217Matters to be determined before applications for mining licence over tender blocks invited

217 Matters to be determined before applications for mining licence over tender blocks invited

217 Matters to be determined before applications for mining licence over tender blocks invited

(1) If the Minister proposes to invite applications for the grant of a mining licence over reserved blocks, the Minister must, before inviting the applications, determine:

(a) the procedure and criteria that the Minister will adopt to allocate the licence, and

(b) the amount of security that will be required for the licence under section 399, and

(c) the initial term of the licence, and

(d) the licence conditions.

(2) The term determined under subsection (1) (c) is not to exceed 21 years.