The International Comparison Of Investment And Financial Systems In Mineral Exploration Sector

The mineral exploration financing system is an important research topic .The mineral exploration investment and financing system comparation between Chinese and international has great significance in this research. The content of this research includes many topic ,for example, the mineral exploration investment characteristics, the size and character of the shareholder , the financial market, the model and instruments of mineral prospecting finance, the government promotion policy.Mineral exploration belong typically to the venture-capital investment in which the investment risk can been diversified through financial tools. Typically, mineral exploration funds come from government , industrial , private investors and financial investors. In these capital, financial investors is more important than others. By financial intermedia, financial capital can come from orher capital.Mineral exploration financial markets, such as securities market, mutual fund, private equity, bank credit and other sub-system are important to promote the market-oriented financial regime in mineral prospecting industry.From the global way, the financing patterns in mineral exploration areas include the securities market pattern, mutual fund and private equity pattern, joint venture agreement, debt financing , future cash flows or advanced products model, goverment promotion model. The pattern selection is based on the project's risk characteristics and the stage of the mining project. The model which has structured terms ,option agreement ,or other financial innovation will be welcomed in the future .There are two typical financing regime in global mineral exploration industry, one is western-countries regime ,which has more advanced capital-market-financing-system, the other is Japanese regime, which depends more on bank loans system. The Chinese exploration financing regime can be regard as a different model or say a multi-model. The interaction among government, financial markets, mineral exploration industry, and capital providers is of grest importanance, and the Chinese exploration financial construction will be better if we pay more attention to such questions as the international resources competition,"government" plus "market" oriential financing tools, and the government promotion policies.