About the author: Liu Guoren, former deputy director, researcher and mineral reserve appraiser of the State-owned Assets Research Center of the Ministry of Finance.
On February 6, 2007, the Ministry of Land and Resources issued the Provisions on the Compilation of Verification Report of Solid Mineral Resources (No.26 [2007] of the Ministry of Land and Resources) (hereinafter referred to as the "Regulations"), which made clear provisions on the compilation of verification report of resource reserves. In order to better understand and grasp the specific requirements in the Regulations, this paper puts forward some personal opinions on the compilation of "Study on the Economic Significance of Mineral Deposit Development" for the reference of the personnel who compile the verification report.
1 Purpose and significance of compiling verification report
The "Regulations" clearly stipulates the scope of application of mineral resources reserves verification. "Because of the establishment, alteration, (transfer) of mining rights or the division, merger and reorganization of mining enterprises, it is necessary to divide or merge mineral resources reserves, or because of the industrial use of minerals or the change of industrial indicators of mineral deposits, the overlap of engineering construction projects, etc., it is necessary to re-estimate or settle (leave, disable and cover) mineral resources reserves. This provision is made because the country, as the owner of mineral resources, must grasp the actual situation of national wealth, especially with the reform and development, it must make a reasonable judgment on the degree of protection of mineral resources, thus providing a basis for formulating mineral resources planning, development strategy, management, protection and rational utilization, and thus raising the administrative function and management level of national mineral resources management to a new level. Therefore, the mining right holder has the obligation and responsibility to provide the owner with the true and accurate actual situation that the mineral resources reserves occupied within the scope of property rights have changed due to the change of property rights, and prepare various verification reports on mineral resources reserves.
1. 1 Compiling verification report is an objective requirement of national management.
Since the founding of New China, in order to manage mineral resources and master the quantity, quality and changes of mineral resources, the state needs to compile a national mineral reserves table every five years, and the last round was 1999. In the latest round, I only saw the "Table of Mineral Resources Reserves in Heilongjiang Province in 2005". Under the original management system of mineral resources, the Bureau of Geology and Mineral Resources of the former Ministry of Geology and Mineral Resources (Museum) was responsible for compiling various rounds of national mineral reserves tables, and the information offices of the Bureau of Geology and Mineral Resources of all provinces, autonomous regions and municipalities were responsible for compiling various rounds of mineral reserves balance tables and reporting them to the National Geological Archives. Geological and mineral exploration units of geological and mineral systems and mining departments (metallurgy, nonferrous metals, coal, chemicals, non-metallic building materials, radioactive minerals, etc.). Must be in accordance with the relevant provisions, have the responsibility and obligation to submit the annual exploration results to the geological data office of the province, autonomous region or municipality directly under the central government, and submit the exploration geological report of each exploration project; Mines in various industrial sectors must submit annual reports on the mineral resources reserves consumed and increased by mine production and the upgrading and changes of reserves, so as to provide a basis for compiling the balance sheet of mineral reserves in each round. As the statutory duty of mineral resources managers, the reserve balance table compiled by the whole country and all provinces, autonomous regions and municipalities has the corresponding legal effect.
In order to strengthen the management of mineral resources, the Ministry of Land and Resources issued Order No.23 in 2003, promulgating the Measures for the Administration of Mineral Resources Registration and Statistics, requiring that "those who engage in mineral resources exploration, exploitation or engineering construction in People's Republic of China (PRC) and other sea areas under their jurisdiction shall register and count mineral resources in accordance with the provisions of these Measures." "Registration" refers to the activities of the administrative departments of land and resources of the people's governments at or above the county level to register the types, quantity, quality characteristics, origin and other related information of mineral resources reserves, and refers to the activities of the administrative departments of land and resources of the people's governments at or above the county level to make statistics on the changes of mineral resources reserves and their development and utilization, which is the basis for planning, management, protection and rational utilization of mineral resources. Before the registration and statistics of mineral resources reserves, the geological exploration report or verification report of mineral resources reserves must be compiled, and the registration and statistics shall be carried out after the evaluation (review) by the mineral resources reserves evaluation institution. The implementation of the "Management Measures" marks that the management of mineral resources is more standardized and scientific. "The registered mineral resources reserves have legal rights and effects, and no unit or individual may change them without legal procedures such as change registration."
