摘要 矿产资源是重要的战略资源，对我国国民经济的发展及国家经济发展安全具 有特殊的支撑作用，我国矿产资源丰富，但人口基数大，人均占有量不足，根据 西方国家的经验，目前我国仍处于工业化的中期，对矿产资源的需求仍处于高速 增长之中，为保证国家资源安全，确保经济发展能获得经济、充分的资源保障， 需要到国外进行矿业投资。云南虽是有色金属王国，矿产资源丰富，但随着经济 社会的发展，供需矛盾同样突出，加之环境容量日趋饱和，环保压力日趋增加， 矿业对外投资成为了一个必由之路。 老挝与云南省接壤，矿产资源种类丰富，老挝政治稳定，对华友好，因为特 殊的区位优势，云南是中国从陆路进入老挝的必经之路，也是老挝矿产等大宗商 品从陆路进入中国的必经之路。云南省的区位优势和云南与老挝基础设施互联互 通的不断推进，对于矿产等大宗商品的贸易加工相较于其他区域具有明显的物流 成本优势。因此，老挝成为云南矿业企业投资最多的国家。如何对投资老挝矿业 进行风险管理，对于云南企业到老挝进行矿业投资成功与否具有较强的现实意 义。 本文主要内容及思路是，在结合相关理论与现有研究成果的基础上，描述矿 产资源、跨国投资、投资风险管理的相关概念。对老挝矿业投资环境运用 PEST 模型进行分析；分析总结云南企业对老挝矿业投资的现状。在上述分析总结的基 础上，采用云铅国际与老挝 CNP 公司合作项目为例，进行可行性及管理分析， 分析了投资风险，提出了应对的措施。在此基础上，从政府宏观与企业微观两个 层面对云南企业老挝矿业投资风险管理提出了建议，希望对提高云南企业对老挝 矿业投资的成功率，达到企业资本保值增值的目的贡献微薄之力。 关键词：云南企业；老挝投资；风险管理；矿产行业Abstract II Abstract Mineral resources are important strategic resources, and to our country the development of national economy and national economy security has the special support, my country is rich in mineral resources, but the huge population base to make mineral resources per capita is at a relatively low in world rankings, ranked as represented by the emerging market countries to the advancement of industrialization, the increasing demand for mineral resources, the contradiction of insufficient supply of domestic mineral resources become more prominent. Therefore, it is more important to obtain resources abroad through different investment ways and means. Yunnan is a kingdom of non-ferrous metals, mineral resources are abundant, but with the development of society and economy, also highlight the contradiction between supply and demand, as to establish mining to be a pillar industry in yunnan province, mining and related zi chan industry fast development, the domestic, the province's mineral resources to obtain the difficulty increases, the cost increasing, at the same time, due to the environmental capacity has become increasingly saturated, the environmental pressure increased, mining has become a necessary way to foreign investment. Laos is adjacent to Yunnan province and is rich in mineral resources. Meanwhile, Laos enjoys political stability and friendship with China. From the perspective of location, Yunnan is the only way for China to enter Laos by land, and it is also the only way for Commodities such as minerals from Laos to enter China by land. In recent years, the traffic conditions between Yunnan and Laos have been continuously improved, and Yunnan's location advantage has become more prominent. Compared with other regions, The geographical advantages and transportation conditions of Yunnan province have an obvious logistics cost advantage in the trade processing of bulk commodities such as minerals. Therefore, Laos has become an alternative place for yunnan mining enterprises to invest. In recent years, many mining enterprises inAbstract III Yunnan province have entered Laos to make mining investment and have become an important force in Laos' mining industry. Therefore, Lao mining investment risk management is studied in yunnan province, put forward reasonable advice about risk management, for the enterprises in yunnan province to Laos for mining investment has theoretical significance and practical guiding value, also to our country enterprise overseas mining investment, especially in developing countries overseas investment theory and practice has strong practical significance. The main content and idea of this paper is to describe the related concepts of mineral resources, transnational investment and investment