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Part B: Mineral Rights - Part B-5: Development Minerals - 31. Development Minerals Exploitation Licence | 31.10 Suspension/Termination of licence

Refer to example provisions for mining licences. To these may be added circumstances where reports are not submitted on time or are inaccurate, non-compliance with the non-citizen minimum investment threshold, or non-compliance with the development impact plan. These provisions may also serve as grounds for termination of the licence.

31.10 Example:

Article [_]

(1) Subject to the provisions of this [Law][Act][Code], the [Regulating Authority] may suspend or terminate a development mineral exploitation licence if the holder:

(a) fails to submit the reports required by law within the time stipulated in the [Law][Act][Code];

(b) submits inaccurate reports;

(c) being a non-citizen fails to invest the amounts required under the minimum investment threshold;

(d) at any time does not meet local shareholding requirement;

(e) at any time fails to comply with the approved development impact plan.

(2) A licence shall not be terminated unless the holder is given an opportunity to remedy the breach within [_] days and fails to do so or where the breach is not remediable.

Annotation

This example provides a list of additional conditions under which a regulating entity may suspend a development mineral exploitation licence.