According to PIRSA, the typical duration for a mining lease to be issued to an applicant (AGS) is ONE WEEK after the applicant accepts the terms/conditions offered to them.
AGS has indicated in the announcement on 20 February 2012 that it to notify PIRSA that it accepts the terms/conditions offered in the lease.
Therefore, the actual mining lease should be formally issued in 1 week.
http://www.pir.sa.gov.au/__data/assets/pdf_file/0011/94952/mg01_mining_approvals_v1.9.pdf (page 17)
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