Mineral Resources Capitalization Issues Research Under The View Of Elements Distribution Theory

Combining elements distribution theory to study the mineral resources in thereal life implementation issues, has both theoretical significance and practicalsignificance. On the basis of that mineral resources as a production factor, to analyzethe revenues of the ownership of mineral resources should be conducive tomaintaining the mineral resources ownership rights, at the same time can promote theprice of mineral resources to achieve balanced and reasonable allocation of mineralresources, comprehensive utilization and recycling. According to production factorscontribution to participate in the distribution is on the basis of the socially necessarylabor create value, according to the various factors of production in the value form tocontribute. Market economy requires the commercialization of production factors, inthe form of goods in the market through market transactions, implementation flow andconfiguration, so as to form various kinds of production factors market.This paper, on the basis of reading at home and abroad related research, first ofall interpreted elements distribution theory, the theory of asset securitization and thereal option theory, analyzed the problems of mineral resources capitalization, specificissues including that mining right pricing is not reasonable, mineral resourcescapitalization method is not perfect, the mining right set and mining right markettrading mechanism are not sound, mining right trade laws and regulations are notsound. Then based on elements distribution theory, using beyond logarithmicproduction function model specifically analyzed contribution rate of coal resources inEnterprise gross, obtained results that in Hebei province55large-scale coalenterprises in2010, Hebei province42large-scale coal enterprises in2011and Hebeiprovince46large-scale coal enterprises in2012, the average contribution rate of thecoal resources in years’gross is48.3%, far more than contribution rate of capital,labor, technology, other elements. Pointed that capitalization of mineral resources isurgently needed, to safeguard the ownership of mining rights and interests. Andthrough concrete case illustrates that the real option pricing method differs fromtraditional discounted cash flow method. Given the mining right value’volatility,uncertainty, and other characteristics, application of real option pricing method canmore accurately assess the value of mining rights. Finally to improve capitalization ofmineral resources in China has put forward the corresponding countermeasures,including the application of real option pricing method for assessing the value ofmining rights, improving the mode of capitalization of mineral resources, optimize settings for mining rights, improving mining right trade market and make laws andregulations of mining right trade more sound.