Mining laws of United States

The US is a world leader in the production of many important mineral commodities, including copper, pig iron and uranium. National mining legislation includes the National Mining Act 1872, the Surface Mining Control and Reclamation Act 1970s, the Federal Land Policy and Management Act 1976. The Office of Surface Mining regulates surface coal mining. The Mine Safety and Health Administration regularly inspects coal mines... More: Mining laws of United States

Mining laws of Tajikistan

Tajikistan has over 400 explored mineral deposits, containing 70 types of minerals. The JORC code is used for the resource reporting, and the Law on Precious Metals and Stones is the national mining legislation... More: Mining laws of Tajikistan

Mining laws of South Africa

South Africa is the world's largest producer of chrome, manganese, platinum, vanadium and vermiculite. Related mining laws include the SAMREC code, the Mine Health and Safety Act 1996, and the Minerals and Petroleum Resources Development Act 2002... More: Mining laws of South Africa

Mining laws of Russia

Taken together Russia’s extractive industries constitute 33% of Russia’s GDP. The NAEN Code for the Public Reporting of Exploration Results, Mineral Resources, and Mineral Reserves is used as the national reporting standard... More: Mining laws of Russia

Mining laws of Mongolia

The Mongolian State Professional Committee on Mineral Resources ("MSPCMR") and the Committee for Mineral Reserves International Reporting Standards ("CRIRSCO") have formed a joint working group to develop a Mongolian Code for Public Reporting Standard for Exploration Results, Mineral Resources and Mineral Reserves in Mongolia that is compliant with the CRIRSCO template. At present Mongolia’s national mining legislation consists of the 2006 Minerals Law (replacing the 1997 Minerals Law), and Nuclear Energy Law 2009 (regulating uranium exploration and mining)... More: Mining laws of Mongolia

Mining laws of Phillipines

The Philippines is the fifth most mineral-rich country in the world for gold, nickel, copper, and chromite.  The Tampakan copper-gold mine,  located in the Southern Philippines, is the largest undeveloped copper-gold resource in the South-East Asia Western-Pacific region. The Philippines’ Mines and Geosciences Bureau has estimated that the country has an US$840 billion worth of untapped mineral wealth.  Resource reporting in the Philippines is carried out using the Philippine Mining Reporting Code. Mineral exploration, development, utilization and conservation is governed by The Mining Act (1995)... More: Mining laws of Phillipines

Mining laws of Kyrgyzstan

Under Kyrgyzstan law all mineral resources, minerals, except widespread common mineral resources such as mortar sand, limestone, gravel, etc. are owned by the state. Kyrgyzstan does not have a consolidated mining law. Instead a mining activities are regulated by a variety of laws and regulations including, but not limited to, Kyrgyzstan’s Constitution, The Land Code, The Law on Subsoil, The Law on Concessions and Consession Enterprises and the Law on Production Sharing Agreements in Subsoil Use... More:  Mining laws of Kyrgyzstan

Mining laws of Kazakhstan

Kazakhstan's classification system for resources and reserves quite different from recognized international systems such as Australia's JORC Code and Canada’s N1 43-101. Kazakhstan still uses the former Soviet system which categorizes minerals according to the degree to which they have been explored and substantiated (A, B, C1, C2 and P1, P2, P3) on an economic value basis: e.g. "balance reserves" (commercial reserves) and "off balance" (lacking commercial potential). Reserves are subject to approval by the State Reserves Commission without which extraction cannot be started... More: Mining laws of Kazakhstan

Mining laws of European Union

The regulation of the mining sector within E.U states is primarily the responsibility of member states themselves. However, the EU has adopted some legislation specific to mining including the environmental impact of mining (especially waste and groundwater), as well as occupational health and safety. The E.U has also enacted laws restrict the importation of certain ‘conflict’ mineral into the E.U.  As there is no such thing as a common EU mining legislation, each member state specific legislation is of importance to govern mining safety standards in the EU... More: Mining laws of European Union

Key mining legislation of Myanmar

Myanmar has abundant resources of gemstones, gold, silver, amber, antimony, and copper sulphate. Myanmar’s key mining legislation comprises the Myanmar Mines Law No.8/94 and  the Ministry of Mines Notification No.125/96 (more commonly known as the Mining Rules) are outdated. A new draft Mining Law is expected to be introduced in 2015 or 2016... More: Key mining legislation of Myanmar

