Value evaluation of mining right based on fuzzy real options

Yang, Wei; Fang, Nan; Wang, Yaping; Long, Tao; Deng, Sha; Xue, Mengge; Deng, Bo

doi:10.1016/j.resourpol.2022.102818

Cited by 3 publications

(4 citation statements)

References 5 publications

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“…Penilaian nilai hak pertambangan adalah kebutuhan dasar dan pilihan yang tak terhindarkan untuk mewujudkan alokasi optimal sumber daya mineral dan pengembangan pasar modal pertambangan. Namun, metode teoritis yang relevan belum sempurna (Yang et al, 2022).…”

Section: Jurnalunclassified

“…Model ini tidak hanya bermanfaat bagi kegiatan pengambilan keputusan yang fleksibel, tetapi juga secara teoritis menyelesaikan kekurangan metode DCF yang ada dalam penilaian penggunaan hak pertambangan sehingga hasil penilaian lebih adil dan lebih ketat dengan operasionalitas dan aplikabilitas yang kuat. Model ini memperkaya dan mengembangkan metode teoritis untuk mengevaluasi nilai hak pertambangan (Yang et al, 2022). Metode opsi nyata dapat meningkatkan fleksibilitas pengambilan keputusan dalam penilaian nilai hak pertambangan dengan memperhitungkan karakteristik siklus pertambangan sumber daya mineral dalam jangka panjang.…”

Section: Jurnalunclassified

“…Model evaluasi nilai hak pertambangan berdasarkan opsi nyata yang fuzzy memungkinkan manajer untuk mengidentifikasi dampak dari perubahan harga aset dasar, harga pelaksanaan, dan volatilitas terhadap nilai hak pertambangan. Hal ini memungkinkan manajer untuk membuat keputusan yang lebih efektif dan meningkatkan nilai hak pertambangan dengan memperbaiki profitabilitas sumber daya mineral dan mengurangi biaya pertambangan (Yang et al, 2022).…”

Section: Jurnalunclassified

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Metode valuasi ekonomi dalam pengambilan kebijakan lingkungan di sektor pertambangan

Yuniar

2024

JEMBAR

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The mining sector is a strategic pillar of national economic development. This sector provides a multiplier effect on people's lives but also has the potential for negative impacts on the environment. Economic valuation of natural resources and the environment is needed to determine the quantitative value of the goods and services produced. The purpose of writing this paper is to analyse the comparison of the use of economic valuation methods in environmental policymaking in the mining sector. Literature studies were carried out to look for references in the form of journals that were considered relevant to the purpose of the writing. Economic valuation methods such as cost-benefit analysis (CBA), real option valuation (ROV), and net present value (NPV) are crucial in the context of policymaking in the mining sector. These three methods can be used together or separately, depending on the context and characteristics of the project. The government and mining companies in Indonesia can utilise CBA for general policies, NPV for projects with a low level of uncertainty, and ROV for projects with a high level of uncertainty. The use of appropriate methods will provide a strong foundation for sustainable decision-making and support the development of an economically, environmentally, and socially responsible mining sector.

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Section: Jurnalunclassified

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Metode valuasi ekonomi dalam pengambilan kebijakan lingkungan di sektor pertambangan

Yuniar

2024

JEMBAR

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“…Value evaluation of mining right is an important driving force to realize the optimal allocation of resources and to promote the sustainable development of the mining economy, but the relevant theoretical methods are not yet perfect. The existing Discounted Cash Flow (DCF) method has the problems of ignoring uncertainty and decision-making rigidity in the evaluation of mining right, while the real option method is a suitable management method for solving large uncertainties and improving decision-making flexibility [3]. The mining industry (MI) has played a key role in ensuring a stable supply of minerals for industrial production and human survival.…”

Section: Literature Referencesmentioning

confidence: 99%

Development trend of mining economy in China

Jia¹,

Yin²

2023

JID

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In the past long period of time, China has achieved great and rapid development by relying on mineral resources. However, this development mode is extensive. In the process of mineral resources consumption, a large number of geological disasters have been caused, such as mining subsidence, landslides, etc. In addition, the emission of carbon dioxide and other pollutants has also caused environmental harm. In September 2020, China explicitly set the goal of peaking its carbon footprint by 2030 and becoming carbon neutral by 2060. Economic development needs the support of mineral resources, but also needs to ensure that the environment is not further damaged, to achieve sustainable and high-quality development is the only way. In this context, it is necessary to discuss the future development trend of China's mining economy. Based on relevant research and theoretical analysis, some suggestions on promoting sustainable development of mining economy are put forward.

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A Real Option Pricing Decision of Construction Project under Group Bidding Environment

Liu

Zhu

2023

Applied Sciences

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The bidding price is one of the important factors for construction enterprises in winning a bid. In the context of public bidding in the construction industry, in the process of group competition, how to estimate the individual bids to calculate their maximum value and the best price to improve the winning probability has become an important issue. In this research, based on the real option theory, the concept of group bidding environment is introduced to establish a real option price decision-making model for construction projects. The function of the model covers two external competitive environments: independent and coupled. Finally, through model inspection and parameter sensitivity analysis, the model is discussed in depth, and suggestions for model application are obtained. The research results show that the rule of the model results has optimization characteristics, and the numerical solution is consistent with the analytical solution, which has a certain price guidance role. In the independent bidding environment, their optimal bidding price is inversely proportional to the volatility level and the option period, and it is directly proportional to the estimated costs but has no obvious relationship with the number of competitors. Moreover, the average sensitivity of the optimal bidding price to the estimated costs, the volatility level and the option period are 35.06%, 9.77% and 7.70%, respectively; the optimal mark-up ratio is 1.078. In the coupled bidding environment, the concentration of competitors’ prices and the optimal price will increase significantly, by about 2.37%, and the corresponding winning probability and weighted option value will increase by about 9.36% and 28.03%, respectively. The research results can provide price optimization for bidding activities with real option characteristics and improve the price winning rate, but the selection of price mode and parameter setting need to be set by enterprises according to industry characteristics and actual conditions.

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Value evaluation of mining right based on fuzzy real options

Cited by 3 publications

References 5 publications

Metode valuasi ekonomi dalam pengambilan kebijakan lingkungan di sektor pertambangan

Metode valuasi ekonomi dalam pengambilan kebijakan lingkungan di sektor pertambangan

Development trend of mining economy in China

A Real Option Pricing Decision of Construction Project under Group Bidding Environment

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