New South Wales Consolidated Acts
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MINING ACT 1992 - SECT 47
Rights under assessment lease
47 Rights under assessment lease
(1) The holder of an assessment lease may, in accordance with the conditions
of the lease, prospect on the land specified in the lease for the mineral or
minerals so specified.
(2) If an application for a mining lease or mineral
claim made by the holder of an assessment lease is not finally dealt with
before the date on which the assessment lease would otherwise cease to have
effect, the lease continues to have effect, in relation only to the land to
which the application relates, until the application is finally dealt with.
Note : An assessment lease is designed to allow retention of rights over an
area in which a significant mineral deposit has been identified, if mining the
deposit is not commercially viable in the short term but there is a reasonable
prospect that it will be in the longer term. The holder is allowed to continue
prospecting operations and to recover minerals in the course of assessing the
viability of commercial mining.
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