Contributed By GENI & KEBE
To prospect, explore or exploit the mineral deposit, the mining rights-holders must inform the mining administration about the methods and results of their activity, and keep accounting for their transactions according to legal provisions, as well as respect human rights, transparency, social and environmental requirements.
The holder of a prospecting authorisation must inform the mining administration about the result of his investigation.
The holder of an exploration right must perform the annual programme of exploration activities within the term of his or her right, spend the minimum of his or her approved exploration working programme and request a mining right if there is proof of a commercially exploitable deposit. In addition, the holder must submit his or her purchase agreements as well as other agreements, including a lease contract regarding his or her mining right, to the Ministry of Mines and Energy for approval.
The mining title-holder must regularly inform the minister in charge of mines about the results of his or her activity. He or she must also fulfil within the legal timelines the financial requirements as provided by the mining convention he or she signed with the State.