Australia: ‘Use it or Lose it’ - a Streamlined Process for the Grant and Management of Mineral Titles in the Northern Territory – the Mineral Titles Bill 2010 (NT)
corporate update

The Northern Territory Government has recently unveiled the Mineral Titles Bill 2010 (NT) (the Bill) which will replace, and is designed to modernise, the Northern Territory's 30 year old Mining Act (1980) (NT). The Bill has been fashioned to take into account the genuine needs of the exploration industry with the objective being to encourage active exploration, turnover of land, and active development of known mineral deposits.

The Bill was introduced into the Legislative Assembly and received its second reading speech on 29 April 2010. As stated in the second reading speech, the Bill, if passed will:

• promote a 'use it or lose it' attitude amongst explorers by increasing the emphasis on active exploration and continuous operation of mining titles;
• increase flexibility in managing performance through the introduction of penalties for non compliance;
• continue transparency, by enabling affected parties to object or make submissions in relation to applications; and
• ensure streamlined processes for exploration and mining through the introduction of new tenure and the rationalisation of historic mining titles.

Key changes proposed by the Bill also include:

• the introduction of preliminary exploration rights, allowing explorers to assess the potential of the land for future exploration;
• the introduction of an extractive mineral licence which may be granted for a period of up to two years and which allows for exploration of extractive minerals; and
• the ability to renew exploration licences for ongoing periods to allow explorers to complete their exploration activities.

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