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
