Northern Territory Consolidated Acts

MINING ACT - SECT 41

(1) Subject to this Act, including Parts XIA and XIB as applicable and Part XIII, on being satisfied that -

(a) the application is made in accordance with this Act; and

(b) if the application is made under section 38(1)(a) - there exists on the proposed licence area an ore body or anomalous zone of possible economic potential,

the Minister may grant to the applicant an exploration retention licence over the land or part of the land in respect of which the application is made for a term not longer than the term of the original exploration licence, but in any case not longer than 5 years.

(1A) The Minister must not grant an exploration retention licence until he or she has considered all objections and comments lodged in accordance with this Act against the grant and the answers (if any) to those objections and comments.

(2) An exploration retention licence granted under this Part shall be granted in the name or names of the holder or holders of the exploration licence from which the licence area derived, but when it is granted to 2 or more persons it shall, at the request of the applicants, be granted in different percentages than the percentages in which the exploration licence was held.

(3) Where the Minister refuses to grant an exploration retention lease to an applicant he shall, as soon as practicable after making his decision, notify the applicant in writing of his reasons for refusing to grant the licence.

(4) An exploration retention licence shall not be granted in respect of any land unless the applicant first lodges with the Minister such security as the Minister considers sufficient for the payment of compensation that, under this Act, the licensee may become liable to pay.

(5) An exploration retention licence may be granted notwithstanding that, since the date of the application, the land the subject of the application has ceased to be the subject of an exploration licence.