(1) The Minister may
at any time, by notice in writing, require the holder of a prospecting licence
that has retention status to show cause why a mining lease should not be
applied for in respect of the whole or any part of the land the subject of the
prospecting licence.
(2) Where —
(a) the
holder of a prospecting licence fails to show cause within the time specified
in the notice referred to in subsection (1); or
(b) the
Minister is of the opinion that the holder of a prospecting licence has shown
insufficient cause,
the Minister may, by
notice in writing, require that holder to apply in accordance with this Act
for a mining lease in respect of the whole or any part of the land the subject
of the prospecting licence within a period of 60 days from the giving of that
notice.
[Section 55B inserted: No. 39 of 2004 s. 22.]