Key mining Legislation of China

China is the world's leading producer of coal, gold, and most rare earth minerals. However, the country has limited resources for certain commodities, such as high-quality metallurgical coal and nickel. Historically, China’s mining sector has been fragmented, however the Government in recent years the Government has encouraged consolidation to improve efficiency, safety and environmental compliance.  China’s mineral resource and reserve classification system is in the process of being revised to be more in-line with international standards. China’s key mining legislation includes the Mineral Resources Law of the PRC, the Catalogue for Guidance of Foreign Investment in Industry, and China's Policy on Mineral Resources (2003) ... More: Key mining Legislation of China

Mining laws of Chile

Chile's greatest natural resource is its abundance of copper. Chile also has the world's largest deposits of nitrate, which was the country's major source of export income before copper. Chilean Mining Law is regulated by the Chilean Constitution, the Organic Constitutional Law of Mining Concessions, the Chilean Mining Code together with other complementary laws and regulations.  The mining sector is overseen by the Ministry of Mines and the National Service of Geology and Mining. No restrictions are imposed on foreign investment in the Chilean mining sector... More: Mining laws of Chile

Mining laws of Canada

There is no consolidated Canadian Mining Law. Mining is largely regulated through legislation enacted at a provincial or territorial level. , National Instrument 43-101 (t"NI 43-101") is a national instrument for the Standards of Disclosure for Mineral Projects within Canada. National Instrument 43-101 is broadly comparable to the Joint Ore Reserves Committee Code (JORC Code) which regulates the publication of mineral exploration reports on the Australian Stock Exchange …… More: Mining laws of Canada

Mining laws of Australia

Mining Laws of Australia

Mining is a significant primary industry and contributor to the Australian economy. Each of Australia’s States and Territories has its own legislation regulating the exploration for and production of onshore minerals. The Department of Industry and Science has policy responsibility for a number Australia's mineral commodities  including, bauxite, alumina and aluminium, coal diamonds (rough), gold and copper, iron ore, lead and zinc, mineral sands and rare earth, nickel and uranium. Related laws include the JORC Code, the Queensland Mineral Resources Act 1989, the New South Wales Mining Act 1992, the South Australia – Mining Act 1971, the Western Australia Mining Act 1978, the Tasmanian Resources and Development Act 1995, and the Northern Territory of Australia - Mining Management Act.  

Useful links of Oil and Gas

Useful links of Oil and Gas focused publications and websites, such as the Oil and Gas journal, Platts, Society of Petroleum Engineers, International Energy Agency, OPEC, The Independent Petroleum Association of America, The American Petroleum Institute, US Department of Energy, International Association of Drilling Contractors. More: Useful links of Oil and Gas

useful links about mining

Useful links to mining focused publications and websites, such as Mining Journal, global mining China, and InfoMine

Useful links and information about the mining and oil and gas sectors

Usefullinks and information about the mining and oil and gas sectors

Links of Stock Exchanges

Links to Stock Exchanges in Australia, Frankfurt, Hong Kong, London, New York, Shanghai, Shenzhen, Singapore, Taiwan, Tokyo, Toronto...

Links to International Stock Exchanges and Exchange Associations

Links to international stock exchanges and stock exchange associations

Charltons’ Memberships and Affiliations – mining and natural resources

Charltons’Memberships and Affiliations – mining and natural resources

Charltons is a member of the associations dedicated to the study of mineral and petroleum resources law including The Australian Mineral and Petroleum Law Association and  and the Hong Kong Mining Investment Professionals Association (HKMIPA)...

Charltons’ Memberships and Affiliations – legal

Charltons’Memberships and Affiliations – legal

Charltons maintains an association with Boase Cohen & Collins in Hong Kong and is a member of the international legal network Legalink. 

   

Charltons’ Memberships and Affiliations

 Useful links of legal, mining and natural resources

consultation Papers and conclusions

Consultation paper on new listing rules for mineral and exploration companies and Consultation Conclusions on new listing rules for mineral companies ...  More: consultation Papers and conclusions

Frequently asked questions about listing mineral companies on the HKEx

HKEx Listing Rule Requirements relating to Notifiable Transactions, Connected Transactions, Mineral Companies, Issues of Securities and Corporate Governance Code... More: Frequently asked questions about listing mineral companies on the HKEx

HKEx Guidance Letters in relation to the listing of mineral companies

HKEx Guidance Letters in relation to the listing of mineral companies

HKEx Listing Decisions relating mineral and oil and gas companies

HKEx Listing Decisions relating mineral and oil and gas companies

Publications and announcements regarding HKEx listed mineral companies

Listing Decisions, Guidance Letters, Frequently Asked Questions, Consultation Papers ... More: Publications and announcements regarding HKEx listed mineral companies

