BRICS: Trends in Economic Growth of Extractive Industry in the XXI Century

Abstract

In 2019, the BRICS Association celebrates its anniversary - it is ten years since the first BRICS summit, at which the BRICS group was created. Currently, the extractive industry in BRICS countries plays a strategic role. The purpose of the article is to characterize the economic growth in the extractive industry of the BRICS countries on the example of oil, gas, coal, iron ore, and gold mining. The article for the first time provides a comparative analysis of the BRICS countries of the dynamics, structure, and results of the development of the resource base since the beginning of the XXI century.
Based on statistical data, the author studied the balances of  production, export, import, consumption of fuel and energy resources and resources of the mining industry. The article highlights the main problems that Brazil, Russia, India, China, South Africa  faced at the beginning of the XXI century in the mining industry. It is concluded that the primary development goals of the BRICS mining industry are to increase labor productivity, reduce manual labor, increase labor security, improve the environmental situation in the areas of resource extraction. At the same time, the implementation of these goals is impossible without an innovative modernization of the extractive industry.