Reminder to QLD Miners to comply with Mining Lease Conditions
The recent announcement by the Queensland Treasurer, Cameron Dick, informing miners that mining leases might be at risk if they do not continue investing in the state is a timely reminder to licensees to ensure they comply with the conditions of their mining licence.
The Treasurer stated that the government would consider revoking mining tenures being “misused”, before telling parliament that firms had to “use or lose” their leases. He stated that we want those companies to develop the leases they have been granted by the people of Queensland. If obligations were not followed, the Resources Minister could impose financial penalties or even cancel a lease.
The “use it or lose it” principle is a policy that encourages companies to actively explore and develop their mining tenure. The idea is to prevent companies from sitting on mining rights without actively utilising them, thus ensuring that valuable mineral resources are being efficiently explored for, extracted and utilised for the benefit of the economy and society.
If you have any questions regarding compliance with your mining lease, AMETS Tenements & Geoservices is available to assist you by contacting [email protected].
