Reviewed by norms of the Russian legislation, containing the largest number of inconsistencies with the Worde Trade Organization standards and rules. Identified industry, the state support to a lar-ger extent violates the interests of the countries-members of WTO. Defined the leading role of the mineral-raw complex in the formation of the budget and the necessity of its protection from adverse factors, arisen as a result of accession of Russia to the WTO. Tasked with the development of the market mechanism of formation of the prices for mineral raw materials.
The Market Approach (Sales Comparison Approach) in mineral property valuation can boast easy-to-understand logic and yield reliable results. It can provide a reliable indication of a property's market value only if sufficient and representative data on arm’s lengths transactions with mineral properties that have similar characteristics are available. Official publications covering state bids are an essential source of this data. It is important to make sure that the bid be competitive and double-checked for compliance with the arm’s lengths criterion. Price per unit of reserves/resources is the most popular unit of comparison in mineral property valuation. Elements of comparison usually include physical and chemical properties, mineral quantity, applicable extraction and processing methods, geographic location with respect to availability of infrastructure and market for the product. To make models and calculate reliable adjustments, the data on similar mineral properties should be comparable and the elements of comparison selected on a uniform basis. It needs to collect some additional data on comparable mineral transactions.
