Regulations of Yunnan Province on Mineral Exploration & Mining Developed by Using Foreign Investment
Regulations of Yunnan Province on Mineral Exploration & Mining Developed by Using Foreign Investment
Regulations of Yunnan Province on Mineral Exploration & Mining Developed by Using Foreign Investment
Announcement of the 9th Standing Committee of the Yunnang Province People's Congress No.27
July 29, 1999
Article 1 In order to promote the mining industrial economy of Yunnan province and encourage the foreign business to invest in exploring and mining mineral resources within the territory of Yunnan province, the regulation hereunder is formulated in accordance with the Mineral Resources Law of the People's Republic of China and the other pertinent laws and regulations based on the realities of Yunnan province .
Article 2 These regulations are applicable for any foreign establishment that intends to invest for exploring and mining mineral resources in Yunnan Province .
Article 3 Those provincial departments which are in charge of geology and mineral resources shall be responsible for administering the exploration and mining of mineral resources developed by using foreign investment, and provide the foreign party with necessary information for business invitation projects and the area information projects and the area information on the prospective ore district, as well as the regional geological investigation report and foundation drawing that are related to the project to be explored and mined within the province.
The local prefecture (municipal, county) people's governments shall be in charge of supervising and administering the exploring and mining mineral resources within its respective administrative area .
Article 4 Foreign business is encouraged to invest in exploring and mining mineral resources within the provincial administrative area, subject to the minerals unopened to the foreign business.
On the basis of the developed actuality of mining industry in the province, the province, the provincial people's government may designate district for establishing mining industrial development & experimental district, and work out a specific measure for administrating the mining industrial development and experimental district according to laws.
Article 5 Any foreign business shall be encouraged to sole invest in exploring and mining mineral resources, or work in association in the terms of joint funds or cooperation with other enterprises or economic entities, or invest by adopting other legal means.
The licensee of exploration or mining may revalue his given right of exploration or mining as an investment to enter jointly exploring and mining mineral resources with foreign business.
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