Guidelines for Formulating Benchmark Market Price of Income from Mining Right Transfer Was Printed and Issued

In early October, Ministry of Natural Resources printed and issued Guidelines for Formulating Benchmark Market Price of Income from Mining Right Transfer (referred to as Guidelines in short), which rules that natural resource management departments of all provinces (districts and municipal cities) and Natural Resource Bureau of Xinjiang Production and Construction Corps formulate benchmark market price of income from mining right transfer in local area according to requirements. The benchmark price ought to be approved by province-level governments and then be announced and implemented, and ought to be put on record to Ministry of Natural Resources. The Guidelines indicates that the formulation of the benchmark price should be based on combining the expected revenue in the context of current technical and economic situation, mining right market and related information. It is also necessary to collect and analyze materials, select appropriate evaluation methods before classifying and determining benchmark price in local area. When carrying out evaluation, we ought to follow guidelines for evaluation on the income from mining right transfer and mining right evaluation criteria to select appropriate evaluation methods. When determining benchmark price based on the expected revenue in the context of current technical and economic situation, we need to follow mining right evaluation criteria to select appropriate evaluation method for income approach.