Wedoany.com Report on Feb 9th, learned from the Sichuan Provincial Department of Natural Resources that the department has officially issued a notice to launch the application process for pilot projects involving social capital investment in strategic mineral surveys. This means that the field of basic geological surveys, which has long been dominated by fiscal investment, is accelerating its opening to social capital.
According to the notice, project applicants must submit relevant materials by March 31, 2026. To improve application efficiency, the Sichuan Provincial Department of Natural Resources is simultaneously providing a pre-query service for the scope of applied projects. So far, six units have formally submitted application materials, and more than ten others have clearly expressed their intention to apply, indicating a positive market response upon the launch of the pilot work.
One of Four Pilots in China, Sichuan Takes the Lead
As one of the four pilot regions in China for social capital participation in strategic mineral surveys, Sichuan had previously issued a special implementation plan, systematically outlining the pilot areas, mineral types, and implementation pathways.
According to the plan, this round of pilots will be carried out in nine cities (prefectures), including Panzhihua, Mianyang, Guangyuan, Dazhou, Bazhong, Ya'an, Aba, Ganzi, and Liangshan, focusing on strategic metal minerals such as iron, copper, nickel, and gold. These areas have excellent metallogenic conditions and are important resource continuation zones for Sichuan and even China.
"Order-Based" and "Crowdfunding-Based": Two Models Progress in Parallel
In terms of implementation mechanisms, Sichuan's pilot innovatively introduces two geological survey models: "order-based" and "crowdfunding-based," providing differentiated participation paths for social capital.
Among them, "order-based survey projects" are funded by geological exploration units or mining enterprises themselves, following the principle of "whoever applies, implements." Enterprises can precisely target exploration directions based on their own development needs.
"Crowdfunding-based survey projects" are led by state-owned enterprises under the Sichuan Provincial Government, jointly invested with social capital, focusing on four nationally scarce mineral types: nickel, chromium, tellurium, and bismuth, aiming to break through key resource bottlenecks through large-scale and organized approaches.
All survey projects must strictly adhere to green exploration requirements, with implementation cycles原则上 not exceeding one year, ensuring efficiency while balancing ecological protection and sustainable development.
Exploration Results Can Be Quickly Transferred, with Maximum Incentives of 50 Million Yuan
A major highlight of this pilot is the establishment of a clear and predictable mechanism for result transformation and incentives.
Proposed transfer blocks formed by survey projects will be uniformly included in a transfer project database after completing procedures such as demonstration and grading, and原则上 organized for public transfer within three months, effectively shortening the result transformation cycle.
Regarding profit distribution, Sichuan has innovatively established a tiered incentive compensation mechanism. Based on the transaction price of the mining right transfer, the successful bidder of the mining right must separately pay tiered incentive compensation to the survey unit, which can reach up to 50 million yuan and must be paid in a lump sum before the exploration right registration. Additionally, the survey unit can negotiate with the successful bidder to convert the upfront investment costs into equity shares, deeply participating in subsequent exploration and development.
Breaking the Single Fiscal Investment Model, Social Capital Gains a New Channel
Industry experts point out that basic geological surveys have long relied mainly on fiscal investment, with social capital lacking effective entry channels. To build a diversified investment mechanism, the Ministry of Natural Resources has deployed pilot work for social capital participation in strategic mineral surveys. Building on this, Sichuan has taken the lead in exploration, proposing the "order-based" and "crowdfunding-based" models, which have strong demonstration significance.
For social capital, this mechanism not only expands new pathways for participating in strategic mineral surveys but also significantly enhances the predictability of investment and the flexibility of returns through the design of incentive compensation and equity participation.
Market Responds Positively, Multiple Projects Enter Practical Implementation Stage
The reporter learned that since the notice was issued, the pilot work has received high attention from social capital both inside and outside the province. Many mining enterprises and geological exploration units have inquired about policy details through phone consultations and on-site meetings.
"The Sichuan Provincial Department of Natural Resources has cumulatively answered dozens of inquiries covering project application procedures, fund incentive compensation standards, and block optimization directions," introduced a relevant person in charge of the provincial department.
Currently, three application projects have been formally accepted, and another 19 projects are undergoing scope pre-queries, involving five cities (prefectures) within the province and covering mineral types such as gold, copper, lead, and zinc.
To Hold Thematic Consultation Meetings, Providing "Nanny-Style" Guidance
To further strengthen policy promotion and provide precise services, the Sichuan Provincial Department of Natural Resources stated that it will soon hold a consultation meeting on pilot work for social capital investment in strategic mineral surveys. Through centralized policy interpretation, building communication platforms, and on-site Q&A sessions, the aim is to promote a batch of pilot projects to complete applications and be implemented as soon as possible.
