South Australian Current Acts South Australian Current Acts (1) A retention lease
is a mineral tenement that is granted in 1 of the following cases:
(a)
where the applicant seeks an authorisation to carry out authorised operations
to obtain information required to support an application for a mining lease
where those authorised operations are not suited to being conducted under an
exploration licence;
(b)
where the Minister is acting under section 37(2) after a mining proposal
has been the subject of an application for a mining lease under Part 6;
(c)
where for economic or other reasons the applicant for the lease is, in the
opinion of the Minister, justified in not proceeding immediately to mine the
land under a mining lease.
(2) A retention
lease—
(a)
confers an exclusive right on the tenement holder to prospect for minerals on
the land comprised in the lease; and
(b)
confers on the tenement holder such other rights to conduct authorised
operations in respect of the land comprised in the lease as may be specified
in the lease; and
(c)
confers on the tenement holder an exclusive right to apply for a mining lease
in respect of the land comprised in the lease.
(3) A retention lease
is subject to—
(a) such
terms and conditions as may be prescribed; and
(b) such
additional terms and conditions (if any) as the Minister thinks fit and
specifies in the lease.