In order to implement the Provisional Measures for the Administration of Levying Gains on the Transfer of Mining Rights, in accordance with the requirements of the Ministry of Land and Resources, China Association of Mining Right Assessors has promulgated the Guidance on the Application of Appraisal of the Benefit of Transfer of Mining Rights (Trial) ("the Guide") .
The Guide clarifies that the revenue from the transfer of mining rights is the income from the state-owned resources that is used by the state according to law for granting the exploration rights and mining rights to the prospectors and the mining rights holders based on the ownership of the mineral resources. Mining rights transfer income assessment refers to the assessment of mining rights and mining rights assessment professionals, according to the commission, in accordance with the relevant laws and regulations, follow the mining rights evaluation criteria for the appointment of mining rights at an agreed assessment of the transfer of earnings at a moment to assess, estimate and issue Professional Services for the Evaluation Report on the Benefit of Transfer of Mining Rights. At least two mining rights appraisers shall be appointed by the mining rights appraisal institution for carrying out the business of appraising the income from the transfer of mining rights. The appraisal report on the proceeds from the appropriation of the mining rights shall be signed and affixed by at least two mining rights appraisers who undertake the business, Institutional seal.
According to the Guide, the procedures for assessing the proceeds from the transfer of mining rights include: making a clear assessment of basic business matters, signing an appraisal commission contract, preparing an assessment plan, due diligence, collecting assessment data, assessing estimates, preparing and issuing assessment reports.
The Guidelines also make new assessments on evaluation methods and evaluation parameters, determination of appraised value of proceeds from the transfer of mining rights, assessment and appraisal of the proceeds from the transfer of mining rights by increasing the reserves of mineral resources, and the refund and refund of mining rights Provisions.
