Amendments Introduced To The Mining Law

Mining Law No. 3213 ("Mining Law") was amended with the Law Amending the Mining Law and Other Laws No. 6592, which was published in the Official Gazette on 18.02.2015 ("Amendment Law"). The Amendment Law has introduced significant changes, affecting a range of subjects the Mining Law regulates, from licensing to fees. To list a few of the modifications, mining licenses may now be transferred with the approval of the Ministry of Energy and Natural Resources ("Ministry"). Royalty agreements executed between license holders and third parties are also subject to the Ministry's consent. Except for public entities, royalty arrangements are prohibited for production of underground coal mines. Current royalty agreements must be notified to the General Directorate of Mining Affairs ("Directorate") within three months following the entry into force of the amendments, or else relevant mining activities would be put to halt. Term extension requests made by license holders