Public Institution “Institute of Environmental Economics and Sustainable Development, National Academy of Sciences of Ukraine”, Kiev, Ukraine:

V. V. Matyukha, Principal Researcher, Candidate of Engineering Sciences, matiukha@ukr.net

Economic appraisal of investment projects is the central point of substantiation and selection of possible scenarios for solid assets operations. This article considers the problem of reliable evaluation of economic efficiency and investment into mineral exploration and mining projects. Methodical approaches to determination of key criteria of subsoil use efficiency are described. The author points at imperfection of long-term forecasting and offers the generalized determinative criterion in the form of rate of discounting as the best conformable with the contemporary market relations. The analytical method is proposed for sequential annual (for the entire period of an investment project) calculation of the rate of discounting E based on the known or readily determined current year index, or based on earlier acquired data on each of the previous years, considering rate in inflation in a country. The approach allows investors and subsoil users to plan and annually control incomings of realization of marketable products in volumes ensuring profitability and recovery of investment within the period reasonable for an investor.

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