This paper discusses the methods behind the valuation of subsoil natural resources in Australia, including recent improvements and the introduction of subsoil natural resources into the mining industry productivity measures.
The Australian Bureau of Statistics (ABS) has measured the value of Australia’s subsoil natural resources for a number of years. The net present value approach is used to value these assets as there are insufficient transactions in subsoil natural resources to determine market prices.
Recent improvements have ensured that gross operating surplus (GOS) modelled separately from subsoil natural resources are broadly consistent to GOS obtained from other ABS mining industry statistics. These improvements were incorporated in the 2012-13 release of Australian System of National Accounts (ASNA) national balance sheet. Commencing with the 2012-13 release of ASNA, subsoil natural resources will also be included in the official productivity measures. Including subsoil inputs significantly moderates mining capital services growth and thus moderates the decline in mining multifactor productivity.
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| First Issue: 2012-13
Latest Issue: 2012-13
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