The Amendment Law amended some of the major provisions of the
Mining Law (published in the Official Gazette, dated June 15,
1985 and numbered 18785) including among others: (i)
mine groups and validity terms of the exploration and operation
licenses, (ii) royalty rates, (iii) main
principles of licensing, (iv) terms and conditions
regulating mine lease agreements ("rödövans
sözleşmesi"), (v) sanctions,
and (vi) rules on payment of the license fees.
The main issues and novelties regulated under the Amendment Law
may be summarized as follows:
The Amendment Law reclassifies the mine groups and removes
Group VI that covers radioactive minerals. The Amendment Law also
envisages that existing licenses for Group VI shall be licensed
under Group IV.
It also amends the validity terms of exploration and operation
licenses and foresees a two-year feasibility period following the
detailed exploration period for Group IV (b), (c) and (ç)
Furthermore, the Amendment Law changes the royalty rates for
mine groups and envisages separate royalty rates for some minerals
(e.g. gold, copper, silver, aluminium) within the scope of
the Group IV.
The Amendment Law foresees major amendments as to the licensing
process in accordance with all mine groups excluding Group II (b)
and Group IV mines. Pursuant to the new rules, licenses for Group
II (b) and Group IV mines will be granted through a tender process
in place of the general licensing system as to which mining
licenses are granted by the General Directorate of Mining Affairs
(the "General Directorate").
As per the Amendment Law, mine lease agreements executed
between the license holders and third parties becomes subject to
the approval of the General Directorate. Accordingly, the existing
mine lease agreements shall also be presented to the General
Directorate within a period of three (3) months as of the effective
date of the Amendment Law; otherwise mining activities that are
carried out within the scope of such mine lease agreement shall be
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
In general terms, a "corporate" power purchase agreement refers to a contractual arrangement whereby independent generators (typically renewable) and corporates that are large energy consumers, contract for the sale of power to that consumer.
This short note is to introduce two detailed papers that discuss the justification for the development of an Asian LNG reference price that is not benchmarked against the current ‘Japanese Crude Cocktail' and suggests an approach to how that might be achieved. A short summary of the two papers is provided below.
Hydrocarbon resources are typically owned by the state.
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).