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Part B: Mineral Rights - Part B-5: Development Minerals - 31. Development Minerals Exploitation Licence | 31.11 Transfer/Assignment of rights

Refer to example provisions for mining licences. In view of the restrictions on a non-citizen’s right to hold a development mineral exploitation licence, additional conditions must be stipulated for transfer or assignment of rights.

31.11 Example:

Article [_]

No transfer of a development mineral exploitation licence to a non-citizen shall be valid if the non-citizen fails to comply with the requirements for acquiring a development mineral exploitation licence.

Annotation

Whilst transfers of mineral rights are generally not prohibited in order to facilitate exploration and development of mineral resources, the standard to be met by a potential transferee is the standard for acquiring the licence de novo. In the case of development minerals where a minimum investment threshold is required for non-citizens to acquire a mineral right, this provision ensures that transfers are not used to bypass this requirement.