Mining Act 1971

The holder of an exploration licence may apply to the Minister for approval of retention status in relation to the licence under this section.

An application—

must be made in a manner and form determined by the Minister;

must identify the boundaries of the land in respect of which retention status is being sought in accordance with the requirements of section 56E; and

must be accompanied by such information as may be prescribed by the regulations.

The Minister may grant retention status in relation to the exploration licence—

if satisfied that the tenement holder has been unable to obtain

if satisfied—

that there is an identified mineral resource located in, on or under the land to which the application relates; and

that it is unreasonable to expect an application to be made for a mining lease or a retention lease because it is not commercially viable to spend time and money on developing the resource; and

that it is reasonably likely that mining the relevant land will become commercially viable within the next 6 years; or

if satisfied (in the Minister's absolute discretion) that there are other circumstances which justify the granting of retention status under this section.

The area of land in relation to which retention status applies will be an area that the Minister considers, after consultation with the tenement holder, to be reasonable in the circumstances (and may be less than the area delineated in the application).

The Minister may, in granting retention status in relation to an exploration licence, or at a subsequent time, do 1 or more of the following:

provide for a reduction in any expenditure commitment applying under section 30AAA;

provide for less reduction in the area of the licence applying in relation to a renewal of the licence under section 30A;

provide for a reduction in the fees that would otherwise be payable under section 31.

Retention status is to be granted for a term determined by the

If retention status is granted for a term of less than

The Minister may then extend the term of retention status beyond

The Minister may, when granting retention status in relation to an exploration licence, or at a subsequent time, make it a condition of the licence that the tenement holder carry out work, in accordance with a work program approved by the Minister, in relation to land to which the retention status applies.

A work program to be carried out by the tenement holder must, if the Minister so requires, be submitted with the application for retention status and from time to time as required under a condition of the licence imposed under subsection (9).

The Minister may approve a proposed work program with or without addition or modification.

The Minister may, on application by the tenement holder—

approve deferment of any work to be carried out under an approved work program; or

approve the variation of an approved work program; or

cancel an approved work program.

The Minister may, at any time, by written notice accompanied by such information or evidence as required by the Minister, require the holder of an exploration licence that has retention status by virtue of the operation of subsection (3) to show cause—

why 1 or more approvals required under another Act or Acts have not been obtained; or

why a mining lease or a retention lease should not be applied for in relation to the whole or any part of the land comprised in the exploration licence.

If—

the holder of the exploration licence fails to show cause (to the satisfaction of the Minister) within a period specified by the Minister in a notice under subsection (13); or

the Minister considers that the holder of the exploration licence has failed to show sufficient cause, the Minister may, by further notice to the tenement holder, require the tenement holder to apply in accordance with this Act for a mining lease or a retention lease in relation to the whole or any part of the land comprised in the exploration licence.

If the tenement holder fails to comply with a notice under subsection (14) within a period specified by the

If—

land in relation to which retention status applies is not subject to a notice under subsection (13); and

the term of retention status comes to an end while the exploration licence is still in force, the land will return to its original status under the exploration licence.