Solving problems of mining and processing plants of curve horn by using the economic mechanism

Лисевич, Сергій Григорович and Лысевич, Сергей Григорьевич and Lysevitch, Sergey (2019) Solving problems of mining and processing plants of curve horn by using the economic mechanism. Міжнародний науковий журнал «Інтернаука». (8(28)). pp. 17-22.

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Abstract

Krivoy Rog mining and processing plants provide Ukrainian metallurgical plants with iron ore products. Apart from that, they export their products abroad. Having analyzed the available studies, it was concluded that mining and process- ing plants of Krivoy Rog have the following problems: a low quality of products compared to foreign producers; high prime cost; a negative environmental impact; high tear and wear of equipment; large labour movement; a low level of social responsibility; low motivation of staff; outstripping of mining; a high ratio of fuel and power resources in prime cost of products, etc. These and other problems of mining and processing plants of Krivoy Rog were considered by the scientists separately not as a whole. The establishing a complex system of problems of the plants under investigation enabled figuring out the keys to the solution of these problems, such as introduction of new engineering solutions, new technology, increase of labour organization, productivity and management, as well as increase of social responsibility and better socio- psychological climate at companies. The greater part of problems of Krivoy Rog mining and processing plants can be solved via their managerial mechanisms being a combina- tion of forms, methods and leverages, property relations and current economic laws targeted at productive power of companies. Managerial mechanism of mining and processing plants comprise corporate, economic, administrative, socio- psychological, and law mechanisms. Considerable financial investments in technology, equipment, production and labour and management organi- zation are required to solve the problems of mining and processing plants. It is suggested to reallocate financial resources in ret- rofitting and upgrading instead of dividend payment as mining and processing plants earned high profitability in 2017–2018. This will allow solving the most urgent development problems of Krivoy Rog mining and processing plants using all the components of managerial mechanism. Further studies are related to establishing the influence of the economic mechanism on achieving the goals stipulated in the strategies of mining and processing enterprises.

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