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If no mineral is found after 5 years of exploration, will the exploration rights be invalidated? New regulations give you a chance to renew your life
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Article author：Yingting Lawyers Group | Update time：1970-01-01 | Reading times：156
【Lawyer's Note】In order to help mining companies better understand and use the prospecting rights retention system and protect their legitimate rights and interests, the relevant legal points are summarized as follows:
What is a prospecting rights reservation?
Article 25 of the newly revised Mineral Resources Law in 2024 gives a clear answer: the retention of exploration rights means that the exploration results will be suspended for a while and will not be invalidated because the time expires. During the period of retention of the exploration rights, the calculation of the term of the exploration rights shall be suspended.
According to regulations, if one of the following circumstances is met, the holder of the exploration right may apply for the reservation of the exploration right:
- For the sake of public interest, exploration rights cannot be converted into mining rights for the time being.
- Due to force majeure or other special circumstances, mining conditions are no longer met.
What are the conditions for retention?
It is necessary to meet the exploration level requirements: when applying for the reservation of coal and large-scale non-coal exploration rights with resource reserves of large and medium-sized, it should reach the level of exploration; when applying for the reservation of other exploration rights, it should reach the level of detailed investigation (inclusive) or above.
Yingting lawyer reminds
Beijing Yingting Law Firm reminds: Application for retaining exploration rights must be made within the validity period, and it is recommended to evaluate 6 months in advance. Welcome to consult a team of professional mining lawyers.
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