A
prospecting License is granted for an initial prospecting period of not
exceeding three years, except in the case of an application for a
Prospecting License for gemstones where the period may not exceed two
years and is not subject to renewal. A Prospecting License covering a
preliminary reconnaissance for all minerals other building materials and
gemstones may be granted for a period not exceeding two years.
An
applicant who has been granted a preliminary reconnaissance period shall
on renewal relinquish an area or areas sufficient to ensure that the area
retained does not exceed the maximum area, which may be held during the
initial prospecting period. On first renewal, the holder shall relinquish
50% of the initial prospecting area, and in the case of an second renewal
shall relinquish 50% of the balance area, by giving sufficient description
of relinquished area.
The size
of each Prospecting License shall be as follows:
● For a
Prospecting License with a preliminary reconnaissance period, the maximum
area shall be 5, 000 sq.km;
● For a
Prospecting License for all minerals other than building materials or
gemstones the maximum area during the initial propecting period shall be
200 sq.km;
● For a
Prospecting License for gemstones the maximum area shall be 10sq. Km; and
● For a
Prospecting License for building materials the maximum area shall be 10
sq.km.A prospecting License confers on the holder the exclusive right to
carry on prospecting operations in the prospecting area for minerals to
which the license applies.