Government proposes mining bill

The bill proposes a public tender for bids for exploration activities and the issuance of a concession for exploitation of raw minerals instead of the current three tenders for exploration, defining exploitation fields and for the issuance of a concession. Now miners conducting exploration will be guaranteed rights to exploit their findings.

Exploitation concessions are to be limited to 40 years when the mining field must be shut down and the area restored.

Concessionaires will have to submit a guarantee fund to cover the costs of restoring the mining field prior to signing a contract.

If a concessioner does not engage in exploiting the mine the concession will be cancelled.

(Hina)