由于境外矿业并购中涉及到了不同的国家及地区，政治理念、文化理念等方面都
有较大的差异，形成了境外矿业并购中存在的政治风险、地质风险、资本风险、
管理风险及其他风险，这些风险都会并购项目的成败具有决定性的作用。本文通
过结合对并购风险理论研究和笔者在 C&C Mining 公司进行境外矿业企业并购及
管理工作的经验，对在境外进行矿业并购需要注意的风险种类及其产生原因进行
研究，以期为希望在进行境外矿业并购的企业提供关于规避有关风险的参考。
本文通过采用文献整理研究法和案例分析法，对境外并购中存在的风险种类
及其产生的原因进行了研究。本文分别对政治风险、地质风险、资本风险、管理
风险及其他风险等境外并购风险进行了理论归纳和案例分析，总结了各种风险可
能出现的原因和表现形式，同时联系在菲律宾进行矿业并购及后期经营管理中出
现的问题，提出了关于如何规避风险的一些建议。
关键词：矿业，并购，风险Abstract
With the continuous economy development of China, the domestic minerals
supply already can’t afford the need of raw materials for domestic industrial
production, the dependency of oversea minerals resources will be increase continuous.
Basic on the minerals market situation, China’s mining enterprises went to oversea
area, tired to build oversea minerals production base through M&A. Because of the
overseas M&A come down to different countries and areas, the idea of political and
culture have some major differences. The risk of oversea M&A include political risk,
geosciences risk, capital risk, management risk and other risk, and play a decisive role
in the M&A project. This article links the theoretic of M&A risk and writer’s working
experience on C&C Mining M&A and management, study on the type and reason for
the oversea M&A, hope to provide some references to evade the oversea M&A risk
for the companies who is working or trying oversea mining M&A.
This article discussed the type and reason for the risk of oversea mining M&A,
which through literature analysis and investigation and analysis. The article analysis
the oversea M&A risk from theory summarized and case analysis, summarized the
reason and manifestations of every risk, the type of risk include political risk,
geosciences risk, capital risk, management risk and other M&A risk. Summarized the
problem appeared in the mining M&A and management period, and give some
suggestion to how to evade the risk of oversea mining M&A.
Key words: Mining, M&A, Risk
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