Study On Underground Space Exploitation Project Financing Optimization In Resource-Exhausted Mining Area

How to utilize underground space in resource-exhausted mining areas is a serious problem which has limited our country's coal industry development.With implementation of the policy,which phases out the backward and redundant industrial capacities in coal industry,numbers of small and mediumsized coal mines were shut down.The development of underground space has become more serious and urgent.The most effective solution is to develop abandoned underground space such as mine,roadway and working face into oil and gas storage base,pumped storage power station and industrial tourism base.In this way,the abandon underground space can be reused and non-coal industry can be developed in resource-exhausted mining areas.In order to achieve this goal,many coal industrial enterprises in our country have tried to develop those space.However,Long-term low coal price leaded to the loss of coal enterprises.The policy of capacity removal makes this phenomenon more serious.At present,the limited funds that coal enterprises can invest in construction have caused many underground space development projects in resource-exhausted mining areas to be stopped because of the shortage of funds.Financing is becoming the biggest obstacle to the transformation and development of coal enterprises and resource-exhausted cities.In order to design a suitable financing model for underground space development projects in resource-exhausted mining areas,the following work has been done in this study.(1)Underground space development project in resource-exhausted mining area is a kind of engineering project which has received the attention of academia in recent years.What kind of project these projects belong to is still controversial.In this study,the characteristics of these projects are sorted out by an optimized Porter diamond model,and characteristics are quantitatively calculated by the graphic comprehensive evaluation method.The conclusion is that resource-exhausted mining areas should be developed as commercial projects dominated by coal enterprises is drawn.(2)In order to ensure the smooth running of underground space projects in resource-exhausted mining areas,this study deeply analyzed the stakeholders' demands and attitudes toward commercial development model.We adopt grounded theory approach and collect research materials through interview.By coding these materials,we can identify influencing factors and the relationship between influencing factors.(3)By the solution of ground theory research.We deeply analyzed the power and responsibility of stakeholders in underground space development projects in resource-exhausted mining areas.After that,through the static equilibrium analysis and Porter's value chain analysis,we constructed the financing structure of underground space development projects in resource-exhausted mining areas.(4)Combining fuzzy theory with MCDM,We have obtained three kinds of fuzzy comprehend evaluation methods,which are Fuzzy-DEMATEL?Fuzzy-ANP?Fuzzy-TOPSIS.Using these three research methods to process data,we came to a financing structure which meted requirements of all parts.(5)This paper chooses Fushun Open-pit Mine Resource Development as an empirical study,which is a major consulting project of the Chinese Academy of Engineering.Based on the resource conditions and development goals of Fushun West Open-pit Mine,the financing mode suitable for the development of underground space in West Open-pit Mine is designed.