Mineral and Petroleum Resources Development Act, 2002 (Act No. 28 of 2002)

Chapter 4 : Mineral and Environmental Regulation

Purchase

(1)	Subject to subsection (2), the holder of a retention permit has the exclusive right to he granted a mining right in respect of the retention area and mineral in question.

(2)	The holder of a retention permit must—

(a)	give effect to the conditions of the environmental authorization and pay the prescribed retention fees; and

[Section 35(2)(a) substituted by section 29(a) of the Mineral and Petroleum Resources Development Amendment Act, 2008]

(b)	submit a six monthly progress report to the Regional Manager indicating—

(i)	the prevailing market conditions, the effect thereof and the need to hold such retention permit in respect of the mineral and land in question; and

[Section 35(2)(b)(i) substituted by section 29(b) of the Mineral and Petroleum Resources Development Amendment Act, 2008]

(ii)	efforts undertaken by such holder to ensure that mining operations commence before the expiry period referred to in section 32(4) or 34(3), as the case may be.

(c)	submit the retention permit for recording in the Mineral and Petroleum Titles Registration Office within 60 days after the permit has been issued.

[Section 35(2)(c) inserted by section 29(c) of the Mineral and Petroleum Resources Development Amendment Act, 2008]