China’s Ministry of Natural Resources recently reported the release of the Notice on Further Improving Administration of Mineral Resource Exploration and Mining Registration, which aims to optimize the business environment in the mineral resource field and support new strategic exploration activities for the stronger ability to secure energy and resources.
The Notice calls off restrictions on transferring period of mining rights obtained through bidding, auction, listing and other market competition, to further invigorate the secondary market of mining rights and stimulate more social investment to be injected into mineral resource exploration. At the same time, the period limitation for transferring mining rights acquired through contracts is cut to five years from ten years, and the transfer and alteration of mineral resources which ask for specific qualifications from exploration and mining entities shall not be subject to the five-year period limitation if all the applicants meet the requirements.
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