我国多层次矿业资本市场建设与发展探析

建立我国多层次的矿业资本市场体系,是资本市场制度改革的大势所趋,也是市场经济发展的客观需要.一个完整而且成熟的矿业资本市场,应当由多个层次组成,各层次市场之间相辅相成,互相补充,能够通过一种良性的互动来满足不同市场主体的需求.本文首先分析了我国发展多层次矿业资本市场的必要性,以及多层次矿业资本市场发展现状;接着,探讨了矿业资本市场在制度建设、平台建设等方面存在的问题和面临的障碍;最后,本文提出建设和发展我国多层次矿业资本市场的四点对策建议.     

政策法规

日前，国家能源局发布了《关于鼓励和引导民间资本进一步扩大能源领域投资的实施意见》，指出，我国将拓宽民间资本投资范围，列入国家能源规划的项目，除法律法规明确禁止的以外，均向民间资本开放，鼓励符合条件的民营企业以多种形式参与国家重点能源项目建设和运营。     

两部门:鼓励民间资本投资土地矿业

国土部与全国工商联日前联合出台《关于进一步鼓励和引导民间资本投资国土资源领域的意见》,鼓励、支持和引导民间资本进入土地整治、矿产资源勘察开发,包括支持民资投资页岩气、煤层气、油砂等非常规油气开采等国土资源领域。《意见》提出,鼓励民间资本投资主体,盘活国有建设用地。民间资本投资主体以出让方式取得的土地,可依法通过转让、租赁、作价出资入股等方式盘活利用。在依法依规的前提下,支持、鼓励民间资本投资主体以市场交易、合资合作等方式盘活利用     

矿业资本市场浅析

本文从我国地勘业与矿业现状、改革与发展为出发点 ,从对矿业资本市场的理解 ,矿业资本的来源 ,中介服务机构和政府的作用等方面进行了探讨性地论述 ,根据我国矿产勘探投资的统计进行了分析 ,指出国家对矿业投资力度不够和融资与利用外资结构不合理等问题。文中还对我国矿业投资、融资和利用外资提出了建议。     

阿根廷矿业投资环境分析

文章对阿根廷的能源矿产、金属矿产、非金属矿产的储量及勘探开发情况做了概述。通过对影响矿业投资的政治、经济、基础设施、法律和人力环境等因素的分析,认为阿根廷矿业投资环境虽存在一些问题但总体上阿根廷政局稳定、经济发展良好、矿业法律法规完善、基础设施发达、劳动力资源丰富且素质高,适合投资者进行矿业投资。并对中国与阿根廷的矿业投资前景进行了展望,认为中国对阿根廷的矿业投资可优先选择石油、天然气、铜、铀以及非常规能源等领域,在投资方式上应灵活地采取多种投资方式,以达到投资目的。     

中国省域矿业投资环境评价指标体系建立与结果分析

近年来,全国和地方都很重视矿业投资环境,相继出台了一系列的政策和规章制度来改善矿业投资环境。为充分了解当前我国矿业投资环境现状和存在问题,我们开展了2013年度中国省域矿业投资环境调查评价工作。本文通过构建省域矿业投资环境竞争力评价指标体系,对全国除台湾省外31个省(区、市)的矿业投资环境竞争力进行了综合评价。评价结果表明:四川、云南、江西、广东、河南、湖北、山东、内蒙古、甘肃、广西等地的矿业投资环境整体环境较好;一些省份需要在市场开发、矿业权准入、信息化服务以及基础设施建设方面进一步优化投资环境。     

我国矿业投资环境现状调查及优化建议——基于矿业投资环境问卷调查分析

为了解我国当前矿业投资环境状况,改善投资环境,在对我国矿业投资环境问卷调查的基础上进行了综合统计分析。调查总体结果显示,中国具有较大的矿业投资潜力,近年来投资环境也在不断改善,但矿业投资环境仍有较大的改善空间,还存在政策一致性差异较大、投资者权益难以充分保障、矿业权审批效率较低、矿业权市场化程度不够、地质资料社会化服务不到位等方面的问题,需进一步坚持改革开放,加大简政放权和信息公开力度,深化资源税费改革,完善矿业投资金融环境,维护矿业政策稳定性和连续性,提升政府服务能力和水平,提高矿业投资者合法权益保障程度,激发投资者的矿业投资热情。     

国外矿业资本市场分析及对中国的启示

美国、加拿大、澳大利亚等西方国家矿业资本市场高度发达。本文重点分析了发达国家矿业资本市场的参与主体包括勘查公司、矿业公司、证券交易所、中介服务机构、金融投资机构等。分别介绍了证券交易所、中介服务机构、金融投资机构的情况,并分析了它们在矿业项目中所发挥的不同作用。对比国内外矿业资本市场情况,提出了我国矿业资本市场的发展建议。     