1.2 Compiling a capital verification report is the need to standardize the market economic order.
Since the reform and opening up, China's mining industry has made unprecedented development. However, the traditional resource management system lacks effective comprehensive management of the utilization and protection of state-owned resources, denies the economic value of resources, fails to bring them into the national economic accounting system, and builds economic development on the basis of "inexhaustible" free occupation of natural resources. State ownership can not be maintained, and owners' rights and interests can not be realized economically, which seriously weakens the resource base and destroys the optimal allocation of resources. Therefore, at the end of the 20th century, after nearly 20 times of mining order rectification, although it achieved results, it still failed to achieve a fundamental improvement. In 2005, the State Council issued the Notice of the State Council on Comprehensively Rectifying and Standardizing the Order of Mineral Resources Development (Guo Fa [2005] No.28). While rectifying and standardizing the order of mineral resources development, it also carried out the integration work focusing on important minerals such as coal. On September 30, 2006, the Reply of the State Council on Agreeing to Deepen the Reform of the System of Paid Use of Coal Resources (Guo Han [2006] 102) was issued, and then on February 30, 2006, the General Office of the State Council forwarded the opinions and notices of the Ministry of Land and Resources and other departments on the integration of mineral resources development (Guo Ban Fa [2006]) was issued. The notice requires: "Guided by the important thoughts of Deng Xiaoping Theory and Theory of Three Represents, comprehensively implement the Scientific Outlook on Development, comprehensively use economic, legal and necessary administrative means, combine the needs of industrial policy and industrial structure adjustment, meet the requirements of sustainable development of mining industry, reorganize the mineral resources legally mined by mining enterprises and the production factors of mining enterprises through acquisition, equity participation and merger, and gradually form a new pattern of mine development with large mining groups as the main body and coordinated development of large, medium and small mines to realize resource optimization. "I am convinced that the comprehensive rectification and standardization of mineral resources development by the state is conducive to effectively controlling the chaotic situation in the mining industry from the source, realizing the large-scale and intensive development of resources, and promoting the transformation of economic growth mode, which is of great significance to building a resource-saving and environment-friendly society and taking a new road to industrialization.
To implement the spirit of the State Council's Three Important Notices and Reply, the most prominent aspect is to "fully implement the Scientific Outlook on Development, comprehensively use economic, legal and necessary administrative means", take property rights as the link, take state-owned mineral resources as the foundation, and focus on protecting ownership, use right and their rights and interests according to law, which requires a re-evaluation of the resource reserves occupied by mining owners and provides a basis for deepening the reform of the system of paid use of mineral resources. Guo Han [2006] 102 "Reply" pointed out: "Clean up the coal exploration and mining rights that have been proved by the state free of charge before the release date of this implementation plan, and pay the price of exploration and mining rights after the remaining resource reserves are assessed and priced in strict accordance with relevant state regulations." In addition, "before the release of this implementation plan, with the approval of the Ministry of Finance and the Ministry of Land and Resources, if the price of exploration rights and mining rights has been partially or completely converted into state capital, the enterprise shall pay back the price to the state, or transfer the transferred state capital into the central geological exploration fund (working capital)." These regulations show that in the process of rectification and integration, the rights and interests of state owners must be realized economically, and the mining right owners, whether state-owned enterprises or individual enterprises, should evaluate and price the remaining resources and pay the mining right price to the state. Therefore, it is necessary to re-verify the mineral land and resource reserves occupied by mining rights, re-estimate the resource reserves, prepare a verification report, and report it to the national registration authority for the record after being audited by a qualified resource reserve evaluation agency.
1.3 It is an inherent requirement for the development of mining rights market to prepare a capital verification report.
1The promulgation and implementation of the revised Mineral Resources Law and a series of supporting measures and detailed rules since March 1996 have ended the history of free use of mineral resources in China, especially in the situation of rapid development of global economic integration and increasing demand for mineral resources in the development of national economy, mining development has developed from a single state-owned enterprise to an economic activity involving multiple ownership systems, and the mining rights market has moved from the cultivation stage to the rapid development stage. The characteristics of diversification of mining investment subjects are very sufficient. Domestic and foreign investors are very enthusiastic about mining investment. Foreign multinational companies pay close attention to domestic gold mines and non-ferrous metal minerals, from investment risk exploration, mining right acquisition (including in the capital market) and joint venture development. While adjusting the industrial structure, many other industries in China have also turned to mining investment with strong financial strength; Social capital also invests the remaining funds in mining. For example, Wenzhou real estate speculators have invested nearly 10 billion yuan in Shanxi coal mines in the past two years. Self-employed people are also optimistic about the soaring prices of mineral products, which are profitable and not afraid of risks, and invest in the development of some mineral resources; Under the situation that the country implements the policy of mineral development integration, the mineral resources legally exploited by mining enterprises and the production factors of mining enterprises are reorganized by means of acquisition, equity participation and merger, especially many listed mining joint-stock companies. In order to achieve sustainable economic development, they also carried out large-scale economic activities such as mergers, acquisitions and alliances of mining enterprises, giving full play to the role of the market in allocating resources, realizing the rational layout of mining development and optimizing the structure of mining enterprises. All these mining economic activities are bound to involve the change of property rights of the mining right holders who originally occupied mineral resources. The trading activities between the transferor and the transferee will be very frequent, and the interest pattern of both parties will be readjusted. The most basic work is to re-estimate the change of resource reserves within the scope of mining rights, verify the resource reserves, and prepare the resource reserves verification report.
