If you are a mining investor or an individual company looking for some rights to conduct a mineral search in any land, you will be required to work according to the host country’s tenement system. That is why understanding all the tenement and management system is the key to deciding if the host country has favorable terms for your business. We can also break it down for you to have hints and tips on what makes a good tenement system and how the whole system works. So, if you are planning to invest in mining, drilling, or even exploration business, here are some basics you should have some ideas about them before making any move towards signing or even considering the project as your next investment.
What is tenement Management? Tenement management is the monitoring or ensuring your company’s compliance with the relevant acts of rules and regulation securing the whole tenement assets. In this part, statutory and technical assistance includes lodgment of license applications, transfer of mining rights, renewals, relinquishments, reports, and variation requests. At one point in your mining business, you will require a team of specialists to help you relate with the landowners, the government, and many more authorities that will be tired on your way to the exploration, development, and mining stages. Some of the benefits of working with What is tenement Management include;
Land Access
A good team with specialized officials will help you negotiate and draft some compensation agreements between your company and the landowners. They will also issue you with a timely update on landowners’ whereabouts and lodging of important state documentation. In addition to land access, a good team will maintain a good relationship between your company, the permit holders, stakeholders, and landowners to ensure a smooth transition between you as an investor to the land you are interested in investing in or conducting the mineral search. Lastly, you will get accurate geological maps and ore reserve distribution across the neighborhood with the landholder’s contact information.
Cultural Heritage and Native Title
As an investor, complying with all the native and cultural heritage means a lot to the people you are about to displace in order to accomplish your investment. The best way to be sure that you are working on the right edge is through having a tenement system that gives you some ideas on what do and how to do the compensation and relocation of the people.