Western Australian Current Acts

OFFSHORE MINERALS ACT 2003 - SECT 145

145 .         Grounds for granting retention licence

        (1)         The Minister may provisionally grant the retention licence only if the Minister is satisfied that —

            (a)         the exploration licence holder has identified and evaluated a significant mineral deposit in the exploration licence area; and

            (b)         there are reasonable grounds for the holder not applying immediately for a mining licence.

        (2)         Without limiting subsection (1), reasonable grounds for not applying immediately for a mining licence include the following —

            (a)         the need to obtain government approvals (for example, relating to environmental protection) before mining activities can commence;

            (b)         the need to carry out further exploration or evaluation in order to establish the commercial viability of a mineral deposit found in the licence area;

            (c)         the need to develop technologies before mining activities can commence;

            (d)         the need to arrange finance, or to secure additional capital reserves, before mining activities can commence;

            (e)         the existence of economic considerations (for example, the prevailing condition of the commodity market for the minerals concerned) that effectively preclude mining activities in the immediate future;

            (f)         the existence of political considerations that effectively preclude mining activities in the immediate future.