Australia is a significant producer and consumer of minerals. There is no limit to the number of licenses one company can hold. However, the maximum area one party can get a prospecting license on cannot exceed 200 hectares. Anyone with an interest in mining can apply for a tenement license from one of the Mining Registrar offices available.
The department also has a website where individuals can learn more about their services online. A mining lease, license, prospecting, or claim license gives the party involved exclusive right to the minerals within a specific claim area. For all tenements, applicants need to pay application and rental fees.
Here are the benefits of mining tenement services.
Get the Right to Explore and Extract Minerals
Once you apply and acquire the appropriate mining tenement services, you get the right to explore and extract minerals in the specified area. Everyone who applies for a license should produce a development proposal, a map, a report on the project’s environmental impact of the project and proof of technical, financial, and operational capability.
Note that, before you begin your project, you have to compensate previous owners and complete a rental payment. If the project continues for more than one year, you have to submit annual reports to relevant departments. Ensure you dispose of any waste during the project and have a plan for environmental rehabilitation.
Have Unlimited Access to Minerals
Mining leases generally last for a 21-year term beyond which you have to renew it. This means that, as long as you comply with all rules and regulations, you can get all the minerals you need.
Note that there are minerals that are subject to special consideration in certain states. This means that, in some parts of the country, you need written authorization from relevant authorities to explore certain ores.
You should also note that Australia, as a state, is obligated under Word Trade Organization regulations to conduct special mining procedures when in, comes to minerals like rough diamond. For this reason, your mining license might overlap with many other special prospecting licenses.
Bottom Line
Exploring and extracting minerals from the ground is an economic activity that dates back. The rules and regulations put in places by relevant departments ensure that the environment’s integrity is not compromised due to these activities. Mining tenement services allow interested parties to explore this activity within the bounds of the law.