Fair market value definition = It is the price at which a property may be sold by a seller who is not compelled to sell

and bought
by a buyer who is not compelled to buy, taking into consideration all uses to which the property is adapted and might in reason
be applied.

-(GR No. 181847 PUBLIC ESTATES AUTHORITY now PHILIPPINE RECLAMATION AUTHORITY vs ESTATE OF JESUS S. YUJUICO,
represented by BENEDICTO V. YUJUICO and EDILBERTO V. YUJUICO; and AUGUSTO Y. CARPIO)

Among the factors to be considered in arriving at the fair market value of the property are the
cost of acquisition,
the current value of like properties,
its actual or potential uses,
and in the particular case of lands, their size, shape, location, and the tax declarations thereon.

Other relevant factors that determines FMV:

zonal valuation,
tax declarations and
current selling price supported by documentary evidence.

-(REPUBLIC OF THE PHILIPPINES, represented by the DEPARTMENT OF PUBLIC WORKS AND HIGHWAYS (DPWH)vs. ASIA PACIFIC
INTEGRATED STEEL CORPORATION G.R. No. 192100 March 12, 2014)

Sand & Gravel Mining in the US: Market Research Report (Ibis World market research industry)

The Sand and Gravel Mining industry principally mines and undertakes basic processing of sand and gravel used for construction aggregates and
industrial applications such as road building, landscaping, and petroleum extraction. The industry also undertakes the extraction and primary
processing of clay and refractory products for use in downstream manufacturing applications. Domestic sand and gravel production is expected to rise
over the five years to 2017, mirroring industry revenue growth.

Industry Threats & Opportunities

 Demand for clay and refractory materials is projected to continue deteriorating in several downstream manufacturing industries
 Industry employment recovered as companies rehired workers to meet strengthening demand
 Revenue will recover as the housing construction market rebounds

IBISWorld identifies Factors for a business.The most important for the Sand & Gravel
Mining Industry are
 Availability of resource
 Ability to compete
 value of production index (vapi) {VAPI is defined as the monthly change of production
values in selected manufacturing enterprises. It is used for the analysis
of production trend in the manufacturing sector. VOPI is derived by dividing VAPI by the
Producer's Price Index (PPI), with 2000 as the base year.}
 Value of private nonresidential construction