Decision to Mine Sample Clauses

Decision to Mine. (a) Once the Feasibility Study is obtained, the Management Committee will meet and determine whether to: (i) make the Decision to Mine; (ii) continue exploration activities on the Site; or (iii) discontinue operations and terminate this Agreement in accordance with clause 17.1.
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Decision to Mine. 9.1. Either party may request the Operating Committee to direct the Manager to undertake a feasibility study. If the Operating Committee declines to do so, that party may undertake its own feasibility study at its own cost. If that party's feasibility study later forms the basis of a Decision to Mine by the Operating Committee, then the Venture shall reimburse that party for all costs of the feasibility study. 9.2. After a Decision to Mine, each party shall choose one of the following two options: (1) to contribute in proportion to its participating interest to the Development Costs of the Mine; or (2) to decline to participate in the Mine. If a party chooses the second option, the following shall occur: (a) The party choosing the second option (the "selling party") shall be required to offer to sell its entire participating interest in the Venture to the non-selling party, and the non-selling party shall be required to make a good faith offer to purchase such participating interest. The selling party shall have a period of not less than 120 days after its receipt of the offer from the non-selling party within which to accept such offer. The parties then shall attempt in good faith to negotiate the terms and conditions of a sale of the selling party's participating interest to the non- selling party. (b) If the terms and conditions of a sale of the selling party's participating interest to the non-selling party cannot be agreed upon within 60 days after the commencement of negotiations, the selling party shall have the right to offer its participating interest to third parties, and the non-selling party shall be deemed to have waived its right of first refusal with respect to such participating interest. (c) In the event the selling party does not accept the offer of the non-selling party and does not sell its participating interest to a third party, the selling party's participating interest shall be subject to dilution in accordance with paragraph 8. 9.3. If after a Decision to Mine either party, having elected under paragraph 9.2 to contribute to the development costs of the mining project, fails to contribute to an approved program and budget in proportion to its participating interest, then the nondefaulting party, in addition to any other remedies it might have, shall have the right to acquire the defaulting party's entire participating interest for 90% of its Appraised Value.
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Decision to Mine. 9.1 ARO may at any time make a decision to mine based on the bankable Feasibility Study by giving notice to GGA/LIMO to that effect. 9.2 As soon as practicable after making a decision to mine, the Participants shall convene a meeting and at such meeting discuss in good faith whether ARL by itself or with the participation of any other entity (and, in the later case, the terms of any such participation) will proceed to mine the Tenements. 9.3 If GGA/LIMO does not elect to withdraw from the Joint Venture under Clause 9.4, the Participants shall be jointly responsible for the provision of such funds as ARL may require from time to time for the mining of the Tenements and, to the extent necessary, each Participant shall contribute funds by the way of capital or loan to ARL proportionate to its interest in the Joint Venture in accordance with Clause 10.3. 9.4 If ARO makes a decision to mine the Tenements, either Participant (“Retiring Participant”) may within 90 days of the making of such decision cease its participation in the Joint Venture by given written notice to that effect to the other Participant (“Remaining Participant”), whereupon: (a) the Retiring Participant shall cease to have any interest in the Joint Venture and in its place will be entitled to receive for the life of the MEPA Rights a royalty being of such percentage as the parties may in good faith negotiate and which shall not be less than a 4% Net Profits royalty; (b) the Remaining Participant should be deemed to be the owner of 100% of all issued capital in ARL and all assets of the Joint Venture; (c) the Remaining Participant must procure that ARL and any other relevant entity pay the Royalty to the Retiring Participant on a quarterly basis the first such payment to be made no later than 6 months after the commencement of mining production of the Tenements; and 9.5 the Participants must execute all acts, deeds and documents and do all other things necessary to give full force and effect to the provision of this Clause 9.4. 9.6 If ARO makes a decision to mine the joint venture, costs and termination provision in Clause 10.3 shall apply. 9.7 If ARO makes a decision not to mine the Tenements, the Participants may determine that ARL divest its whole interest in the Tenements to a third party for such price as the Participants and the third party may agree upon, which price may be paid in cash or partly in cash and partly by the allotment to the Participants or their nominees of shares in a list...