risk management based on the combination of relevant theories and existing research results. PEST model is used to analyze the mining investment environment in Laos. The stock and flow of Chinese enterprises' investment in mining industry in Laos and the proportion of Chinese enterprises' direct investment in Laos are analyzed and summarized. On the basis of the analysis summary, adopt cloud lead international cooperation with Laos group company, to lead the Lao mining exploration, acquisition and construction of 50000 tons of lead oxide comprehensive development project as an example, through the cloud lead international on Laos mining investment feasibility analysis and management, analyzes the facing the investment risk, puts forward the ways to cope. On this basis, the paper puts forward some Suggestions on the risk management of yunnan enterprises' mining investment in Laos from both the macro and micro levels of the government, hoping to make a small contribution to improving the success rate of Yunnan enterprises' mining investment in Laos and achieving the goal of maintaining and increasing the value of enterprises' capital. Key words: Yunnan enterprises； Investment in Laos； Risk management； Mining industry目录 IV 目 录 摘要............... I ABSTRACT...II 第一章 绪论...1 第一节 研究背景........1 一、研究背景.1 二、研究意义.1 第二节 文献综述........2 一、国外文献综述........................2 二、国内文献综述........................2 第三节 研究思路与研究方法.................... 3 一、研究思路.3 二、研究方法.4 三、技术路线.5 第四节 本文的创新与不足........................ 5 一、创新.........5 二、不足.........6 第二章 相关概念与理论基础.....7 第一节 相关概念界定7 一、矿产资源.7 二、跨国投资风险........................7 三、投资风险管理........................7 第二节 理论基础........8 一、 FDI 相关理论...................... 8 二、风险管理相关理论..............10 第三章 云南企业投资老挝矿业分析......................12 第一节 老挝矿业投资环境分析.............12目录 V 一、老挝国家基本概况..............12 二、政治法律环境......................12 三、经济环境..............................14 四、技术环境..............................16 五、社会环境..............................16 第二节 中国企业投资老挝矿业现状.....17 一、中老双方贸易现状..............17 二、中国企业在老挝矿业投资开发的现状............ 17 第三节 云南企业投资老挝矿业现状.....20 一、云南企业投资老挝矿业面对的对外投资管理政策.......................20 二、云南省与老挝贸易及对老挝投资情况............ 22 三、云南企业投资老挝矿业方式与类型................ 23 第四节 云南企业投资老挝矿业风险管理现状....................24 一、宏观层面风险管理现状......24 二、微观层面风险管理现状......24 第四章 云铅国际对老挝矿业投资可行性及管理分析.........................26 第一节 云铅国际、老挝 CNP 公司概况及合作情况............26 一、云铅国际概况......................26 二、老挝 CNP 公司概况............26 三、老挝云铅国际矿业开发有限公司项目概况.... 27 第二节 云铅国际投资目标与投资模式.28 第三节 云铅国际投资老挝矿业的必要性及可行性............29 一、投资必要性..........................29 二、投资可行性..........................29 第四节 云铅国际对老挝矿业投资管理分析........................35 一、投资项目融资......................35 二、投资项目管理......................36 三、投资项目退出......................36 第五章 云铅国际对老挝矿业投资风险与对策研究.............................38 第一节 云铅国际有限公司投资老挝矿业风险....................38 一、外部环境风险......................38目录 VI 二、云铅国际公司运营风险......45 三、矿产行业自身的风险..........46 第二节 云铅国际投资老挝矿业风险对策............................47 一、老挝云铅国际矿业成立风险管理部................ 47 二、建立高效项目风险管理沟通流程.....................48 三、股东与矿业公司合理分工管理风险................ 49 四、充分利用各种风险管理策略和管理工具管理风险.......................53 第六章 云南企业对老挝矿业投资风险管理建议..54 第一节 政府宏观层面.............................54 一、多部门合力，完善风险防控体系.....................54 二、提供金融保险支持..............54 三、建设国际矿业权交易中心..55 四、加大口岸建设的投入降低企业运营风险........ 55 第二节 企业微观层面.............................55 一、事前预防风险......................55 二、适度管理风险......................56 三、集中管理风险......................56 四、长期监控风险......................56