AVQ 2.86% 6.8¢ axiom mining limited

Mining Lease

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    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)


    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
    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.

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