On 28 June 1991, a graticular boundary (or block) system was introduced for Exploration Licences.
The minimum size of an Exploration Licence is one block, and the maximum size is 70 blocks, except in areas not designated as mineralised areas, where the maximum size is 200 blocks.
An exploration licence is not marked out and there is no limit to the number of licences a person or company may hold but a security ($5000) is required in respect of each licence.
Please see details for term and compulsory surrender below:
- For licences applied for prior to 10 February 2006, the term is five years plus two possible extensions of two years and a further period of one year thereafter. At the end of both the third and fourth year of its term, the licensee is required to surrender 50 per cent of the licence.
- For licences applied for after 10 February 2006, the term is five years plus possible extension of five years and further periods of two years thereafter, with 40 per cent of ground to be surrendered at the end of year six.
The holder of an exploration licence may in accordance with the licence conditions, extract or disturb up to 1000 tonnes of material from the ground which includes overburden. The Minister may approve extraction of larger tonnages.
