Abstract:
In order to thoroughly implement the concept of ecological civilization construction, the Chinese government has issued a series of policies to remove mining rights from nature reserves.The current method for assessing the compensation of mining rights withdrawal is mainly the application of the discounted cash flow method(DCF method).Due to the defects of the DCF method and the need of the negotiation process for compensating mining rights withdrawal, this paper proposes the compensation range of mining rights withdrawal.Among them, the upper limit of the compensation scope is calculated by the real option method, and the lower limit of the compensation scope is calculated by the hedging ratio and the net present value method.In addition, in order to reduce the funding pressure on local governments, this paper studies the indirect compensation scheme and proposes the scheme by compensation securitization.This paper expects to promote the smooth implementation of mining rights withdrawal by proposing the two methods mentioned above.