On November 12, 2020, the National Mining Agency issued for comments of the public: (i) the draft Resolution by means of which the Terms of Reference are adopted for the selection of the proposal for the award of Special Contracts for Exploration and Exploitation of Minerals in Areas of Strategic Mining Reserve; (ii) the Terms of Reference as an annex to said resolution; and (iii) the draft Resolution by means of which uniform criteria are established to evaluate the legal, technical and financial capacity of the parties interested in the development of mining projects in the in Areas of Strategic Mining Reserve.

The deadline for submitting comments expires on December 2, 2020.

On the other hand, the Terms of Reference are basically intending to regulate: (i) offered Areas of Strategic Mining Reserve; (ii) Exploratory programs; (iii) incentives for the successful bidders; (iv) economic considerations in addition to royalties; (v) objective selection procedure. However, the draft of the contract to be signed by the successful bidder is still in the process of being drawn up and has not been published by the ANM.

To download the terms of reference, please click here.

To download the draft resolution adopting the terms of reference, please click here.

To download the draft resolution for the evaluation of participants, please click here.