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China Mineral Right Fee can be paid by annual “installment”

July 5, 2017  |   Source:China Aggregates Net
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In the past decades China, generally a company shall pay the Mineral Right Fee after bidding finished once and for all, which stopped many companies with less cash flows from entering mining sector.

To ease the pressure on major economy participators, China Ministry of Finance and Ministry of Land Resources issued new principle to collect mineral right fee.

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According to the new principle, mineral right fee includes exploring right fee and exploiting right fee. If collected by money, the fee shall be paid once and for all when less than a certain amount, while if the fee exceeded the certain amount it can be paid annually like installment with 20% paid first.

And there is another way to pay mineral right fee, it is to transfer certain rates of your products sales every year, like profit sharing.

The new principle took effect on 1st July 2017, and the mentioned certain amount and rate are subject to calculation by provincial level finance and land resource department according to their unique economic status.

Editor: David Zhao

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