1.4 compiling verification report is an inevitable requirement for mineral resources registration and statistical management.
On June 9, 2004, Decree No.23 of the Ministry of Land and Resources of the People's Republic of China promulgated the Measures for the Administration of Mineral Resources Registration Statistics (hereinafter referred to as the Measures), which came into effect on March 6, 2004. The Measures is a basic work to safeguard the ownership of national mineral resources, which stipulates that "those who engage in exploration and exploitation of mineral resources or carry out engineering construction of important mineral resources in People's Republic of China (PRC) and other sea areas under their jurisdiction shall register and count mineral resources in accordance with the provisions of these Measures." Whether it is registration or statistical activities, it is necessary to compile a geological report on mineral exploration at the corresponding stage according to the changes and development and utilization of mineral resources reserves, and submit it to the relevant institutions for review (review) according to relevant procedures. Once the resource reserves change (when the property right changes), the corresponding resource reserves verification report must be submitted in accordance with the Measures, and the review (review) will be used as the basis for registration and statistics.
2. Problems that should be paid attention to in compiling the demonstration report of "Study on the Economic Significance of Mineral Deposit Development"
In solid minerals, whether it is coal mineral resources or non-coal mineral resources, due to various reasons or factors (listed in the regulations), as long as the resource reserves in the mining area change, it is necessary to re-estimate the identified resource reserves or settle the reserved resource reserves, verify their resource reserves, and prepare a verification report on mineral resource reserves. According to the actual situation of resource reserves change in mining area, the economic significance of mineral deposit development needs detailed analysis and research. This paper puts forward some personal views on the current situation in the verification report for the reference of relevant personnel when compiling the verification report.
2. 1 Pay attention to the timeliness of feasibility study.
The financial evaluation of any construction project in China adopts financial price, that is, the predicted price based on the current price system. In principle, when analyzing the profitability and solvency of a project, the price change factors should be treated differently. In the analysis of financial profitability, the forecast price used in each year of the calculation period is based on the general price level of the base year (or the initial stage of construction), and only the change of relative price is considered, regardless of the rising factor of the general price level; In the analysis of solvency, the forecast price used in each year of the calculation period should not only consider the change of relative price, but also consider the rising factor of the overall price level, but generally only consider the end of construction. In fact, many factors may change during the service life of any construction project. The expected economic benefits of industrial development of mineral deposits are not only restricted by the economic life of mines, but also due to the changes in technical and economic conditions of industrial development of mineral deposits, especially in the market economy, the balance of supply and demand and the market price of mineral products lead to changes in national macro-control, interest rates, exchange rates and other factors, and the evaluation conclusion will also change. These factors will affect the conclusion of the feasibility study or economic significance study of industrial development of mineral deposits, especially the evaluation conclusion of the resource reserve verification report. Moreover, in the initial stage of the project feasibility study or even the initial stage of production, the above factors will change greatly with the change of design and research units. Therefore, the original evaluation conclusion is bound to have certain timeliness, and the evaluation work is by no means once and for all, and it must be re-evaluated regularly, instead of "a mining area whose feasibility study has been done or its economic significance has not changed after mining, it is unnecessary to have economic significance for the development of mineral deposits."
2.2 Seriously implement the national macro-control policies and measures, and analyze the impact of research on the evaluation conclusion.
