and before the resident downrampers point out that the ILUA expired in 2009 it doesn't mater. Because the Mt M tenements were 'granted or renewed' in the period 2004-2009 they remain legally valid against the signatories to the ILUA - namely the Djungan and the State of QLD.
'Period in which the agreement will operate Start date 17/05/2004 End date 17/05/2009
Clause 4.1 provides that clauses 7.2, 7.3 and 7.4 will expire 5 years from the Commencement Date (that date being 17 May 2004).
Clause 4.2 provides that notwithstanding clause 4.1, the Agreement will continue to apply to Exploration Interests and Mining Interests that were granted or renewed in reliance on this Agreement.
Clause 4.3 provides that if the Federal Court determines that Native Title does not exist in relation to any part(s) of the Area ("Extinguishment Area") this Agreement will not apply to any Extinguishment Area.
Statements of the kind mentioned in ss. 24EB(1) or 24EBA(1) or (4) [Explanatory notes in brackets inserted by the National Native Title Tribunal ]
Clause 6.1 The Parties state as follows: (c) Subdivision P, Division 3, Part 2 of the NTA is not intended to apply to the Future Acts described in clauses 7.2 to 7.6.
Clause 7 – Agreement to Future Acts 7.1 The Parties consent to the Future Acts described in clauses 7.2 to 7.6.
7.2. The Parties consent to the grant of Prospecting Permits and the exercise of rights under the Prospecting Permit provided that: (a) the Prospecting Permit contains the Native Title Conditions for Prospecting Permits ; and (b) the Grantee Party pays the amount required to be paid under clause 11.1 [The Native Title Conditions for Prospecting Permits are contained in Schedule 3 of the agreement. Clause 11.1 refers to Schedule 7 which sets out the compensation payment under the agreement]
7.3 The Parties consent to the grant of Exploration Permits or Mineral Development Licences and the exercise of rights under the Exploration Permit or Mineral Development Licence provided that: (a) in the case of an Exploration Permit, the Exploration Permit is granted for an area of land in Queensland comprising 50 Sub-blocks or less; and no more than 150 Sub-blocks are held in Queensland at any time by a Grantee Party under Exploration Permit(s); and
(b) in the case of a Mineral Development Licence, the Mineral Development Licence is issued for an area of land in Queensland comprising 50 hectares or less; and no more than 150 hectares are held in Queensland at any time by a Grantee Party under Mineral Development National Native Title Tribunal Page 2 of 3 Extract from Register of Indigenous Land Use Agreements QI2003/045 Version created: 08/02/2011 8:12 AM Further information: National Native Title Tribunal 1800 640 501 Licence(s); and
(c) the Exploration Permit or Mineral Development Licence contains the Native Title Conditions for Exploration Permits and Mineral Development Licences (respectively); and
(d) the Grantee Party pays the amount required to be paid under clause 11.1 [The Native Title Conditions for Exploration Permits and Mineral Development Licences are contained in Schedule 4 of the agreement]
7.4 The Parties consent to the grant of Mining Claims or Mining Leases and the exercise of rights under the Mining Claim or Mining Lease provided that:
(a) the Grantee Party has complied with the Alternative Procedure for Mining Interests ; and
(b) in the case of a Mining Lease, the Mining Lease is granted for an area of land in Queensland comprising 50 hectares or less; and no more than 300 hectares are held in Queensland at any time by a Grantee Party under Mining Lease(s)'
MNM Price at posting:
13.4¢ Sentiment: Buy Disclosure: Held