MLR Announces Circular of Ministry of Land and Resource on Issues Concerning Strict Control and Regulating of Administration on the Mining Right Transfer by Agreement

On May 15, the Ministry of Land and Resource (the "MLR") announced the Circular of the Ministry of Land and Resource on Issues Concerning Strict Control and Regulating of Administration on the Mining Right Transfer by Agreement (the "Circular").

As required in the Circular, land and resource authorities at all levels shall adhere to the principle of transferring mining rights in public according to laws and regulations through market competition, such as bid invitation and auction, control on a strict basis the scope, authorization of examination and approval, as well as procedure of mining right transfer by agreement, so as to reduce the number of such transfers and to promote the development of the mining right market.

(Source: www.mlr.gov.cn)