矿业项目环境成本计量模型研究.docVIP

矿业项目环境成本计量模型研究 王佳男 郑明贵 梁宏波 万懿锋 徐冰 江西理工大学矿业贸易与投资研究中心 江西省矿业工程重点实验室 X 关注成功！ 加关注后您将方便地在 我的关注中得到本文献的被引频次变化的通知！ 新浪微博 腾讯微博 人人网 开心网 豆瓣网 网易微博 摘????要： 针对目前我国矿山企业高污染、难治理和矿业投资项目环境成本评估缺失、不规范的现状, 基于防护与恢复费用法, 以矿山的开发生命三周期为时间节点, 逐项分析不同阶段矿山环境成本构成因素与量化方法, 建立矿山环境成本计量模型;将环境成本货币化后纳入企业未来现金流量分析中, 改进传统DCF决策方法, 并对江西某铜硫矿进行了实例研究, 分析加入环境成本后对该项目投资决策所产生的影响。结果表明, 环境成本对项目投资决策有重大影响, 考虑环境成本后该项目财务净现值小于零, 可行性未能通过。无论是新建矿山还是技改矿山, 在规划阶段就应全面评估环境成本对项目可行性的影响, 以提升投资决策的可靠性。 关键词： 环境成本; 投资决策; 防护与恢复费用法; 计量模型; 作者简介：王佳男 (1993-) , 男, 山东省威海人, 硕士研究生, 主要从事矿业经济方面的研究。 作者简介：郑明贵 (1978-) , 男, 安徽省颍上人, 博士, 教授, 北京科技大学协作博士生导师, 研究方向为资源经济。 收稿日期：2017-09-14 基金：国家社会科学基金项目“海外矿业投资经营管理风险评估与预警系统研究” (编号:12CGL008) Measurement Model Research on Environmental Cost of Mining Project WANG Jia-nan ZHENG Ming-gui LIANG Hong-bo WAN Yi-feng XU Bing Research Center of Mining Trade Investment, Jiangxi University of Science and Technology; Key Laboratory of Mining Engineering of Jiangxi Province; Abstract： Faced with the high pollution, high degree of control difficulty and the absent and abnormal of environment cost evaluation of Chinas mining enterprises, the mining enterprises environmental costs structure and quantitative method was analyzed based on the three cycles of mine development. By establishing the econometrics model of mine environmental costs, the monetization of environmental costs was brought into the analysis of enterprise s cash flow. The improved DCF decision making method was used on a copper sulfur ore in Jiangxi Province, and the influence on investment projects decision was measured after putting into the environmental costs. The results showed that the environmental costs had enormous impact on the decision of mine projects. After consideration the environmental cost, the project s net present value of the project was less than zero, and the feasibility was not passed. Whether new-built mines or technical reconstruction mines, the influence of environmental costs should be evaluated when the mine projects w