Shares in respect of Hong Kong listed companies

In respect of a book closure, the Listing Rules require an issuer to publish a notice of the closure of its transfer books or register of members in respect of securities listed in Hong Kong at least six business days (i.e. five clear business days) before the closure in the case of a rights issue, or 10 business days before the closure in other cases... More: Shares in respect of Hong Kong listed companies

Company Matters, Corporate Governance and Directors and Officers

A listed company must publish an announcement as soon as practicable in regard to any proposed alteration of its memorandum or articles of association or equivalent documents. A listed company must make an announcement where the listed company intends to change the place of its registered office, agent for service of notifications, share registrar (including any overseas branch share registrar), secretary, or compliance adviser... More: Company Matters, Corporate Governance and Directors and Officers

Disclosure of notifiable transactions, connected transactions and other transactions

Unless it has received an exemption, a listed issuer is expected to make an announcement in relation to any connected transaction or notifiable transaction it has entered into. The Listing Rules also impose a general disclosure obligation in respect of financial assistance exceeding certain financial thresholds made by a listed company to any entity (or guarantees given on behalf of that entity) which is not a subsidiary of the listed company. Such disclosure must include details of the financial assistance provided , the nature of the transactions, the identity of the debtor group, interest rate, repayment terms and collateral... More: Disclosure of notifiable transactions, connected transactions and other transactions

Chapter 18 of Listing Rules

Pursuant to Listing Rule 18.09, a mineral company proposing to acquire or dispose of assets which are solely or mainly mineral or petroleum assets as part of a relevant notifiable transaction must comply with the provisions of the Listing Rules relating to notifiable transactions and connected transactions, and is expected to make an announcement in relation to proposed transaction... 

More: Chapter 18 of Listing Rules

On-Going Announcement Requirements for Listed Companies

Listed mineral companies are bound by the various provisions of the Listing Rules which impose an obligation on issuers to publish announcements in a wide range of situations. Issuers are required to publish announcements electronically on the Exchange’s website through its e-submission system and on their own websites. Listed mineral companies are additionally bound by the provisions of Chapter 18 of the Listing Rules... 

More: On-Going Announcement Requirements for Listed Companies

Publicity Requirements during Listing Process

Mineral companies are expected to adhere to requirements in relation to publicity during the listing process.  Under the Listing Rules, all publicity materials released in Hong Kong relating to an issue of securities by a new listing applicant must be reviewed by the Exchange before release and must not be released until it has confirmed that it has no further comments... More: Publicity Requirements during Listing Process

Pre-IPO Submission on Suitability for Listing

Pre-IPO submissions are our preferred method for commencing the listing process, particularly in relation to mineral companies which have not yet reached production and will be seeking to take advantage of a waiver from the financial tests for listing under the Exchange Listing Rules... More: Pre-IPO Submission on Suitability for Listing

Advising on Restructuring and Holding Structures

Charltons regularly advises on group restructuring in preparation for listing on the Exchange including spin-offs, demergers and insolvencies.  Pre-IPO reorganisation affords applicants the opportunity to restructure the overall group as desired.  A restructuring mineral company should be aware that it will no longer be defined as a “Mineral Company” under the Listing Rules if less than 25% of its total assets, revenue or operating expenses are connected to the exploration and/or extraction of natural resources... More: Advising on Restructuring and Holding Structures

Director's and Shareholders' Disclosure Obligations of Listed Mineral Companies

The Directors and shareholders of Hong Kong listed resource companies are subject to a series of continuing disclosure obligations. These include a continuing obligation to disclose interests in shares, price sensitive information, and information in relation to issues governed by Chapter 18 of the Listing Rules... More: Director's and Shareholders' Disclosure Obligations of Listed Mineral Companies

Advising mineral company directors

Charltons advises mineral company directors on their responsibilities derived from, The Hong Kong Stock Exchange Listing Rules ("Listing Rules"), including the Code on Corporate Governance Practices (the "Code") and the Model Code for Securities Transactions by Directors of Listed Companies contained therein and summarised here; Common law and applicable legislation, including the Companies Ordinance and the Securities and Futures Ordinance ("SFO"); The Code on Takeovers and Mergers and the Code on Share Repurchases; The directors' Declaration and Undertaking to the Hong Kong Stock Exchange ("Exchange"); and The Companies Registry's Guide on Directors' Duties... More: Advising mineral company directors

Mining Spin-Offs

Mining Spin-Offs can potentially give rise to a number of unique issues.  The board and senior management team of the spun-off company may be required to establish to the Exchange’s satisfaction that, taken together, they have a minimum of 5 years’ experience relevant to the exploration and/or extraction activity that the spun-off mineral company is pursuing. Members of the parent company’s Board and senior management are likely to have to join the spun-off entity... More: Mining Spin-Offs

