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.
It is shown that the existing cadastres of natural resources do not meet the new administrative and economic relations forming in Russia. the cadastre of natural resources should be compiled according to the territorial principle, and the cadastre of secondary mineral resources should become a component of such a territorial cadastre. The form and composition of the cadastre indicators are substantiated, which will make it possible to give a systemic assessment of secondary mineral resources on the basis of appropriate criteria.