The economic operation of a country should not only regulate the market through an "invisible hand", but also implement macro-control through economic means such as exchange rate, interest rate and tax rate, so as to make the market develop healthily. However, in order to prevent overheating and excessive economic growth, a series of policies and measures must be supplemented to effectively curb the overheated economic development. In recent years, in order to curb the excessive growth of investment in industries with high energy consumption and high pollution, such as steel, cement, alumina, nonferrous metals and building materials, land supply and loans have been more strictly controlled by administrative means, environmental protection standards have been strictly implemented for industrial investment projects, and new projects have been controlled; Increase the export tax on various products with high energy consumption and levy taxes related to environmental protection; Cancel the interest tax to ease the outflow of bank deposits; Raise the benchmark interest rate to the deposit reserve ratio, issue central bank bills, and increase the withdrawal of funds; Allow the renminbi to accelerate its appreciation. However, so far, the excessive growth of China's fixed assets investment has not been effectively controlled, which is beyond the reasonable limit and is in danger of rising. From June to May, 2007, China's urban fixed assets investment increased by 25.9% year-on-year, including: nonmetallic mineral mining and products industry increased by 52.6%, coal mining and metallurgy industry increased by 13.5%, oil and gas mining industry increased by 23.3%, and ferrous metal mining, smelting and rolling processing industry increased by 4.6% (compared with last year). Experts in macroeconomic analysis and research said, "If it is not controlled, the growth rate in the third and fourth quarters of 2007 may reach 30%, and China will undoubtedly face the situation of overheating and too fast economy" (Zhu, June 2007). To this end, the state plans to introduce more powerful policy control measures. Therefore, when compiling the verification report of mineral resources reserves, we must pay close attention to the impact of the introduction of policies and measures on the economic significance of deposit development, otherwise the reliability, accuracy and objectivity of the research conclusions will be questioned.
At present, when compiling the demonstration report, we should conscientiously implement the relevant spirit of the State Council's macro-control policies and measures, such as the Pilot Implementation Plan for Deepening the Reform of the System of Paid Use of Coal Resources, grasp the core content of the policy, and apply it to the study of the economic significance of deposit development, so as to make the demonstration conclusion conform to the reality and meet the requirements of the specification. The names of documents issued by the State Council and relevant departments are listed here for reference, which is of guiding significance to the implementation of national macro-control measures.
(1) Reply of the State Council on Agreeing to Deepen the Reform of the System of Paid Use of Coal Resources (Guo Han [2006] 102);
(2) Notice of General Office of the State Council on Forwarding Opinions of Ministry of Land and Resources and Other Departments on Mineral Resources Development and Integration (Guo Ban Fa [2006]108);
(3) Notice on Strengthening Land Reclamation Management of Production and Construction Projects (Guo Tu Zi Fa [2006] No.225);
(4) Guiding Opinions on Establishing Responsibility Mechanism for Mine Environment and Production Recovery (Cai Jian [2006] No.215).
The implementation of the spirit of the above documents will have an impact on the economic significance of deposit development. Taking the development of coal resources as an example, the first is the reform of paid use system, which requires that "before the promulgation of the Implementation Plan (Guo [2006] 102), enterprises should clean up the proven coal exploration and mining rights of the country free of charge, and pay the price of exploration and mining rights after evaluating and pricing the remaining resource reserves in strict accordance with relevant state regulations." "Before the promulgation of this implementation plan, with the approval of the Ministry of Finance and the Ministry of Land and Resources, if the price of exploration rights and mining rights has been partially or completely converted into state capital, the enterprise shall pay back the price to the state, or transfer the transferred state capital to the Central Geological Exploration Fund (working capital) for holding." In this regard, a detailed explanation should be made in the capital verification report, because this policy and measure will make the intangible (waste) assets in the operation of the enterprise amortize year by year within a certain production and operation period, and the amount transferred from monetary assets will be included in the production cost of the current year.
In addition, the pilot provinces have levied a fund for sustainable development of coal, and included "external costs" such as resource costs, environmental costs, safety costs and coal mine conversion costs into the current costs of coal enterprises to promote the commercialization of social costs. The promotion of this policy cost will be conducive to energy conservation and emission reduction and improve resource utilization. The collection standards of coal sustainable development fund are: thermal coal 5 ~ 15 yuan/ton, anthracite coal/kloc-0 ~ 20 yuan/ton, coking coal 15 ~ 20 yuan/ton. The collection amount is the collection standard multiplied by the adjustment coefficient of the approved scale of the mine and then multiplied by the raw coal output.
The reform of the paid use system in other non-coal mines should also be promoted in accordance with the spirit of the coal implementation plan.
2.3 Distinguish the similarities and differences between feasibility study and verification report on the economic significance of deposit development.
