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Retention licence application process

retention-licence-process

Applying for a retention licence

Mineral exploration and mining in Victoria is regulated under the Mineral Resources (Sustainable Development) Act 1990 and the Mineral Resources Development Regulations 2002.

When applying for a retention licence, applicants will need to provide the following information:

  • A map of scale 1:25,000 or larger showing the boundaries of private land and Crown land.
  • A mineralisation report which includes the exploration results in relation to the described
  • mineral resource and notes whether the resource is economically viable to mine
  • Details of the program work program including:
    • proposed exploration program (in-fill drilling, bulk sampling etc)
    • the location and focus of the proposed exercises with location maps
    • mineral resource assessment and technical and/or economic studies
    • an estimated timing schedule of the work program
    • evidence that the scale and outline of the work and the proposed expenditure is commensurate with the size of the mineral resource
  • Evidence of experience in exploration and mining and expertise in project evaluation and development activities
  • A description of the mineral resource that indicates whether the resource has been proved to a JORC inferred status, a JORC indicated status or an alternative and accepted standard
  • Evidence of the financial capacity to fund the estimated expenditure
  • Evidence of being a fit and proper person
  • An estimate of the likely expenditure on the work program.

If the application includes Crown land, the applicant is required to comply with the Native Title Act 1993 Cth (NTA) and/or the Traditional Owner Settlement Act 2010 (VIC).

Licence progression to mining in Victoria

retention-licence-progression

Key features of retention licences

  • A retention licence is an optional licence between exploration and mining stages
  • Provides secure tenure in the absence of mining with no compulsory license
  • relinquishments
  • Requires compliance with an agreed work program - work towards raising mineralisation and establishing economic viability
  • Maximum licence term is 10 years
  • Licence renewals possible if compliant with work program
  • Applicants and/or licensees may refer a dispute to the Mining Warden