The minimum annual expenditure on exploration licenses

The minimum annual expenditure on exploration licenses

• The holder of a prospecting license shall comply with the minimum annual exploration expenditure as outlined in the table.

• The minimum annual exploration expenditure is calculated based on the total area of the license site in square kilometers (with any fraction of a kilometer counted as a full kilometer), multiplied by the applicable minimum annual exploration expenditure value for the corresponding year as outlined in the table, using the following formula

  Minimum Annual Expenditure = Total License Area in Kilometers (or any part thereof) × Minimum Annual Expenditure Value for that Year

   

  Year	Per square kilometer or any part thereof (SAR)
  1	750
  2	1,500
  3	3,000
  4	3,000
  5	4,500
  6	4,500
  7	5,600
  8	5,600
  9	7,500
  10	7,500
  11	7,500
  12	7,500
  13	7,500
  14	7,500
  15	7,500