Research On The Main Parameters In The Mining Right Appraisal

The mineral resource right has been constructed in the Mineral Law in 1986, but the acknowledgement on the right of mineral resource has not been accepted widely. Until the property feature has been established in the Mineral Resource Law updated in 1996. In the market-directed economy and along with the perfecting of the mining right system, it is shown that the mining right evaluation is more and more important. The selection of parameters, especially the price and the discount rate, is pivotal in practice of the mining right evaluation. The correct method how to select the parameters will make the evaluation result more accurate, more justices and more objective.After having appraised more than ten projects of appraisal, I think that the selection of price is important and it will influent the evaluation result directly. In the process of selection, the price of the previous ten years must be analyzed at first. Then excluding the highest and lowest prices, because they may be influenced by the special condition. Figuring out the expectant amount at last and the amount will be use to appraisal.The selection of discount rate includes three steps. The first step is to draw the project' s risk from the discount rate and use a new coefficient-risk adjust coefficient to express the project' s risk. The second use the coefficient to adjust the net cash flow. The third, discountthe net cash flow, which was already adjusted, by the normal discount rate. One practical valuation example is used for testing the methods put forward in the dissertation and the result shows that the new method is more reasonable.