Feasibility study (evaluation) is an analysis and evaluation activity that weighs the economic profit and loss of the proposed project and gives corresponding conclusions according to the given project objectives, including a comprehensive and systematic analysis and demonstration of its necessity, technical feasibility, economic rationality, environmental feasibility and operating condition feasibility in the project decision-making stage, so as to provide a basis for project decision-making. As far as the economics of mineral resources is concerned, it is actually a prediction of the economic benefits and environmental impact of the future development of a specific deposit, and it is a necessary procedure before the development of the deposit, so it is predictive, inaccurate and timely.
The study on the economic significance of deposit development in the verification report of mineral resources reserves is different from the feasibility study. Generally speaking, a mining area in the verification report has been developed, or a certain section of a mining area has been exploited and consumed a certain amount of mineral resources. Through verification, the consumed resource reserves are deducted from the identified mineral resource reserves, the remaining resource reserves are estimated according to the relevant provisions of the state, and the economic significance of the future development of the deposit is demonstrated and evaluated. Therefore, it has the characteristics of post-feasibility study evaluation, mainly including:
(1) Test the feasibility of the feasibility study. After the deposit has been developed and operated for a period of time, the equipment, technology and operation in development are summarized, and the economic significance of future development is re-analyzed and evaluated by using the technical and economic indicators and market conditions in actual production, so as to sum up experience, improve production technology and make judgments on future production and sustainable management capacity and management.
(2) standard. Using the actual technical and economic indicators of current production and operation to compare the conclusions of feasibility study, evaluate whether the technical and economic indicators predicted by feasibility study are reached, and put forward suggestions and measures for improvement and perfection.
(3) Fully reflect the real-time implementation of national macro-control policies and measures. The time of feasibility study is before the development of mineral deposits. According to the policy, price, exchange rate, interest rate and tax rate of general economic operation during the feasibility study, the research on the economic significance of the development of the verification report often changes greatly in the following years or even 10 years. Therefore, it is necessary to properly and truly reflect the actual changes and comprehensively reflect the implementation of the national macro-economy according to the actual impact of the national economic operation on the economic significance on the verification benchmark date.
3 The main content of the study on the economic significance of deposit development
In the "study on the economic significance of mineral deposit development", in addition to the requirements of mineral geological exploration norms, the following basic contents need to be studied.
3. 1 Comparative analysis and feasibility study
The comparative analysis with the feasibility study mainly includes the difference between the construction scale and the actual production capacity, the analysis and evaluation of the design indicators and actual indicators of production technology and technology, and financial indicators. , and explain the reasons, put forward suggestions and measures for improvement and perfection.
In practice, we can refer to ① the technological indexes of metallurgical design in feasibility study, compare the list with the technological indexes achieved in actual production, and analyze the reasons for the differences; (2) explain the reliability and rationality of production technology, equipment and product quality, and the degree of guarantee for metallurgical product quality; ③ Pay attention to the post-evaluation of project financing.
3.2 Post-evaluation of project financing
The content of financial analysis and analysis in post-project financial evaluation is basically the same as that in feasibility study, so it is necessary to evaluate the profitability and solvency of the project. However, the data used in the study of economic significance is not simple actual data, so the price index contained in the actual data of the project should be deducted to make it comparable with the evaluation index in the feasibility study in terms of evaluation time and calculation scope.
(1) project profitability analysis. In the study of the economic significance of deposit mining, the purpose of calculating financial net present value and internal rate of return is to compare and analyze the actual financial achievements of the project with the feasibility study, and also to analyze the industry benchmark rate of return and loan interest of the project to evaluate the quality of the project income. The cost-benefit analysis in the study of economic significance should exclude the price increase factor when calculating the net present value and rate of return.
(2) Liquidity of the project. The analysis of project solvency is mainly used to analyze and evaluate the actual financial solvency of the project in the study of economic significance. This needs to be investigated from the profit and loss statement, balance sheet and cash flow statement of the project (enterprise): asset-liability ratio, current ratio and quick ratio. One of the important tasks is to calculate the loan repayment period according to the actual repayment ability of the enterprise, that is, to repay the after-tax profit, depreciation and amortization of the long-term loan principal of the project. Therefore, the study of economic significance can be analyzed and evaluated according to the actual production and operation data and future forecast data after the deposit is developed and put into production.
Table 1 Comparison of financial benefits
(3) The significance of the comparison of financial evaluation indicators in economic research. The most important work in the study of economic significance is the comparative analysis of financial evaluation indexes of feasibility study and actual production, which can be carried out in the form of table 1
After the comparative analysis of the list, the conclusion of the sustainable development and operation of the deposit should be made in the economic significance study report, whether it is feasible and whether the economic benefits are good.
