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| MINING
LEASE Holder of Prospecting Permit, Exclusive Prospecting Permit or Quarry Permit, if in the course of his exploration or other operations makes discovery of mineral/minerals of sufficient size and has carried out sufficient development, preparatory or exploratory work making it possible to continue operation for at least 5 years, such permit holder may apply for a mining lease. Application - In the prescribed form - Fee - Plans (General and Mining) - Proposed program of development - Evidence for the availability of technical know-how. - Sufficient capital and adequate market Area Not Defined Duration Minimum 5 Years and maximum 25 years Fee Payable - Application fee RO 25.000 - Annual fee RO 100.000/Sq.Km or part there of - Bank Guarantee--Amount to be indicated by MCI depending upon operations - Royalty payable at the prescribed rate in the mining Permit regulations Mining Lease Holder Responsibilities - To commence development of deposits within 6 months of the grant of mining lease - Submit a monthly report each month in a format approved by MCI - Submit an annual report during the first quarter of every year giving complete details of the activities executed along with account statement showing working expenditures Rights of Mining Lease Holder - To prospect for and mine such minerals as may be specified in the lease - Sell, export or dispose of such minerals - To make all necessary excavations - Erect permanent buildings, structures, machinery, plant and other works and to construct roads, airfields and other facilities necessary for the operations - Take building minerals for construction purposes with the prior approval of the ministry provided the same will not be sold to a third party - To stack or dispose of tailings and any other product of mining with fulfillment of environmental regulations.
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