The Current Mining Act and the New Bill

The current Mining Act, enacted by Law 14/2002, of 26 June (the “Mining Act”), has the core objective of regulating the terms of exercise of the rights and duties related to the use and benefit of mineral resources bearing in mind the environment, with a view to their rational use for the benefit of the national economy.

However, with a view to a credible process for obtaining rights and duties in the mining sector and taking into account the current economic status of the country, as well as the latest developments seen in the mining sector, the new Mining Bill (the “Bill”) which was until very recently under discussion, for subsequent submission to the Parliament, brings some amendments to the legal framework on which we shall focus our approach.