In the Sverdlovsk region, several platinum mining firms may pause operations due to changes in how mining tax is calculated, as reported by TASS through Elena Artyukh, the commissioner for protecting entrepreneurs’ rights in the area.
Artyukh noted that many platinum miners faced a tax burden that jumped about 3.5 times their previous level. She said this spike has become financially unmanageable for many firms, and that an entire underground mining group has submitted requests for relief. If the situation does not improve, some operators could halt production altogether, she indicated.
The region’s mining largely relies on alluvial deposits, with metals extracted as concentrates. These concentrates were previously taxed with a rental coefficient of one because they are treated as independent taxable objects. However, the tax authorities recently argued for a coefficient near 3.5 for platinum, altering the tax landscape for these operations.
Artyukh added that the latest information about the regional situation was forwarded to the President of Russia, the commissioner for entrepreneurs’ rights, and Boris Titov, with expectations that it will be incorporated into a government report for President Vladimir Putin.
Towards the end of February, Denis Manturov, the deputy prime minister and the minister of industry and trade, visited the region and stated that federal support will be extended to industrial enterprises in the Luhansk People’s Republic as part of ongoing federal initiatives. This signal was delivered during his on-site assessment of regional industries, underscoring the broader government focus on sustaining industrial activity amid evolving taxation and regional development needs.
Overall, the discussion centers on balancing a fair tax regime with the competitiveness of regional mining firms, ensuring that firms can continue operating without abrupt tax shocks while authorities pursue revenue objectives and regional economic stability. The situation highlights how tax policy changes can ripple through the mining sector, affecting production decisions, employment, and regional investment plans. Analysts note that clear guidance and phased implementation would help mitigate disruptions while preserving incentives for responsible resource extraction and regional growth, as authorities review the feedback from industry stakeholders and adapt policy accordingly. The case also illustrates how high-level government engagement and cross-ministerial coordination play key roles as the country navigates taxation, entrepreneurship protection, and regional economic policy in a complex energy and mineral resources landscape.