Mineral Right Trading Rules.

These Rules are developed under the Mineral Resources Law of the People's Republic of China, the Auction Law of the People's Republic of China, the Bidding Law of the People's Republic of China, the Measures for the Registration of Mineral Resource Prospecting Parcels, the Measures for the Registration of Mineral Resource Exploitation, the Measures for the Transfer of Prospecting Rights and Mining Rights, for purposes of further regulating the trading of mineral rights, ensuring open, fair and equitable mineral right trading, and protecting the rights and interests of the state and mineral right holders. The Rules consist of 8 Chapters: General provisions; Public notice; Form and process of transaction; Confirmation and suspension, termination; Public disclosure; Transaction supervision; Liabilities for breach of contract and dispute resolution; Supplementary Provisions.
For the purpose of these Rules, mineral right refers to prospecting right and mining right, and mineral right trading refers to the assignment of mineral rights by the land and resources departments of the people's governments at or above the county level or transfer of mineral rights by mineral right holders.
The assignment of a mineral right by bidding, auction, or listing shall, to the extent of the approving power, be undertaken at the mineral right trading platform at the same level, or authorized by the land and resources department. Where a mineral right subject to the power of registration of the Ministry of Land and Resources needs to be assigned by bidding, auction, or listing, the Ministry of Land and Resources shall organize and undertake the assignment, or, if the mineral right is not in oil or gas, a provincial land and resources department authorized by the Ministry of Land and Resources, shall organize a mineral right trading platform to undertake the assignment.