Value Assessment Of Mining Right Based On The Real Option

Mineral resources as one of the important components of natural resources is the material basis for the development of national economy.However,the present situation of mineral source in China is not optimistic,low utilization rate of mineral resources,resource depletion environmental pollution problems and other problems gradually appear.To solve this problem and realize the sustainable development of mineral resources,so as to realize the sustainable development of human society,we need to rely on the correct assessment of the mining right value.Only by correctly evaluating the value of mining rights can we gradually standardize the mining rights market,protect the interests of the owner of mining rights,and then promote the development of China's economy.Since the late start of China's mining right evaluation market,there is a certain gap between the theory and methods of the research and the western developed countries,the theoretical foundation is not solid.At the same time,the traditional evaluation methods often ignore the "flexibility" of the value of mining rights,and the evaluation results are lack of accuracy.Based on the above reasons,this paper introduces a new method--the real option method to evaluate the value of mining rights,and puts forward some reasonable suggestions on the choice of the evaluation methods of mining rights in China.This essay consists of five chapters which starting with the background and significance of the research on the evaluation of mining rights.Then expounding the necessity of the research on the evaluation of mining rights and the present research situation at home and abroad.Finally,it briefly explains the general outline of the thesis,and points out the main research contents and research methods of the paper.Next the paper expounds the related concepts from the two aspects of the evaluation of mining rights value and the real option method,which lays the foundation for the use of the real option method to assess the value of mining rights.Then the article focuses on the real option pricing model and introduce the evaluation case,such as the A coal mine.As well using the two kinds of mining right evaluation method to evaluate the A coal mine respectively and comparing the results of two evaluation methods.Finally,the paper gives some reasonable suggestions on the choice of the evaluation methods of mining rights in China.