Gold-mining restrictions
(China Daily)Updated: 2006-12-04 10:44
Gold-mining restrictions
China, the world's fourth-biggest gold mining
country, will raise the threshold for foreign investors in the gold mining
sector to improve the sustainability of the industry, a regulator
says.
According to a source from the National Development and Reform
Commission (NDRC), China will impose restrictions on small foreign investors in
the sector while welcoming larger ones. The source declined to reveal what
measures will be taken, only saying an announcement would be made before the end
of the year.
The regulator also declined to define "small" versus "large"
investors.
"The sector does not need many small foreign investors as
there have been a large number of small Chinese gold miners," the source said on
condition of anonymity. "The new policy is designed to improve the quality of
foreign investment to ensure sustainable development of the sector."
First energy law
The draft of China's first energy law, which will
shape the country's energy policies, will be completed by the end of the year,
sources with the National Development and Reform Commission (NDRC) said last
week.
The law will paint broad brush strokes and not delve into details
of each sector in the industry, according to experts.
A team led by the
NDRC and comprising 15 ministry-level departments was set up at the beginning of
this year to frame the law.
It will override current industry laws such
as the Electricity Law and the Coal Law, and serve as a guideline for the
legislation of any future laws on a certain energy sector, according to Zhou
Dadi, a researcher with the Energy Research Institute affiliated to the
NDRC.
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