These Regulations implement provisions of the Minerals Law and aim at: the conservation, management, development and proper use of the mineral resources of the nation; promoting the rational exploration, development, exploitation and mineral processing in a combined effort of the Government and private sector; and at enhancing national growth in a way to safeguard the environment.
The Regulations provide for the following: requirements and procedures for minerals right bidding; application procedures and requirements for exploration, exploitation and small scale exploitation licences; requirements and procedures for obtaining exploration and exploitation authorizations for quarry resources; mineral royalties and fees; environmental and social protection; substantive environmental and social protection requirements; compensation; violations; resolution of disputes; etc.