China publishes procedure for FDI in mineral exploration

It is reported that the China¡¯s Ministry of Commerce and the Ministry of State Land and resource recently jointly published a procedure on the management of foreign invested mineral exploration enterprises, which will be effective as of August 20th.

As per report, the procedure stipulates that Chinese government encourages foreign investors with mineral exploration experiences or financing ability to invest in mineral exploration.

The procedure also encourages foreign invested enterprises to adopt new and high technology to engage in mineral exploration and encourages them to play a positive role in the sustainable development of mineral sector.

Foreign funded mineral exploration enterprises can make geological exploration after they got the state-owned geological exploration. They should submit related documents to Chinese government and they can only enter the permitted regions to make explorations.

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