The State, or any entity acting on its behalf, reserves the right to purchase and market a quantity of the production of the holder of the Mining Operation Title, in proportion to its participation, for any price offered which is greater than the current FOB price.
The exercise of this right is to be notified in writing no later than the end of the first quarter of the relevant year, with respect to production of the following financial year, or upon the signing of long term sales contracts by the company holding a Mining Operation Title.
This right is exercised on terms at least equal to those offered by other buyers. Its exercise cannot disrupt the provisions of contracts for the sales of ore that are then in effect and shall not apply to quantities greater than the portion that corresponds to the State’s ownership of the company holding the Mining Operation Title. The other shareholders of the company holding the Mining Operation Title have the pre-emptive right over the ore sold by the State to third parties.