1. Most Discussed
  2. Gainers & Losers
AVQ 12.0¢

Mining Lease

  1. Just having a look at what it takes to get a mining lease in S.I.
    This comes under the Mines and Minerals Act (1990)

    http://www.paclii.org/sb/legis/consol_act/mama175/

    As an unsubstantiated source told me it takes about 3 moths to get it.
    Below are some of the requirements for receiving a mining lease as proscribed by the legislation:

    Application for a mining lease
    31.-(1)
    Each application for a mining lease shall be made; in writing to the Director not less than ninety days prior to the expiry of the applicant's prospecting licence and shall specify -

    (d) a description of the area over which a mining lease is sought, together with a plan thereof to such scale and accuracy as may be prescribed;

    (e) a comprehensive report on the mineral deposit which shall include details of the grade and quantity of the proven and probable ore reserves and the anticipated mining conditions, with comments on possible ore reserves;

    (f) a technological report on mining and treatment possibilities and the intention of the applicant in relation thereto;

    (g) a proposed mining plan which shall include-
    (i) the date by which the applicant intends to commence commercial production;
    (ii) the anticipated facilities, scale of operations and production capacity;
    (iii) the nature of the mineral products;
    (iv) the anticipated processing plan and the estimated overall recovery of ore and mineral products;
    (v) the anticipated marketing arrangements to be made for the sale of the mineral products; and

    (h) an environmental assessment, with a detailed programme for -
    (i) tailings and waste disposal;
    (ii) the progressive reclamation and rehabilitation of lands disturbed by mining; and
    (iii) the monitoring and minimisation of the effects of such mining on air, land and water areas;

    (i) a reasonably detailed forecast of capital investment, operating costs, and sales revenues and the anticipated financing plan;

    (j) the period for which the mining lease is required;

    (k) the anticipated employment requirements and a proposed programme for the employment, education and training of Solomon Islands citizens specifying for each year-
    (i) the anticipated number of Solomon Islands citizens to be employed under the programme;
    (ii) the content of the training courses; and
    (iii) the anticipated costs thereof;

    (l) the anticipated requirements for goods produced in Solomon Islands and for services which may be obtained within Solomon Islands and the applicant's intention in relation thereto;

    (m) details of the anticipated infrastructure and a description of the area or areas necessary therefor; and

    (n) such further information as may be prescribed or as the Director may require.

    As can be seen from the above there is quite a lot of work to be done before applying for the ML.

    For instance section 30(e) needs a lot of drill results to meet the requirements.
    Section 30(g) requires a detailed mining plan.
    Section 30(h) requires a detailed environmental assessment and program. Underway already apparently.
    Section 30(i) requires a detailed financial plan.
    Section 30(k) requires commitments for S.I. nationals to gain employment, training and education.
    Section 30(l) requires commitments for goods and services sourced within S.I.

    Lots to do before the ML is achieved.

    Cheers. :)

DISCLAIMER:
Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.

Top

Thank you for visiting HotCopper

We have detected that you are running ad blocking software.


HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.