QLDIn ForceAct
Offshore Minerals Act 1998
sec.132Mineral development licences
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sec.132 Mineral development licences
This part provides for the grant of mineral development licences over sub-blocks in coastal waters. A mineral development licence is designed to allow an exploration permit holder to retain rights over an area if— the holder has identified and evaluated a significant mineral deposit in the exploration permit area; and mining the deposit is not commercially viable in the short term; and there is a reasonable prospect of development of the deposit in the longer term. See section 145 for the grounds on which a mineral development licence may be granted.
- • the holder has identified and evaluated a significant mineral deposit in the exploration permit area; and
- • mining the deposit is not commercially viable in the short term; and
- • there is a reasonable prospect of development of the deposit in the longer term.