China Unveils Opinion on Deepening the Reform of Mineral Resources Management
ISSUING AUTHORITY:
Ministry of Natural Resources
DATE OF ISSUANCE:
July 26, 2023
On July 2023, the Ministry of Natural Resources has released the Opinion on Deepening the Reform of Mineral Resources Management (the “Opinion”). The Opinion is aimed at continually deepening the reform of mineral resources management.
The Opinion proposed a total of 11 measures to enhance the supervision of domestic mineral resources exploration while providing support for the development of the mining industry. According to the Opinion, for rare earth and radioactive mineral exploration and mining projects or key construction projects approved by the State Council, the Ministry of Natural Resources is entitled to permit the transfer of mining rights between specific entities by agreement. However, the Ministry of Natural Resources shall solicit the provincial government’s opinions regarding the potential transfer of mining rights before issuing such permit. The Opinion also proposed to implement and improve the integrated system of oil and gas exploration and production. This allows oil and gas mining rights holders to submit a combined exploration and production plan to the competent natural resources departments within 30 days after discovering oil and gas resources and completing oil (gas) testing.
With the measures mentioned in the Opinion, the exploration and development of mineral resources will be further promoted. Furthermore, it is believed that the investments in mineral resources will also be facilitated.
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