The minimum annual expenditure on exploration licenses

  • The holder of a prospecting license shall comply with the minimum annual exploration expenditure as outlined in the table.

  • The minimum annual exploration expenditure is calculated based on the total area of the license site in square kilometers (with any fraction of a kilometer counted as a full kilometer), multiplied by the applicable minimum annual exploration expenditure value for the corresponding year as outlined in the table, using the following formula

    Minimum Annual Expenditure = Total License Area in Kilometers (or any part thereof) × Minimum Annual Expenditure Value for that Year
     
    Year Per square kilometer or any part thereof (SAR)
    1 750
    2 1,500
    3 3,000
    4 3,000
    5 4,500
    6 4,500
    7 5,600
    8 5,600
    9 7,500
    10 7,500
    11 7,500
    12 7,500
    13 7,500
    14 7,500
    15 7,500