Minister may require review of economic viability of mining of minerals to which a retention licence applies
112A Minister may require review of economic viability of mining of minerals to which a retention licence applies
The Minister may require the holder of a retention licence—
to re-evaluate the economic viability of the mining of a mineral to which the licence relates from the land covered by the licence; and
to report to the Minister in writing the results of the re-evaluation.
In making such a requirement, the Minister—
must make the requirement by giving the licensee written notice of the requirement; and
must allow the licensee at least 90 days within which to comply with the requirement.
The Minister may, on the written application of the licensee, allow the licensee more time within which to comply with a requirement made under this section.
The Minister may not make a requirement under this section if the licensee has already complied with a requirement made under this section on 2 occasions in the 5 years immediately before the making of the requirement.
If the licensee fails to comply with a requirement made under this section, the Minister may cancel the licence.
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