14BProspecting licences

14B Prospecting licences (1) The holder of a prospecting licence is entitled— (a) to prospect or explore for minerals; and (b) to carry out mining on the land covered by the licence; and (c) to do anything else that is incidental to that mining. (2) To avoid doubt, the holder of a prospecting licence is entitled to apply for a mining licence or retention licence in respect of the land covered by the licence. S. 14B(2A) inserted by No. 64/2012 s. 17. (2A) The holder of a prospecting licence may with the consent of the Minister, and in accordance with any conditions imposed by the Minister on that consent, dispose of any tailings produced by the holder during work under the licence. (3) A prospecting licence— S. 14B(3)(a) amended by No. 32/2019 s. 54. (a) is current for the time specified in the licence, not exceeding 7 years from the date on which it is registered; and (b) cannot be renewed; and (4) The area of the land described in a prospecting licence must not exceed 5 hectares. S. 14B(5) inserted by No. 68/2014 s. 18. (5) For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, a prospecting licence is declared not to be personal property. S. 14BA inserted by No. 64/2012 s. 18. 14BA Holder of prospecting licence must not dispose of tailings contrary to Minister's consent A holder of a prospecting licence must not dispose of any tailings contrary to any consent of the Minister under section 14B(2A). Penalty: 60 penalty units. S. 14C inserted by No. 59/2010 s. 8. 14C Retention licences (1) The holder of a retention licence is entitled— (a) to retain rights to a mineral resource in the land covered by the licence— (i) that is not economically viable to mine but may become economically viable to mine in the future; or (ii) for the purpose of sustaining the operations of an existing mine; and (b) to explore and carry out other work to establish the economic viability of mining a mineral resource in the land covered by the licence. (2) To avoid doubt, the holder of a retention licence is entitled to— (a) apply for a mining licence in respect of the land covered by the licence; or (b) give consent to another person to apply for a mining licence in respect of the land covered by the licence. (3) A retention licence— (a) is current for the time specified in the licence, not exceeding 10 years from the date on which it is registered; and S. 14C(3)(b) substituted by No. 68/2014 s. 19(1). (4) The area of the land described in a licence is the area the Minister determines as the area that may be required for the purpose of mining a mineral resource in the future. S. 14C(5) inserted by No. 68/2014 s. 19(2). (5) For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, a retention licence is declared not to be personal property. Pt 2 Div. 2 (Heading and s. 14AB) inserted by No. 63/2006 s. 8. Division 2—Licence process S. 14AB inserted by No. 63/2006 s. 8. 14AB Application of this Division The provisions in this Division do not apply to a licence for which an application may be made under Division 3 unless specifically applied under Division 3.