Research On Risk Assessment And Real Option Of Overseas Mineral Resources Project Investment

The complicated risk factors in overseas mineral resources project investmentresulted in the very high ratio of losses and failure in mineral resources projectsinvested by Chinese companies.Strengthening the risk evaluation in overseas mineralresources project investment, identifying and assessing various kinds of risk factors inoverseas mineral resources project investment, and taking effective measures torespond and control risk impact is crucial to ensure assets security and investmentreturns of overseas mineral resources projects. In this dissertation, the main researchresults as follows:From the perspective of Benchmarking Management, by analyzing investmentcases of overseas mineral resources projects in global leading large mining companiesand studying successful experience of risk control and risk management of globalleading large mining companies, this paper put forward proposals about risk controland risk management of overseas mineral resources projects invested by Chinesecompanies.The careful choice of locations of overseas mineral resources projects is the keyfactor in risk control and risk management of overseas mineral resources projects.Taking nickel resources project as an example, from the global distribution of nickelresources, the control of nickel resources, the distribution of nickel resourcesexploration projects around the world, and the mining investment environment, thispaper analyzed and studied the choice of locations of overseas mineral resourcesprojects.On the basis of studying design methods, building methods, and constructionprinciple, using analytic hierarchy process and comprehensive design methods, fromthe perspective of concrete operation in risk assessment and risk control by companies,this paper constructed the indicator system of risk assessment in overseas mineralresources projects, and applyed the indicator system to carry on the comprehensiverisk assessment on copper project c.According to the characteristics of mineral resources investment projects, this paper defined the concept, the connotation, types and characteristics of real option ofmineral resources investment projects. On the basis of studying appraising methods ofreal option, by analyzing influence factors of real option value of mineral resourcesinvestment projects, this paper constructed and deduced the real option valueevaluation model of mineral resources investment projects, and applied the model toevaluate the risk value of copper project c.This study improved the traditional methods of risk assessment and risk valueevaluation in overseas mineral resources projects investment, provided a newperspective and method， and can provide some reference and help for Chinesecompanies in overseas mineral resources projects investment.