矿业权出让转让管理暂行规定 Administration of Granting and Assigning Mining Industry Rights Tentative Provisions

he bid invitation or the auction on the basis of the actual closing price.

　　Section One: Approval of Application

　　Article 18　Granting of a mining industry right by approval of application means that after examination and approval of an application for a mining industry right, the registration authority grants the mining industry right to the applicant.

　　Article 19　A mining industry right applicant shall be a capital contributor or a legal person established with the capital contribution of the capital contributor. However, where the exploration was conducted with State funding, the exploration right applicant shall be designated by the capital contributing organization. Where two or more capital contributors establish an equity or cooperative joint venture to explore and exploit mineral resources, the joint venture shall be the mining industry right applicant; where these capital contributors conduct exploration and exploitation of mineral resources without establishment of any joint venture, the capital contributors shall jointly issue a written document to designate a mining industry right applicant.

　　A mining industry right applicant shall be an enterprise legal person, and an individual who wishes to exploit mineral resources shall establish a wholly individually-owned enterprise in accordance with the law.

　　Article 20　Conditions and procedures for approving mining industry right applications shall be enforced in accordance with the relevant provisions of the State Council.

　　Article 21　Where the State has determined that the mining industry rights over an area are subject to invitation for bids, no other application for mining industry rights over that area will be accepted.

　　Section Two: Invitation for Bids

　　Article 22　Granting of a mining industry right by invitation for bids means that the winning bidder is awarded, with consideration, the mining industry right from the registration authority through an invitation for bids in accordance with the relevant laws and regulations.

　　Article 23　The registration authority ma

y act as the bid inviting party to directly organize the invitation for bids within its examination and approval authority in respect of mining industry rights, or it may appoint an intermediary as its agent to conduct the invitation for bids.

　　Article 24　If the registration authority adopts the invitation for bids as the method of granting a mining industry right, it shall announce in the State Land and Resources Gazette the specific range of the block or mine field under the invitation for bids, the time of the invitation for bids and the requirements on the qualifications of bidders.

　　Article 25　There shall be a minimum of 20 days from the date of publication of the bid invitation documents to the closing date for the submission of bid documents.

　　Article 26　If the registration authority adopts the invitation for bids as the method of granting a mining industry right, it shall appoint an Appraisal Institution to appraise the mining industry rights. The result of the appraisal, as confirmed in accordance with the law, may be used as the basis for setting the base price for the bidding.

　　Article 27　The registration authority may, depending on the particular mining industry right, set a single-factor base price or multiple-factor base price on the basis of the mining industry right fee, the investment committed or other factors.

　　Article 28　If the base price for the invitation for bids has been set on the basis of the investment committed, the winning bidder shall pay a security bond to a special bank account for security bonds of a bank designated by the registration authority when it completes the registration. The amount of the security bond shall be determined on the basis of a certain percentage of the amount of investment that has been committed by the winning bidder when submitting its bid. The percentage basis for determining the security bond shall be specified in the bidding announcement. The registration authority shall return the security bond in proportion to the amount of the actual investment upon annual inspection. If no investment has been made as committed, the security bond shall not be returned and shall be turned over by the registration authority to the finance department of the same level.

　　Article 29　The registration authority, the bid inviting party and the mining industry right appraisal institution shall keep the appraised value of the mining industry right and the base price for the bidding in strict confidence.

　　Article 30　The registration authority shall establish a bid evaluation committee in accordance with the law to organize the evaluation of bids and determine the winning bidder on the principle of selection of the most advantageous.

　　Section Three: Auction

　　Article 31　Granting of a mining industry right by auction means that in accordance with the principles and procedures prescribed by the relevant laws and regulations, the registration authority appoints an auctioneer to grant the mining industry right to the bidder who makes the highest bid in a public competitive auction.

　　Article 32　The registration authority shall organize auctions of mining industry rights within its examination and approval authority for mining industry rights.

　　Article 33　The block or area the mining industry right over which is to be auctioned, the time of the auction and the requirements on the qualifications of auction bidders shall be determined by the registration authority and announced on the State Land and Resources Gazette.

　　Article 34　If a mining industry right over a mineral resource area formed by exploration is to be granted by auction, the registration authority shall appoint an Appraisal Institution to appraise the mining industry right, and the result of the appraisal as confirmed in accordance with the law may be taken as the reserve price for the auction.

　　Article 35　The auction vend

ee shall pay the relevant fees and the auction price in accordance with the relevant provisions and complete the registration and obtain a licence according to the law within the prescribed time. If the auction vendee fails to pay the fees and the price and complete the registration within the prescribed time, it shall be deemed to have automatically abandoned the purchase, and shall bear the corresponding liability for breach of contract.

　　PART THREE　ASSIGNMENT OF MINING INDUSTRY RIGHTS

　　Article 36　Assignment of a mining industry right means a transfer of the mining industry right by the mining industry right holder, which includes sale, capital contribution, cooperation and restructuring.

　　Leasing and mortgage of mining industry rights shall be administered in accordance with the conditions and procedures applicable to assignment of mining industry rights and shall be subject to examination and approval by the original licensing authority.

　　Article 37　For any types of assignment of mining industry rights, both parties to the assignment must apply to the registration authority and shall complete the procedure for change of registration after the application has been examined and approved.

　　Article 38　A mining right holder shall not transfer its mining right to another party by such way as contracting.

　　Article 39　When a mining industry right formed by exploration with State funding is assigned, the assignor shall use the confirmed appraisal result as the base price for charging the assignee a mining industry right fee or for capital contribution.

　　If a State-owned geological surveying work unit assigns a mining industry right formed by exploration with State funding, a part of the proceeds from the assignment equal to the amount of the actual investment in the exploration shall be credited as additional State funds and the rest of the proceeds shall be credited as revenues of its primary business.

　　If a State-owned mining enterprise treats the proceeds from the assignment of a mining industry right formed by exploration with State funding as State capital, it shall submit a report for approval in accordance with the provisions of the State Council department in charge of geology and mineral resources and the State Council finance department.

　　If a non-State-owned mining enterprise assigns a mining right over a mineral resource area formed by exploration with State funding, the registration authority shall charge a corresponding mining right fee. This provision does not apply to assignments subject to Article 12 hereof.

　　Section One: Sale, Capital Contribution and Cooperation

　　Article 40　Sale of a mining industry right means that the mining industry right holder sells the mining industry right in accordance with the law to another party for exploration and exploitation of mineral resources.

　　Article 41　The capital contribution of the appraised value of a mining industry right means that after pricing the mining industry right in accordance with the law, the mining industry right holder invests it into an enterprise as capital and exercises rights and performs obligations corresponding to the amount of such capital.

　　Article 42　Cooperation in exploration or exploitation means that the mining industry right holder enters into a cooperation contract with another party to introduce the funds, technology, management expertise, etc. of that party, agree upon the rights and obligations of the parties, and jointly explore or exploit mineral resources.

　　Article 43　When a mining industry right holder is restructured into a listed company limited

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