Mortgage means that the mortgagor and the creditor conclude an agreement in writing not to transfer the possession of the mortgaged property, and take the property as the guarantee of the creditor's rights. When the debtor fails to perform the debt, the creditor has the right to discount it according to law or give priority to compensation with the price of auction or sale of the property.

Article 34 of the Guarantee Law The following properties can be mortgaged:

(1) Houses and other things fixed on the ground owned by the mortgagor;

(2) Machines, means of transport and other property owned by the mortgagor;

(three) the right to use state-owned land, houses and other fixed objects on the ground that the mortgagor has the right to dispose of according to law;

(4) State-owned machinery, vehicles and other property that the mortgagor has the right to dispose of according to law;

(five) the land use right of barren hills, gullies, hills and beaches contracted by the mortgagor according to law and mortgaged with the consent of the employer;

(six) other property that can be mortgaged according to law.

The mortgagor may mortgage the property listed in the preceding paragraph together.

Article 37 The following properties shall not be mortgaged:

(1) Land ownership;

(2) The right to use collectively-owned land, such as cultivated land, homestead, private plots and private hills, except as provided for in Item 5 of Article 34 and Paragraph 3 of Article 36 of this Law;

(3) Educational facilities, medical and health facilities and other public welfare facilities of schools, kindergartens, hospitals and other institutions and social organizations;

(4) Property whose ownership and use right are unknown or controversial;

(5) Property that has been sealed up, detained or supervised according to law;

(six) other property that may not be mortgaged according to law.

The mine is owned by the state, so it cannot be mortgaged. If it is the mining right of a mine, it is ok, which is stipulated in Articles 55 to 58 of the Interim Provisions on the Management of Mining Right Transfer.

Article 55 The mortgage of mining right refers to the act that the mining right owner, as a debtor, provides guarantee to creditors without transferring the possession of mining right.

The debtor with mining right as collateral is the mortgagor, the creditor is the mortgagee, and the mining right that provides guarantee is the collateral.

Article 56 Where the creditor requires the mortgagor to provide the value of the mortgaged property, the mortgagor shall entrust an appraisal institution to appraise the mortgaged property.

Fifty-seventh when the mining right is mortgaged, the mining right holder shall go through the filing formalities at the original issuing authority with the mortgage contract and mining right license. Within 20 days after the mortgage of mining right is lifted, the mining right holder shall notify the original issuing authority in writing.

Article 58 When the debtor fails to perform the debt, the creditor has the right to apply for the realization of the mortgage right and be compensated from the income from the disposal of mining rights according to law. The new applicant for mining right shall meet the qualification requirements stipulated by the state, and the parties concerned shall go through the formalities of transfer and change registration of mining right according to law.

When the license of the mining right holder is revoked, the debtor shall bear the consequences arising therefrom.