditure in mineral resources sector.
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