Pricing Mining Concessions Based on Combined Multinomial Pricing Model

<table class="table-group" id="tab3"><tr><td><table class="table"><tr><td class="thead-hr" colspan="2"><hr/></td></tr><tr class="thead"><td class="align_left">Year</td><td class="align_center">Annualized volatility (%)</td></tr><tr><td class="thead-hr" colspan="2"><hr/></td></tr><tr><td class="align_left">2007</td><td class="align_center">28.07</td></tr><tr><td class="align_left">2008</td><td class="align_center">33.50</td></tr><tr><td class="align_left">2009</td><td class="align_center">33.49</td></tr><tr><td class="align_left">2010</td><td class="align_center">20.87</td></tr><tr><td class="align_left">2011</td><td class="align_center">22.87</td></tr><tr><td class="align_left">2012</td><td class="align_center">11.24</td></tr><tr><td class="align_left">2013</td><td class="align_center">13.74</td></tr><tr><td class="align_left">2014</td><td class="align_center">13.29</td></tr><tr><td class="align_left">2015</td><td class="align_center">18.58</td></tr><tr class="table-tr"><td colspan="2"><hr class="tbody-hr"/></td></tr></table></td></tr></table>

The annualized volatility values of spot copper price in China from 2007 to 2015.

Discrete Dynamics in Nature and Society

tab3

Table 3

Table 3: Pricing Mining Concessions Based on Combined Multinomial Pricing Model 