Listing Rules relating to connected transactions

Chapter 14A (Main Board) and Chapter 20 (GEM) of the Exchange's Listing Rules contain certain safeguards intended to ensure that the interests of shareholders as a whole are taken into account by a listed issuer when the listed issuer enters into connected transactions... More: Listing Rules relating to connected transactions

Managing the listing process in Hong Kong

An IPO is a transformational event in the life of a company; however they are typically time-consuming, challenging and resource draining. The listing process therefore requires a great deal of preparation, planning and coordination... More: Managing the listing process in Hong Kong

Requirements Regarding Control Over Mining Assets

A mineral company seeking listing on the Exchange must be able to demonstrate that it has the right to actively participate in the exploration for and / or extraction of resources either through control over a majority (by value) of the assets in which it has invested together with adequate rights over the exploration for and / or extraction of resources; or adequate rights arising under arrangements acceptable to the Exchange, which give it sufficient influence in decisions over the exploration for and/or extraction of the resources. Control is normally taken to mean an interest of more than 50% ... More: Requirements Regarding Control Over Mining Assets

Valuation of Mineral Properties

The Listing Rules do not require a valuation report to be provided at the IPO stage. Valuation reports must however be included in the circular to shareholders where mineral or petroleum assets are acquired as part of a major acquisition... More: Valuation of Mineral Properties

listing requirements relating to resources and reserves

A new applicant mineral company will be required to have at least a portfolio of "Indicated Resources" (in the case of minerals) or"Contingent Resources" ( in the case of petroleum) that are identifiable under one of the accepted reporting standards and substantiated in the report of an independent suitably qualified expert... More: listing requirements relating to resources and reserves

Management requirements for mineral companies listed on the Main Board or GEM in Hong Kong

A new applicant mineral company that cannot satisfy the Profit Test, Market Capitalization Test /Revenue Test /Cash Flow Test, or Market Capitalization/Revenue Test described in the section Key Requirements For Listing may still be accepted for listing if it establishes to the Exchange's satisfaction that its directors and senior management, taken together, have a minimum of 5 years' experience relevant to the exploration and/or extraction activity that the mineral company is pursuing... More: Management requirements for mineral companies listed on the Main Board or GEM in Hong Kong

Key Requirements for listing mineral companies on the Main Board of Hong Kong Stock Exchange

To list on the Main Board of the Exchange, the mineral company must have: A trading record of not less than three financial years, management continuity for the last three financial years, ownership continuity for at least the most recent audited financial year, and satisfy one of the Profit Test, Market Capitalization Test /Revenue Test /Cash Flow Test, or Market Capitalization/Revenue Test... More: Key Requirements for listing mineral companies on the Main Board of Hong Kong Stock Exchange

Requirements for listing mineral and petroleum companies in Hong Kong

A mineral company can seek to list by meeting one of the financial track record requirements ("Track Record Tests") set out under Rule 8.05 of the Listing Rules. A mineral company that cannot satisfy one of Track Record Tests such as exploration and pre-production stage companies, may still apply to be listed if it can establish that the combined experience of its directors and senior managers is sufficient and relevant to the exploration for and/or extraction activity that the applicant is pursuing... More: Requirements for listing mineral and petroleum companies in Hong Kong

Cost of listing on the Main Board or GEM in Hong Kong

The cost of listing on the either the Main Board or the GEM will differ according to factors such as the issuer’s size, the amount of funds to be raised, the nature of the listing (i.e. primary, secondary or backdoor listing), and the issuer’s jurisdiction of incorporation... More: Cost of listing on the Main Board or GEM in Hong Kong

Pre-IPO Investments in Hong Kong

A key part of the IPO process is securing subscribers for shares or other securities either before or as part of the IPO. Strategic investors provide valuable interim capital to companies on route to a listing and lend credibility to an offer encouraging further institutional and public interest... More: Pre-IPO Investments in Hong Kong

Listing of Debt Issues to Professional Investors Only

Chapter 37 of the Listing Rules deals with listing debt securities that are offered only to professional investors and not to public investors in Hong Kong. Such debt listings are referred to in the Rules as listings by selective marketing... More: Listing of Debt Issues to Professional Investors Only

Tap Issues, Debt Issuance Programmes and Asset-Backed Securities

Where application is made by an issuer for listing of a tap issue, the Exchange will normally apply the same requirements for each subsequent tranche as applied to the initial tranche. Any listing document issued in connection with a tap issue must specify the maximum nominal amount of debt securities which could be issued ... More: Tap Issues, Debt Issuance Programmes and Asset-Backed Securities