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Part B: Mineral Rights - Part B-5: Development Minerals - 29. Development Minerals | 29.2 Other Definition

Words requiring definitions that are not defined under the mining law may be specifically defined here. Also, words used in this section that have a different meaning from similar words used in the mining law may be distinguished.

29.2 Example:

Article [_]

“minimum investment threshold” means [US$28 million] [or specify different amounts for different minerals];

“Region” means [ECOWAS] [EAC] [ECCAS] [SADC] or [List specific countries];

Annotation

The minimum investment threshold is the minimum amount a non-citizen must invest to be granted a large scale development minerals exploitation licence. See sections 31.1(d), 31.7 and 31.10. This requirement aims to ensure that non-citizens do not crowd out citizens in the development minerals sector and that investments by non-citizens are substantial enough to incorporate local value addition or utilization projects. Any region or countries mentioned in the definitions are to be exempted or differentiated from the non-citizen minimum investment threshold requirement. See sections 31(1) and 31(7).