Section 12Sec./Art. 12

Incorporation of Fiscal Regime in Mineral Agreements. - The fiscal regime and revenue-sharing arrangement provided in this Act shall accordingly be embodied, as appropriate, in the mineral agreements and financial or technical assistance agreements on metallic mineral production entered into by the government. This fiscal regime and revenue-sharing arrangement shall continue to be in force and effect for the entire duration of the contracts so entered and executed after the enactment of this Act: Provided, That this guarantee shall also apply to contracts entered into prior to this Act but subsequently renewed after the enactment of this Act.