收益法在矿权评估中的应用--以国外某大型锆钛矿为例

摘要

Taking a large-scaled titanium-zirconium mine abroad as an example, introduced income approach ap⁃plied essentials of assessment object, precondition and scope. On this basis selected parameters of annual mine pro⁃duction scale, service life, taxation, discount coefficient etc., finally provided assessed result in list form. Compared with cost approach, the result of income approach thought over factors of discount coefficient, taxation, investment and financing risks etc., thus more close to market and higher creditability. Compared with market approach, since no issues of difference between reference objects, time lagging etc., thus more true and reliable with better reference significance. On the whole, income approach is an assessment method can mostly protect benefit of both investor and mining right owner, can mostly reflect true market value.%以国外某大型锆钛矿为例，介绍了收益法运用的评估对象、前提、范围等要素，在此基础上选取了矿山年生产规模、服务年限、税收、折现系数等参数，最终以表格的形式给出了评估结果，该方法所得结果与成本法相比增加了折现系数、税率、投融资风险等因素的考虑，因此更加贴近市场，可信性更高；与市场法相比较，由于不存在与参照物的差异性、时滞性等问题，所以更加真实可靠，具有更好的参考性。总体来说，收益法是市场经济下，最能保障投资人和矿权所有者双方的利益，最真实反应矿业权真实市场价值的评估方法。