News & Analysis as of

Minerals

DMR approves sale of IFMSA's Lesedi Mine to Samancor

by Hogan Lovells on

International Ferro Metals (SA) Pty Ltd (IFMSA) went into business rescue on 26 August 2015. Its ferrochrome smelter and dedicated Lesedi Mine fell victim to a combination of economic, regulatory and socio-political factors...more

Energy Newsletter - June 2017

by King & Spalding on

Mineral and Royalty Interest MLPs: An Alternative Exit For PE-Backed Mineral and Royalty Interest Cos. - Oil and gas exploration companies no longer have to go door-to-door, or ranch-to-ranch, to negotiate oil and gas...more

What Does Your Reservation Clause Mean?

by Locke Lord LLP on

Webb et al. v. Martinez (Tex. App. San Antonio) - On December 14, 2016, San Antonio’s Fourth Court of Appeals affirmed the trial court’s take-nothing summary judgment regarding a property dispute in favor of Martinez. Webb...more

Converting Environmental Liabilities to Assets: Repurposing Inactive and Abandoned Mine and Mineral Processing Sites

by Sullivan & Worcester on

Under the Brownfields Law of 2002, EPA and other federal agencies have established a variety of programs focused on promoting and funding the repurposing of abandoned mine lands (AMLs), broadly defined as lands, waters, and...more

Contract of Work for IUPK OP: A Tough Decision

by White & Case LLP on

The Indonesian government ("Government") has issued a number of regulations to implement its mining policy, including GR 1/of 2017. In moving towards a single Special Mining Permit Operation Production license (IUPK...more

New Indonesian Regulation on Mining Divestment Process

by White & Case LLP on

The Indonesian Minister of Energy and Mineral Resources ("MEMR") recently issued further regulations to reflect changes to the divestment process introduced under Government Regulation No. 1 of 20171 ("GR 1/2017"). This...more

New mining regulations: back to the past

by Allen & Overy LLP on

The Government of the Republic of Indonesia on 11 January 2017 issued new mining regulations regulating (i) ‘new’ share divestment requirements for foreign investment companies holding an IUP or IUPK; and (ii) new export...more

What Does Your Reservation Clause Mean?

by Locke Lord LLP on

Webb et al. v. Martinez (Tex. App. San Antonio) - On December 14, 2016, San Antonio’s Fourth Court of Appeals affirmed the trial court’s take-nothing summary judgment regarding a property dispute in favor of Martinez. Webb...more

Repeal of Resource Extraction Disclosure Rule

by Morrison & Foerster LLP on

On February 14, 2017, President Trump approved Congress’ joint resolution to repeal the SEC’s resource extraction disclosure rule. That action effectively brings to a conclusion the SEC’s efforts to implement a resource...more

President Signs Repeal of the SEC's Extraction Payment Disclosure Rule

by Bracewell LLP on

Further to our February 2, 2017 Update, on February 14 the President signed legislation to annul the SEC’s Extraction Payment Disclosure Rule. The rule would have required public oil and gas companies to disclose in annual...more

SEC Resource Extraction Rule to be Eliminated Under Congressional Review Act

As we previously noted, the House was set to vote on the disapproval of the SEC Resource Extraction Rule under the Congressional Review Act. The joint resolution passed the House by a vote of 235 in favor and 187 against. ...more

House Seeking to Disapprove the Resource Extraction Rule

On Wednesday, February 1, 2017, the House of Representatives is scheduled to consider a joint resolution of disapproval of the SEC’s resource extraction rule. This resolution is provided for under the Congressional Review Act...more

Changes in Non-Refined Mineral Export and Divestment Policies in Indonesian Mining

by White & Case LLP on

Recent Indonesian regulations1 implement a series of changes in respect of the regulation of the export of raw ores and concentrates but in doing so also implement very significant changes in respect of the conversion of...more

Treasury and IRS Release Final Regulations on Qualifying Income, but Halted by Trump Moratorium

by Bracewell LLP on

January 25, 2017 On January 19, 2017, the Department of the Treasury and the Internal Revenue Service (IRS) issued final regulations (Final Regulations) regarding qualifying income under Internal Revenue Code (Code) section...more

Department of Mineral Resources faces heavy criticism by South African courts again

by Hogan Lovells on

On 4 November 2016, the Labour Court handed down its judgment (unreported case number J2459/16) in the matter between AngloGold Ashanti Limited, the Acting Chief Inspector, the relevant Principal Inspector, and the Inspector...more

Diamonds Are Forever, but Joint Ventures Are Not: Court Finds Claims Preempted by CUTSA in Business Deal Gone Bad

The holiday season is officially upon us: peppermint mochas have popped up on coffee shop menus, carols ring from department store speakers, and you can’t turn on the television without seeing at least three diamond...more

Conflict Minerals Legislation Coming to the EU

According to this Reuters article and a blog by Elm Sustainability Partners LLC, an informal deal for EU conflict minerals legislation has been reached. The final text will be voted on by the member states on December 7,...more

Ohio Supreme Court Decides Dormant Mineral Act Cases

by Reed Smith on

On September 15, 2016 the Ohio Supreme Court issued three opinions providing long-awaited clarity to Ohio’s Dormant Mineral Act (“ODMA” or “Act”). Most notably, the court ruled that the 1989 ODMA did not automatically allow...more

SEC Rules for Resource Extraction Issuers Could Lead to Increased FCPA Scrutiny, Disclosures

by Holland & Knight LLP on

New rules issued by the U.S. Securities and Exchange Commission (SEC) that require resource extraction issuers to disclose payments made to U.S. and foreign governments for the commercial development of oil, natural gas or...more

Court of Appeal Confirms Judges May Weigh Evidence on Leave Motions in Secondary Market Securities Class Actions

by Dentons on

Summary In Mask v. Silvercorp Metals Inc., the Court of Appeal for Ontario upheld a decision refusing leave to commence an action for secondary market misrepresentation under section 138.8 of the Ontario Securities Act (the...more

Proposed SEC Rules Modernize Mining Disclosures Using Canadian Rules as the Gold Standard

by Hodgson Russ LLP on

On June 16, 2016, the U.S. Securities and Exchange Commission proposed a set of comprehensive mining disclosure rules with the stated intent of “aligning such rules with current industry and global regulatory practices and...more

Understanding the SEC’s Proposed New Mining Disclosure Rules: Questions and Answers

by Dorsey & Whitney LLP on

On June 16, 2016, the SEC proposed a major overhaul of the disclosure requirements for companies that are engaged in material mining operations, including royalty companies. The proposed rules would replace the SEC’s...more

Securities and Exchange Commission Issues New Rule on Extractive Industry Transparency

On June 27, the Securities and Exchange Commission (“SEC”) issued a new rule requiring extractive sector companies (oil, gas, and mining) to disclose the payments that they make to governments for the commercial development...more

Key Milestone towards the Standardisation of Mineral Reserve and Resource Reporting

by White & Case LLP on

The US Securities and Exchange Commission (the "SEC") has proposed to modernise its rules for mineral property disclosure and more closely align them with international regulatory standards and practices. The SEC has...more

SEC Proposes Updated Mining Disclosure Rules ? Industry Guide 7 to be Eliminated

by Dorsey & Whitney LLP on

On June 16, 2016, the SEC proposed new rules to update disclosure requirements for mining properties. The intent of the proposed rules is align them more closely with current industry and global standards, specifically...more

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