39Requirement if mining and processing appear viable

39 Requirement if mining and processing appear viable (1) If the Minister is satisfied mining and processing of minerals in the title area of an ELR is commercially viable and should begin as soon as possible, the Minister may give the title holder a notice stating: (a) the title holder must, within the time specified by the notice: (i) give the Minister written reasons why the title holder has not applied for a mineral lease for all or part of the title area of the ELR; or (ii) apply for a mineral lease for all or part of the title area of the ELR; and (b) if the title holder does not give reasons or apply for a mineral lease within the specified time, the Minister may cancel the ELR under this section. (2) The Minister may cancel the ELR after the time specified in the notice if: (a) the title holder does not give reasons or apply for a mineral lease within that time; or (b) having regard to the reasons given by the title holder – the Minister is satisfied it is in the interests of the Territory that the ELR should be cancelled.