Core Points - The newly revised Mineral Resources Law officially took effect on July 1, emphasizing the importance of regulating mineral resource management and promoting green and high-quality development in the mining industry [1] - The law establishes a special protection system for strategic mineral resources, which are crucial for national economic security, defense security, and the development of strategic emerging industries [1] Group 1: Market Regulation and Resource Management - The new law emphasizes a dual focus on resource development and environmental protection, highlighting the market-oriented allocation of resources [3] - It introduces a competitive bidding and auction system for exploration and mining rights, reinforcing the principle that the market plays a decisive role in resource allocation [3] Group 2: Direct Transition from Exploration to Mining - The law addresses concerns of exploration rights holders regarding the conversion of exploration rights to mining rights by establishing a "direct access" system [5] - This system allows exploration rights holders to directly obtain mining rights upon discovering mineral resources, removing legal obstacles for conversion [7] Group 3: Specific Regulations for Fluid Minerals - The law introduces a "combined exploration and mining" system specifically for fluid minerals like oil and natural gas, allowing exploration rights holders to commence mining upon discovery, provided they complete the necessary procedures within a specified timeframe [9] Group 4: Ecological Restoration and Management - The new law mandates strict management of ecological restoration processes in mining areas, shifting from end-of-pipe treatment to proactive source protection [10] - It encourages mining rights holders to transition from passive remediation to active prevention and comprehensive system management [10] Group 5: Investment and Exploration Growth - Since 2024, over 80 policy documents have been issued to encourage and support mining rights holders in increasing reserves and production, leading to significant breakthroughs in exploration [12] - During the 14th Five-Year Plan period, investment in mineral exploration has seen rapid growth, with total funding exceeding 400 billion yuan, of which over 90% comes from social capital [14] - As of mid-2023, most mineral types have met their exploration targets ahead of schedule, achieving breakthroughs in resources needed for emerging industries [16]