RETENTION LICENSE

DEFINITION

A retention license grants the holder of a prospecting license who has identified a mineral deposit which has potential economic significance but which is, in whole or in part, temporarily uneconomic, the exclusive right for a limited period and subject to continuous re-evaluation by the Mineral Office, to conduct prospecting and feasibility operations in the retention area and to apply for a mining license.

Term and Conditions

  • The Minister may condition the issuance of a Retention Licence on the acceptance by the Retention Title Holder of obligations to: –
  1. ) Continue certain specified Exploration Operations,
  2. ) Actively preserve one or more Mineral Resources, and
  3. ) Undertake certain specified measures for the protection of the Environment.
  • A retention licence may be granted for a period not exceeding two years and on such conditions for the preservation of the mineral deposit and the protection of the environment as the Minister may determine and cause to be specified in the licence or in

Step one

  • Application form
  • The holder of an exploration licence may apply to the Minister for the grant of a retention licence on the grounds that:
    • has identified a mineral deposit within the Exploration area which is potentially of commercial significance; and
    • the mineral deposit cannot be developed immediately by reason of technical constraints, adverse market conditions or other economic factors which are, or may be, of a temporary
  • An application for a retention licence shall be accompanied by studies and assessments by appropriate independent experts on:
    • the extent, prospects for recovery, and the commercial significance of the mineral deposit, and the relevant market conditions, trends, technical and economic factors;
    • the impact of mining operations for the recovery of the mineral deposit on the environment and the manner of eliminating or minimizing any adverse effects; and
    • such other information as the Minister may reasonably require as to the proposals of the applicant for the retention and development of the

Step two

  • Pay non-refundable Licence fee
  • Issued the retention licence within 14 days