Wedoany.com Report on Mar 2nd, Recently, Nantong City in Jiangsu Province, China, successfully transferred four geothermal mining rights through the online natural resource trading platform using the "clean mining" mode. This marks the first time in Jiangsu Province that mining rights have been publicly transferred using a model combining the initial transfer price with annual royalty-based collection. The project strictly adheres to the "clean mining" transfer standards, balancing ecological protection with economic benefits.
These four geothermal mining rights are located in Rudong County, Nantong City, with a total transaction price of 24,510 yuan. Based on estimated recoverable reserves, the expected transfer revenue exceeds 40 million yuan, and it recoups the upfront exploration costs of 22.24 million yuan. The project covers multiple application areas, including industrial empowerment, tourism support, and public service provision. It is expected to attract over 1.5 billion yuan in investment and promote the development of industries such as hotels, health and wellness therapy, vacation and leisure, and ecological agriculture.
Prior to the transfer, local government authorities organized a dedicated task force involving departments of natural resources, ecological environment, and forestry. They completed preparatory work such as geological surveys, boundary delineation, clarification of ownership rights, and avoidance of ecological red lines, ensuring the mining areas are free from disputes and approval obstacles. The trading system automatically verifies the credit status of bidders, prohibiting participation by entities subject to dishonesty penalties or those with severe illegal and untrustworthy records, thereby safeguarding market fairness and standardization.
The transferred geothermal mining rights have a term of 20 years and employ a new revenue model combining the initial transfer price with annual royalty-based collection. This innovation significantly reduces the initial financial pressure on mining right holders and stimulates market vitality. Throughout the entire lifecycle, enterprises will pay transfer revenues annually based on the royalty rate, easing their financial burden while safeguarding the ownership rights of the state over mineral resources and supporting the sustainable development of the mining industry. According to reports from China Mining News, this initiative provides a model for mining management in Jiangsu Province.
