State University «Institute of Economics of Nature Management and Sustainable Development of National Academy of Sciences of Ukraine» (Kiev, Ukraine):

Matyukha V. V., Leading Researcher, Candidate of Engineering Sciences, e-mail: matiukha@ukr.net

This article is devoted to development of methodological approach to the adjustment of a discount rate. This rate is a basic prudential regulation – a relative index of minimum annual income, which is used in the method of discounting of money flows.
The discount rate is constant for the whole period of analysis of investment project (development of deposit), during the determination of economic (cost) evaluation of reserves and resources of minerals by the discounting of money flows. The rate does not meet the economic realities, because the inflation is not taken into account. According to this, the accuracy of calculations is reduced during the determination of a cost of reserves of mineral resources as a capital.
The author presents the concrete methodological approach to annual adjustment of the discount rate by the correcting factor.
It is defined, that the correcting factor takes into account the value of money in time.
The presented numerical calculations show the changes of the value of correcting factor of the discount rate in terms of the time of development of deposit, during the determination of its economic evaluation by the discounting of money flows.
This article presents the final type of the formula, which is used for determination of the cost of supplies and resources of minerals of deposits or the used subsoil area. This cost can be determined, taking into account the correction of the discount rate and charges, related to the receipt of the special permission on the subsoils usage.

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