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Decision to Mine. (a) Either Party may at any time and at its sole discretion decide to commence Mining Operations in respect of Industrial Minerals or Other Minerals (as applicable) within all or part of the ERG Project Area (Decision to Mine). (b) Upon making a Decision to Mine in accordance with clause 6.1(a), the party who made the Decision to Mine (Mining Party) must promptly: (i) give notice to the other Party (Non-Mining Party) and the Permit Holders of the Decision to Mine including identifying the boundaries of the Mining Area which is appropriate to encompass all deposits of Industrial Minerals or Other Minerals (as applicable) which are to be included in the Mining Operations, together with any milling or concentrating plant and other appropriate infrastructure and facilities necessary for the efficient conduct of the Mining Operations; and (ii) instruct the Permit Holders to apply for, as the case may be, any authorisation or permission required under the Mining Code or other laws of Madagascar, including the conversion of Exploration Permits into Exploitation Permits and relevant environmental authorisations, the granting of which by the Mining Department or other Governmental Agency of Madagascar is a condition to the implementation of the Decision to Mine.
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Decision to Mine. The development of any Mineral resource discovered through the conduct of Joint Venture Activities and the Production thereof in or from the Exploration Area or the Mining Area and all related mining, processing, treatment and transportation shall be undertaken only in the manner and according to the procedures set out in this Part 19.
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Decision to Mine. (a) Following the Decision to Mine Meeting, PMPL will have a period of 60 days in which to give notice in writing to GBR to elect whether to: (1) contribute to all future costs of PML from completion of the DFS on a pro-rata basis (Contribution Notice); or (2) require GBR to fund PMPL's proportion (being for the avoidance of doubt, its Respective Proportion) of all future costs of PML from completion of the DFS pursuant to clause 7.3 (Funding Notice).
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Decision to Mine. 9.1 If after completion of the Feasibility Study the General Director recommends the establishment and development of a mine in the Project Area then such recommendation shall be submitted to the Board for approval. 9.2 Subject to review, approval and acceptance of the Feasibility Study by the Board of the Enterprise and subject to them being satisfied that the Project will be funded, a “Decision to Mine” may be made, in which case an application for a Mining Licence will be lodged with respect to all or part of the Mining Area. 9.3 Once a Decision to Mine has been made, BNG will lodge the Feasibility Study together with the Environmental Impact Assessment Report and any other documents as may be required, in application to the Government for a Mining Licence. 9.4 In making an application for a Mining Licence BNG shall apply for all benefits, concessions and other preferential treatment offered pursuant to the Investment Legislation. 9.5 Either party may withdraw from this Agreement and transfer its shares in the Enterprise to the other, by notice in writing to the other Party, in the event that: 9.5.1 The Mining Licence is issued upon terms and conditions which are inconsistent with the Parties’ application and/or with the terms and conditions of this Agreement; or 9.5.2 The Mining Licence is issued upon terms and conditions which are unacceptable to either Party; or 9.5.3 The Mining Licence does not issue within one year from the date of lodgement of the application (or such later date as the Parties may agree in writing). 9.6 For the avoidance of doubt, the provisions of Clause 9.3 shall also apply to any Mining Licence granted over the Mining Area.
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Decision to Mine. 13.1 The development of any mineralisation discovered through the conduct of Joint Venture Operations and the production of Product in or from the Exploration Area and all related mining, processing, treatment and transportation shall be undertaken only in the manner and according to the procedures set out in this clause 13. 13.2 If any mineralisation is discovered within the Exploration Area through Joint Venture Operations and the Board considers it to be capable of economic exploitation, the Board may direct the Manager to prepare for consideration by the Board a Feasibility Study. 13.3 The costs of preparing a Feasibility Study pursuant to clause 13.2 shall be Joint Venture Expenditure. 13.4 The Manager may submit to the Board at any time a proposal for mining of ore from all or any part of the Exploration Area (Development Area) based on a Feasibility Study prepared pursuant to clause 13.2 (Development Proposal). The parties shall ensure that the Board meets to consider and vote upon any Development Proposal within 30 days of its submission and if such Development Proposal is approved by the Board a Decision to Mine will be deemed to have been made on the date of such approval. 13.5 A Development Area must be no larger than is reasonably necessary for the purposes of the economic development of the ore including provision for the location of all infrastructure.
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Decision to Mine. 9.1 Any Decision to Mine shall be made by the Board of the Enterprise following review and acceptance of a Feasibility Study. 9.2 If after completion of a Feasibility Study the General Director recommends the establishment and development of a mine in the Project Area then such recommendation shall be submitted to the Board for approval. 9.3 If the General Director determines at any time that such establishment and development should be discontinued he/she shall submit a detailed recommendation setting forth the reasons for such recommendation to the Board for approval not to continue with the mine establishment and development. 9.4 Upon the Board making a Decision to Mine and subject to them being satisfied that the project can or will be funded, and upon grant of the Mining Licence, the General Director shall immediately commission the design of the Mining Facilities. 9.5 Any decision to commence construction of the Mining Facilities shall be made by the Board based on the design of the Mining Facilities commissioned by the General Director as such design may be amended prior to tabling with the Board of Management.
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