A mining agreement shall be signed between an exploration permit holder and the state with a view to developing and mining or financing a new mineral deposit.
The mining agreement shall be signed, on behalf of the state, by the minister in charge of mines and, on behalf of the other parties to the agreement, by their legal representatives.
The mining agreement referred to above shall be drafted according to a standard format approved by regulation. It shall comprise:
- The purpose, justification and scope of the projects involved;
- The site where the infrastructure required for mining activities will be established;
- A detailed description of the activities to be carried out under the mining agreement and the technical and financial requirements for their implementation;
- The duration of the mining agreement and the relevant renewal, non-renewal, extension, termination, expiry, renunciation and force majeure conditions;
- Procedures for implementing transfer conditions;
- The rights and obligations of parties to the agreement, establishing, where necessary, the difference between the rights and obligation of bodies designated by the state to manage its commercial interests and the sovereign rights of the state;
- The terms and conditions for granting, renewing and withdrawing licenses and permits required to carry out the activities provided in the mining agreement etc.
Apart from the provisions contained in the standard agreement, other provisions may be negotiated by mutual agreement between the parties, in accordance with the laws and regulations in force.
The duration of the mining agreement shall correspond to that of the mining title.