INSTITUCIONALNE I EKONOMSKE PROMENE I RUDNA RENTA

Abstract

The rent on mineral resources (oil, ores, gas, minerals) represents the economic realisation of the monopoly of private ownership over natural resources within specific socio-economic frameworks. Mining rent is a narrower concept and refers to the exploitation of metal ores (copper, gold, lead). The capital and labour invested in the exploration and exploitation of mineral deposits bring extra profit and a part of that profit, transformed into mining rent, is appropriated by the owner of the mineral deposit as a limited natural resource, which is most often the state. The economic effects of changes in ownership over mines and other mineral resources after the Second World War vary from country to country. Within the theoretical concept of the “social order,” there are two institutional frameworks for mineral-exporting countries: natural states and open-access orders. The growth of mining rents is not contrary to the principles of sustainable economic development. It is necessary to ensure efficient management of mining rents and their adequate redistribution towards sustainable incentives, alongside the practice of socially responsible behaviour by companies, the state, and the civil sector. The Law on Mining and Geological Exploration of the Republic of Serbia foresees the fundamental mineral policy and development plan for geological exploration, implemented through the Strategy for the Management of Mineral and Other Geological Resources of the Republic of Serbia. Particular caution is required in relation to foreign direct investment within the framework of this Strategy, as it may have a negative impact on the sustainable development index and the equitable distribution of rents.