Don't know why you refer to "third world countries". AFAIK there is a distiction between an exploration licence and a mining licence in pretty much every country in the world, including Aus. Any serious mining investor would know this.
It is generally a formality to convert an explo licence into a mining licence, if a satisfactory discovery is made, but the necessary formalities do have to be completed (e.g. environmental assessments, demonstration of adequate finance).
Don't know why you refer to "third world countries". AFAIK there...
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