Earlier this year, Resources Victoria introduced the ‘Use it or lose it’ initiative for exploration and retention licences, increasing compliance checks and reinforcing expectations around active exploration and strict adherence to licence conditions.
With regulators now taking a more proactive approach, compliance thoroughness is critical to protecting your tenure, maintaining project momentum, and safeguarding future opportunities in Victoria’s resources sector.
Key compliance requirements include
- Timely submission of annual reports
- Meeting Native Title and ILUA obligations
- Paying rent invoices by due dates
- Satisfying minimum expenditure commitments
- Surrendering non-prospective ground
- Registering joint venture and landowner agreements
- Securing all approvals prior to ground-disturbing work
- Delivering approved work programs
- Responding promptly to regulator requests
Why Compliance Matters
Companies that meet their obligations benefit from faster approvals, smoother renewals, and improved access to newly available land. Just as importantly, consistent compliance reduces regulatory risk, strengthens credibility with government agencies, and ensures projects remain on track.
The Risks of Non-Compliance
Failure to meet licence conditions may result in licence surrender, cancellation, refusal of renewals, or ineligibility for future licences — outcomes that can significantly impact project value and investor confidence.
How AMETS Can Help
As compliance expectations increase, expert tenement management is essential. AMETS provides proactive, trusted tenement management services across Australia and Internationally, helping exploration and mining companies stay compliant, mitigate risk, and focus on delivering exploration results with confidence.
Need support navigating your compliance requirements?
