Late payment fees for mining rights transfer income will be canceled starting from August 1: A life-saving policy from the boss who owes arrears is here!

1. Introduction of pain points

"Owed 20 million yuan, the late payment fee rolled up to 50 million yuan, and the company was directly dragged down" - this is a real case that the author has seen. Late payment of mining rights transfer proceeds, and unlimited late payment fees with "compounding interest" have caused many mine owners to go bankrupt.

Here comes the good news. On June 26, 2026, the Ministry of Finance, the Ministry of Natural Resources, and the State Administration of Taxation jointly issued a notice,Starting from August 1, 2026, the late payment fee system for mining rights transfer income will be cancelled..

2. Core changes in the new regulations

1. The late payment penalty system is officially cancelled.

Old regulations: The Mineral Resources Law and related supporting documents stipulate that if the proceeds from the transfer of mining rights are not paid on time, a late payment fee of two thousandths per day will be charged from the date of delay. In practice, the cumulative amount of late payment fees often exceeds the principal itself.

New regulations: Starting from August 1, 2026, the late payment penalty system will be completely canceled and a liquidated damages mechanism will be established instead.

2. There is a hard upper limit on liquidated damages

Core of new regulations: For the amount that has not been paid after August 1, a liquidated fine of 0.02% will be charged on a daily basis, butThe total amount of liquidated damages shall not exceed the principal amount owed.

For example: An enterprise owes RMB 10 million in transfer proceeds and has incurred late payment fees of RMB 8 million as of the implementation date of the new regulations. After the implementation of the new regulations, liquidated damages will continue to be calculated at a rate of two ten thousandths per day, but the total liquidated damages plus principal shall not exceed 10 million yuan.

3. Optimization of agreement transfer pricing rules

• For mineral lands formed through state-funded exploration, the evaluation method is more reasonable.
• The starting price is determined by taking exploration costs into consideration to avoid “selling minerals at a low price”
• The starting price of minerals outside the catalog is "determined from a high level" to prevent the loss of state-owned assets

3. What to do about historical arrears?

Important tips: Late payment fees incurred before August 1st are not exempted and must still be paid in full.

It is recommended that enterprises in arrears take immediate action: 1. Verify the historical arrears amount and late payment fine details 2. Pay proactively before August 1 and strive to reduce the penalty 3. If you have objections to the historical late payment amount, you can apply for review

4. Lawyer’s point of view

The author reminds three points:

First, the new regulations are not a “debt forgiveness order”. Historical arrears and late fees before August 1st still need to be paid in accordance with the law. Enterprises should not make the mistake of thinking that the introduction of new regulations will make them “flat”.

Second, the liquidated damages mechanism is a “double-edged sword”. Although there is an upper limit for protection, the accumulation of liquidated damages of 20,000 per day cannot be ignored. It is recommended that enterprises establish a complete financial early warning mechanism to avoid new liquidated damages due to negligence.

Third, active communication is safer than passive waiting.. If you really have difficulty making a one-time payment with a large amount, you can try to negotiate an installment payment plan with the natural resources authority.

5. Enlightenment from private enterprises

Suggestions - Check immediately to find out the historical arrears and late fees and pay proactively. Try to settle the historical arrears before August 1. The new regulations will apply. Arrears after August 1 will be calculated according to the new regulations. Risk prevention. Establish a transfer income payment reminder mechanism.