Mining Lease

Sections 50, 65, 66 and 67 of the Act, and Sections 56, 57, 58, 59,60,61 and 62 of the Regulations, stipulate that:

a) The MCO, upon receipt of a valid application shall, grant and issue a Mining Lease within 45 days of the application to the applicant.

b)   The duration of a Mining Lease is 25 years, renewable every 24 years, provided that the holder has complied with the minimum work programme and all other legal and regulatory requirements.

c)     The Lease area shall be determined in relation to the ore body as defined in the feasibility study, in addition to an area reasonably required for the working of the deposit, not exceeding 50 km²(250 CUs).