New mining law.
NEW MINING LAW. The Honduran Congress approved a new mining law which eliminates tax shields for mining companies, reports Laprensa.hn (Jan. 24, 2013. For seven years the country has had an incomplete mining law, as in 2005 the Supreme Court struck down 13 items of this legislation, among which were items relating to relating to relate prep → concernant
relating to relate prep → bezüglich +gen, mit Bezug auf +acc the collection of taxes on mining companies. In the new law, it is specified spec·i·fy
tr.v. spec·i·fied, spec·i·fy·ing, spec·i·fies
1. To state explicitly or in detail: specified the amount needed.
2. To include in a specification.
3. that any exploration awards for non-metallic mineral and gems or precious stones will last a maximum of two years, counted from the date of concession CONCESSION. A grant. This word is frequently used in this sense when applied to grants made by the French and Spanish governments in Louisiana. award. Regarding metals, the concessions will be for a maximum of five years counted from the date of award. The basic points of the legislation say in no way will the mining authority grant mining concessions or benefits, if the corresponding concessionaire does not have an environmental license, issued by the appropriate authority.