Венчурные инвестиции в «юниорные» компании горнодобывающей отрасли

Банковские услуги. 2025. № 2. С. 22–34.

Soldatova A., Stolyarov A. I.

The mining sector plays a key role in the global industry, providing resources to various sectors of the economy and production. As already explored mineral deposits are exhausted, companies specializing in the exploration of new deposits will play an increasingly important role. In developed countries, most new deposits are developed by small ("junior") companies. To start geological work, "junior" companies require initial investments, but obtaining bank financing for the exploration of new deposits is complicated due to the high level of risk in such projects. Exchange and other financial instruments are widely used in world practice, venture funds actively invest in high-risk projects. As an alternative, a participation system can be used as a form of control over a "junior" by investing in shares and authorized capital. It is possible to use public-private partnerships using, among other things, the mechanism of concession agreements. Funding can also be raised through crowdfunding through various investment platforms. To understand the feasibility of investing in this "geological venture", it is necessary to assess their value, which is complicated due to the specifics of the activity and increased risks. This article systematizes foreign experience in assessing "junior" companies, analyzes their pricing factors, draws conclusions about existing problems in Russian business practice, and formulates recommendations for their solution.

Keywords: венчурные фонды, инвестиции в геологоразведку, crowdfunding, краудфандинг, juniors, investments in geological exploration, venture funds, geological venture, юниоры, геологический венчур