Financial assessment of the costs of exploration and evaluation of natural resources: Addressing environmental inequalities through sustainable mineral exploration and evaluation practices

The relevance of the study of mineral exploration and evaluation costs is due to the growing need for sustainable and efficient methods of mineral extraction, as well as the strict regulatory requirements for reporting and financial transparency in natural resource extraction in the modern world. The purpose of this study is to optimize the accounting and reporting of mineral exploration and evaluation costs in the accounting and reporting of natural resource companies in order to improve their financial efficiency and transparency. The research investigates the costs of geological and engineering studies, reserve evaluations, and design work for process flow diagrams and infrastructure facilities. The findings highlight the importance of effective exploration in reducing risks and accurate reserve estimation in ensuring financial stability and long-term sustainability. A successful mineral exploration and evaluation project leads to asset creation and improved company performance in the context of long-term sustainability and growth. The practical significance of this study is to create a methodology and recommendations that will enable mining companies to optimize their financial processes, comply with regulatory requirements and improve sustainability and efficiency in the industry, thus contributing to better management of natural resources and reducing negative environmental impacts.