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	MEASURES FOR THE ADMINISTRATION OF THE STATE-OWNED CAPITAL INCREASE FROM THE PAYMENTS FOR MINERAL PROSPECTING RIGHT AND MINING RIGHT (2004 REVISION)

	(Notice of the Ministry of Finance and the Ministry of State Land and Resources about Printing and Distributing the Measures for the Administration of the State-owned Capital Increase from the Payments for the Mineral Prospecting Right and Mining Right (No.262 [2004] of the Ministry of Finance), August 17, 2004: With a view to encouraging the exploration and exploitation of mineral resources, promoting the development of the mining and the geological prospecting industries, maintaining the rights and interests relating to state-owned assets, the Measures for the Administration of the State-owned Capital Increase from the Payments for Mineral Prospecting Right and Mining Right (No.439 [2000] of the Ministry of Finance) have been amended pursuant to the Measures for the Administration of Registration of the Exploration Areas of Mineral Resources (Order No. 240 of the State Council), the Measures for the Administration of Registration of the Mining of Mineral Resources (Order No. 241 of the State Council), the Measures for the Administration of Transfer of the Mineral Prospecting Right and Mining Right (Order No. 242 of the State Council) as well as other related laws and regulations)


SUBJECT : MINERAL PROSPECTING RIGHT AND MINING RIGHT; AMENDMENTS
ISSUING DEPARTMENT : MINISTRY OF FINANCE, MINISTRY OF LAND AND RESOURCES OF THE PEOPLE'S REPUBLIC OF CHINA
ISSUE DATE : 08/17/2004
IMPLEMENT DATE : 08/17/2004
LENGTH : 478 words
TEXT :

Article 1. The present Measures are formulated pursuant to the Measures for the Administration of Registration of the Exploration Areas of Mineral Resources (Order No. 240 of the State Council), the Measures for the Administration of Registration of Mining of Mineral Resources (Order No. 241 of the State Council), the Measures for the Administration of Transfer of the Mineral Prospecting Right and Mining Right (Order No. 242 of the State Council) as well as other related laws and regulations for the purpose of maintaining the rights and interests relating to the state-owned assets, encouraging the exploration and exploitation of mineral resources and promoting the development of the mining and the geological prospecting industries.

Article 2. The present Measures shall be applicable to the administration of the state-owned capital increase arising from the payments for mineral prospecting right and mining right to the mine areas which resulted from the exploration financed by the central finance.

Article 3. When any state-owned or state-holding enterprise (hereinafter referred to "state-owned enterprise") or state-owned geological exploration entity applies for selling or any state-owned enterprise plans to sell the mineral prospecting right and mining right to the mine areas which resulted from the exploration financed by the state, they may apply for part or whole increase of the state capital (state funds) from the payments for mineral prospecting right and mining right, which shall be submitted upon occurrence of any of the following circumstances:

(1) complying with the scope of mineral resources which are encouraged to be explored and exploited as specified in the Catalogue of Industries, Products or Technologies Currently Particularly Encouraged by the State for Development;

(2) exploring and exploiting mineral resources within the poverty-stricken areas specified by the State;

(3) subscribing capital or buying shares with the payments for mineral prospecting right and mining right when the state-owned enterprises merge, divide, run jointly or cooperatively with others, or carry out reorganizations;

(4) exploring and exploiting alternate resources at the depth or periphery of the mining areas by the large or medium mine enterprises because the resources are exhausted;

(5) transferring the mineral prospecting right and mining right due to such natural calamities as force majeure; or

(6) any other circumstance allowed to increase the state capital from the payments for mineral prospecting right and mining right precisely stated by the State.

Article 4. When a state-owned geological exploration entity plans to sell the mineral prospecting right and mining right to the mine areas which resulted from the exploration financed by the state, it may increase the state capital (state funds) with the state actual investment amount within the transfer payments after handling the examination and approval formalities for the transfer and reporting for approval pursuant to the procedures as specified by the present Measures, and the outstanding surplus shall be dealt with according to the current accounting system.