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Part B: Mineral Rights - Part B-6: Beneficiation - Processing, Trade & Transport - 35. Beneficiation – Processing, Trade and Transport - 35.7 Rights of the Authorised Processing Facility, Trader/Dealer and Transporter Licence Holder | 35.7(b) Rights of the Authorised Trader/Dealer Licence Holder

The rights of the Authorised Trader/Dealer licence holder are those special rights conferred upon the holder by the licence and include the rights to purchase and to sell raw and processed development minerals at prices that are freely determined or negotiated, within the territory of the jurisdiction that issued the licence. If the licence was issued by the national Regulating Authority, then the licence holder can buy and sell both nationally and throughout the regional market (i.e., within the member states of the AU).

35.7(b) Example:

Article [_]

(1) The holder of an Authorised Trader/Dealer licence shall have the following rights, during the term of the licence, and subject to the terms and conditions of this [Act][Code][Law] and of the licence:

(a) to purchase raw and processed development minerals, for its own account or for the account of a third party, from legal sellers of such minerals within the jurisdiction that issued the licence or, if the licence was issued by the national regulating entity, from legal sellers within any member state of the African Union;

(b) to sell raw or processed mineral products for its own account or for the account of third parties to purchasers within the jurisdiction that issued the licence or, if the licence was issued by the national regulating entity, to purchasers within any member state of the African Union at prices it freely determines or agrees to; and

(c) to engage in necessary ancillary activities in connection with the foregoing.

(2) The holder of an Authorised Trader/Dealer licence shall have the right to benefit from the incentives provided for development minerals trading in this [Act][Code][Law] and in applicable tax and finance laws.

Annotation

This example is very similar to the previous example for Authorised Processing Facility licence holders, but simpler. It provides that Authorised Trader/Dealer licence holders have the right to buy and sell raw or processed development minerals for their own account or for the account of a third party client.

If the licence was issued by a provincial or state regulating entity, the licence holder may purchase from sellers and sell to purchasers only within the licensing province or state. If the licence was issued by the national regulating entity, the licence holder can purchase from sellers and sell to purchasers within any member state of the AU (subject to applicable laws of each member state).

The licence holder has the freedom to set or agree to its own prices.

Authorised Trader/Dealer licence holders also have the right to engage in necessary ancillary activities (such as storage of development minerals or mineral products) and to enjoy the benefits of the incentives provided for trading in development minerals in the mining law or other legislation.