© The Authors, published by EDP Sciences, 2020. The objectives of this paper is to investigate internal and external factors influencing the gold mining in Russian Far East. Justification of the methodological and practical recommendations as well as effective strategies which in full measure correspond to the range of economic and technical factors aimed to increase the effectiveness of gold mining industry in Russia are presented. In this paper, we analysed the current state and main development trends, identified strengths and weaknesses of the internal environment, as well as opportunities and threats of the external environment for the gold mining enterprises based on SWOT analysis. Based on the analysis identified directions of production strategies improvements, sound strategic response and strategic management mechanisms to mitigate the challenges of current times. Their implementation will allow companies using the strengths to reduce the negative impact of weaknesses and prevent key threats, that will significantly increase the competitiveness and economic efficiency of the Russian gold mining industry.