Under the Mineral Law, mining activities
consist of exploration and mining, which now
encompass mineral processing. While the
mineral licensing authority has been mostly
centralised to the Ministry Natural Resources
and Environment (MNRE), provincial people’s
committees only have the authority to
approve the mineral survey and obtaining
samples, mining licences for common
construction materials and peat, scattered/
low reserve minerals as set out by MNRE.
Exploration and mining licences will be
auctioned except for exemption areas
delineated by the state on energy security
and national security grounds. With respect
to the licensing procedures, the Mineral Law
and Decree 15 extend the term of the
exploration licences from 24 to 48 months
and additionally require the licensees’ debt/
equity ratio of 50/50 for exploration and
70/30 for mining projects. The mining right
transfer procedures are also set out in a
clearer manner. Furthermore, the new
mineral regime requires the mining licensee
to pay a mining fee upon the issue of a mining
licence in either a one-off payment or annual
instalment method at the licensee’s
discretion.