基于内部融资环境的矿业企业资本结构研究

近年来,我国非金融企业债务规模不断攀升,"降杠杆"成为当前经济建设的重要内容。矿业企业是国民经济的重要组成部分,在经济建设中发挥重要作用,其资本结构状况也备受关注。本文选取2014—2018年矿业类上市公司数据,基于内部融资环境视角,从股权集中度、资产流动性、盈利能力、企业规模和资产周转能力5个方面建立资本结构回归模型,探寻现阶段矿业企业资本结构的影响因素及影响程度。研究结果表明:股权集中度与资本结构负相关,资产流动性与资本结构负相关,盈利能力与资本结构负相关,企业规模与资本结构正相关;并在此基础上进一步构建资本结构影响因素模型测算最优资本结构区间,发现近年来矿业类上市公司资本结构总体呈现先升后降趋势,降杠杆的效果不够显著,企业之间资本结构差异大,整体较为离散。本文建议通过加大矿业企业民营资本或社会资本等外部投资资本占比,完善股权结构;提高资产流动性,增强财务柔性;加强矿业企业技术创新和成本控制,提高产品抗波动能力和核心竞争力,增强盈利能力;以此优化矿业企业资本结构,提升企业价值。     

论矿业环境行政公益诉讼制度的构建

从矿业环境行政公益诉讼制度的概念和特征出发, 指出当前我国矿业环境行政公益诉讼制度存在的问题, 从立法、实践、具体制度设计3个层面构建矿业环境行政公益诉讼制度。     

China rare earth market review

正November 21~30,2014Due to weak demand from downstream industries,transactions of rare earth in Chinese domestic market were inactive.It was difficult to sell any rare earth products except for dysprosium oxide and terbium oxide.Suppliers lost confidence in recent market.Demand for rare earth products was soft.Consumers continued to take a wait-and-see attitude.Rare earth export market remained slow.     

Current situation and future trend of China rare earth luminescent materialindustry(continued)

<正>Developing ecological lighting source The world is facing the big problem of energy shortage today and the contradiction between economy development and environmental protection is worsened.Therefore,people are more likely to choose an ecological light source that is more energy efficient and environmental friendly.The choice provides great opportunity for the development of rare earth optical material industry in China.The concept of green lighting positions rare earth luminescent material as a leading player in illumination market.The light source of both rare earth luminescent lamp and LED lamp is ecological and energy saving.This is why     

Galaxy Magnets achieved the net profit of 34.02 million yuan in the first six months of 2014

正Galaxy Magnet announced its financial results for the first half of 2014 on August 14.For the first six months ended on 30 June 2014,Galaxy Magnet achieved operation income of RMB 182.3 million,up8.40% over the same period of 2013,and the net profit attributable to the shareholders of the listed company of 34.02 million yuan,increasing 35.49% over the same period of last year.Stable performance increase was led by development of new customers and application market of magnets.     

Rare Earth Application in Steel in China

<正>China has rich rare earth resources.Output of rare earth and steel in China ranks the top first in the world.However,there is still certain distance between the steel produced in China and developed countries from the point of varieties and quality.China still has to import some types of steel.Improving the quality should be emphasiZed in future development of steel industry in China.Rare earth can be used to upgrade traditional steel     

稀散金属产业的观察与思考

分析了近年来国内外稀散金属产业的生产、应用、资源与市场状况.铟锡氧化物靶材、砷化镓晶片、锗红外材料、铼高温合金和硒在电解锰及玻璃的应用等已成为稀散金属的主要应用领域.稀散金属的产量快速增长达到历史高位而导致了市场的失衡.以GaInP_2/GaAs/Ge,CIGS和CdTe为代表的非硅系太阳能电池是稀散金属的新兴应用领域,将给稀散金属带来日益增长的需求.     

China rare earth market review

正November 1~10,2014Chinese rare earth market was still inactive.Demand for rare earth products was weak.Consumers took a wait-and-see attitude for lower price.As it was an off season for rare earth products,it was expected that prices of rare earth could continue turbulence at the bottom in short terms.Due to a sharp drop,demand for rare earth from downstream recovered.Affected by new energy vehicles,wind powder and energy-efficient appliances,production of rare earth permanent     

China rare earth market review

正August 1~10,2014 There was some good news in rare earth industry recently.Restructuring plans of rare earth groups led by Baotou IronSteel Group and Xiamen Tungsten Group respectively have been approved by MIIT.And rare earth storage policy,which had been expected for a very long time,has been launched officially.Pushed by the good news,rare earth price started to rebound since August 5.Price of didymium oxide and dysprosium oxide rose about 1% to 2%,averagely.About 10% of     

China rare earth market review

正July 1~10,2014Due to weak demand from downstream industry and slow transactions,rare earth market remained weak and price of rare earth products continued to decline.There was no sign of recovery in downstream market.The market of NdFeB magnetic materials and phosphor was depressed.Catalyst,     

New energy vehicle:an opportunity for rare earth magnets

<正>Extracted from Securities Guide 1.Popularity of new energy vehicles—an irresistible market trend1.1 Progress of new energy vehicles Chinese Premier Li Keqiang said recently on a visit to Xi'an BYD Autos that new energy vehicles,especially new energy bus,can lessen environment and noise pollution.He encouraged the use of new     

Brief news

正Corun invested another 50 million yuan in power battery for HEV Hunan Corun announced on 27 June that they had signed the cooperation agreement to jointly built Corun(Shaoxing)Autos Power Battery System Co.,Ltd.in Shaoxing Binhai New City.According to the announcement,total registered