that it has completed satisfactory due diligence on the Mina Reyna Mining Title
, granting the Company the exclusive right to purchase this strategic tenement during an 18-month period via the executed binding Option Agreements with tenement vendors - Colorado S.
The mining title
allows the acknowledgement of the real rights for the entity discovery a deposit (entity referred to as "inventor" in the legislation), but it does not allow opening the exploitation works, which are subject to a special procedure.
and industrial licence applications are being prepared for submission in January 2014.
To control the activity, the state requires two general requisites of mining operations: a mining title
or mining concession (Law 685 of 2001 art.
In addition, the Company will continue its negotiations with each of the illegal mines located within the Company's mining title
at its Segovia Operations to enter into contractual relations similar to those it has with 41 other mining cooperatives working within its mining title
Baobab is also very pleased to announce the approval of the environmental scoping report which, coupled with the completed Pre-Feasibility Study, forms the core documentation for a mining title
He acknowledged the constructive role BHP Billiton had played in reaching agreement to rescind its licence to protect the black soils and indicated that negotiations with Shenhua had commenced to secure the excise of the parts of its mining title
that encroached onto the strategic agricultural land of the Liverpool Plains.
The environmental issue has not been addressed by the bill, which is bound to result in a number of discussions since it proposes a single mining title
for research, exploration and closing deposits, whereas environmental laws contemplate 03 licenses (Prior, Implementation and Operation Licenses) with specific valid dates.
5% gross turnover royalty payable by SEK, and Tiger also plans to cede a 5% interest in SEK to the DRC government, bringing the mining title
into alignment with local mining law and regulations.
The owner of a mining title
has total independence and autonomy to develop the project as they see fit for that area.
The mining title
is irrevocable and perpetual, provided its holder pays the dues in force (currently between ($US1 and $4 per hectare per year.
The corporation is also acquiring the mining title
and 500 hectares of land, the largest parcel of land in southern India.