Exploration of diversified financing channels for mine ecological restoration

The mode of government investment fund and investment operation company, whether it is the mode of setting up fund or the mode of setting up company with direct equity contribution, is established on the premise of the cooperation form of investment subjects and the project capital. When social capital is not directly involved, the local government and local state-owned enterprises set up funds or directly set up companies, which have higher requirements for the return on investment mechanism; In the case of direct participation of social capital in joint investment, usually in cooperation with state-owned enterprises, the comprehensive income exceeding the project is usually used as a supplement to the insufficient investment income. For example, Shaanxi Provincial Department of Natural Resources and Shaanxi Provincial Department of Finance as the main sponsors, together with Shaanxi Geology and Mining Group Co., LTD., Shaanxi Changjiang Capital Management Co., LTD., and Shaanxi Investment Fund Management Co., LTD., jointly initiated the establishment of Shaanxi Qinling Mine ecological restoration Fund (limited partnership), with a total scale of 303 million yuan.

Innovative finance and environmental loan models are applied in the form of innovative loans to innovate projects. For example, the Zixi County branch of China Construction Bank was approved with a loan of 120 million yuan for mine restoration projects to support the construction of ecological restoration projects for abandoned mines in Zixi County. This model is usually used in cooperation with the government investment fund and investment operation company model. The main body of the loan is local state-owned enterprises, and the local state-owned enterprises are guaranteed by themselves.

Using the policy funds of multilateral banks, the main investment model is "unified loan and repayment, who uses who returns, mortgage guarantee, contract management, inspection and acceptance". The AIIB, the European Investment Bank and other multilateral banks have a large amount of targeted investment in green environmental protection every year, and the loan cycle is long, the fee is generally about 2.5%, and the financing cost is much lower than that of domestic commercial bank loans. However, the acceptance requirements are high, and the quality of the project completion has high requirements, which is generally coordinated by the province. For example, the Ministry of Finance and the Asian Development Bank (ADB) officially signed the loan agreement for the ecological restoration and sustainable development project of Keda Mountain mining area in Hezhou, Guangxi, using the ADB sovereign loan of about 84 million euros, with a loan term of 25 years.