If a company already holds a special Mining licence, they have two years to comply. As the document states. If a company is applying for a SML then they have 1 year to comply
"The minimum local shareholding for a Special Mining Licence shall be obtained through a public offer in
accordance with the provisions of the Capital Market and Securities Act within one year after granting of the said licence.
(2) A licensee referred to under subregulation (1) whose licence was issued prior to commencement of these Regulations shall, within two years from the date of commencement of these Regulations, ensure compliance with the local shareholding obligation.
(3) A licensee referred to under subregulation (1) whose licence is issued after the commencement of these Regulations shall, within one year from the date of grant of a Special Mining Licence, ensure compliance with the local shareholding obligation."
If a company already holds a special Mining licence, they have...
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