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National Mineral Policy 2006 - Department of Mines

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Appendix G (cont.)Country Mining legislation MinimumTerms forApprovalmining lease expenditure Mining Mortgage EIAtime for Initial term Renewal Concession fee exploration rights facility requirementexplorationlease obligation transferNamibia NA 25 years 15 years N$ 1000 for a mine Yes Yes Yeswith gross annualrevenue below N$ 10million and N$ 5000for above N$ 10million revenuePeru Not SML: 40 yearsSML: 20years SML: US$ 7.23/HA Yes Yes Yesspecified ML: 20 yearsML: 10yearsAML: 5 yearsAML: 5yearsWestern Not 21 years 21 years and Not specified Is there but Yes Yes YesAustralia specified further terms not specified<strong>of</strong> 21 yearsSource: 1. World Bank (2001), Review <strong>of</strong> Legal and Fiscal Frameworks for Exploration and Mining.2. World Bank (2001), Mining Sector Reforms and Investment.3. Western Australia Mining Act, 1978.250

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