3.3 When studying the economic significance, we should pay attention to environmental protection and safety measures in production.
The impact of mining enterprises on the environment in the development of mineral deposits should be explained in the report in combination with the increasingly strict requirements of environment and safety in production and the entry threshold. Although this content has been discussed in detail in the geological report of geological disasters and geological environment, it should generally focus on pollution control, resource utilization and protection, and the impact on the ecological environment. , especially whether the project has passed the environmental impact assessment and safety production assessment. , and whether there is a certificate issued by the relevant department. This should be the perfection and improvement of a good report. Because the above problems cannot pass the inspection and acceptance of the relevant departments, they will be rejected by one vote, suspended for rectification or ordered to dismount and close, and the economic significance of deposit development is equal to zero.
3.4 Main contents of general research
This section discusses the main contents of the study on the economic significance of deposit development, mainly aiming at the post-evaluation of feasibility study. After the completion of this project, the evaluation work is essentially an extension or expansion of the feasibility study, which should generally be completed by qualified units or qualified technical and economic experts in conjunction with relevant professionals. Judging from a large number of mineral resources reserves verification reports currently reviewed, the chapter on the economic significance of mineral deposit development was basically completed by the geological engineers and technicians of the verification report writing unit, which could not be compiled according to the requirements of "Methods and Parameters of Economic Evaluation of Construction Projects" (3rd edition, 2007), and only a simple, intuitive and non-financial summary study could be conducted. In this way, it often fails to meet the requirements of this chapter in the Regulations on the Compilation of Verification Reports of Solid Mineral Resources, and it can only be described qualitatively, unprofessional, and there are not many financial data to demonstrate the accuracy or feasibility of the research conclusions. To this end, the basic requirements for compiling the brochure are put forward.
(1) On the basis of meeting the basic requirements of geological technology and the basic reliability of resource reserve estimation, summarize the demand degree of national economy for minerals, construction and development planning and main technical and economic indicators (including main production technical and economic indicators of mining and dressing technology), and make comparative analysis and evaluation;
(2) Evaluating the timeliness of the financial evaluation index table and its basic conclusions in the feasibility study report;
(3) With the assistance of financial personnel of mining enterprises, provide the profit and loss and profit distribution table, balance sheet and cash flow table confirmed by accounting or auditing firms in recent three years, calculate and fill in the financial benefit index table of the previous period (table 1), and then explain the reasons for deviation and suggestions for improvement through analysis and comparison.
3.5 Evaluate the production and operation performance of an enterprise to determine its sustainable operation ability and development potential.
The so-called enterprise performance evaluation refers to the objective, fair and accurate evaluation of the operating effect of an enterprise in a certain operating period by using a certain index system and comparing with the standards set by the State Council SASAC. Its quantitative analysis is based on three financial statements. In the study of the economic significance of mineral deposit development, we have calculated nine indicators such as return on net assets, return on total assets, profit rate of main business, asset-liability ratio, quick ratio and current ratio in recent three years, and compared them with the standard values of enterprise performance evaluation published by SASAC last year, so as to measure the operating performance of enterprises, demonstrate the sustainable operation and development potential of enterprises, and determine the economic significance of sustainable development of mineral deposits.
According to the basic data such as profit and loss statement, balance sheet, cash flow statement, etc., calculate the nine performance indicators listed in the table, fill in the enterprise production and operation performance indicators table (Table 2), analyze the data in the table, and explain the sustainable operation and its development potential.
Table 2 Performance indicators of enterprise production and operation
① Current ratio = (current assets/current liabilities) × 100%. Generally speaking, current assets can be realized within one year, and current liabilities need to be repaid within one year. The ideal value of flow ratio is 2, which is a routine check value. If the current ratio of the enterprise is higher than 2, it shows that the short-term repayment ability of the enterprise is relatively strong; If the current ratio is less than 2, the short-term repayment ability of the enterprise is weak.
(1) qualitative description: ① withdraw the deposit for mine environment restoration and land reclamation; ② Collection of coal (or other minerals) sustainable development deposit; (3) Establish a coal conversion development fund; (4) Payment of the price of mineral resources; (5) The influence of policy cost growth such as safety production cost extraction on the economic significance of mineral deposit development, and promote the realization of feasibility evaluation cost, internalization of external cost and realization of social cost.
(2) Whether the conclusion of the economic significance of deposit development is feasible and whether the economic benefits are good.