Common use of FEASIBILITY STUDIES PERIOD Clause in Contracts

FEASIBILITY STUDIES PERIOD. 1. The Feasibility Studies Period for any part of the Contract Area shall commence on the date the Company submits a written application hereinabove provided to the Ministry in relation to its decision to proceed with the evaluation and shall end upon the commencement of the Construction Period therefor as hereinafter provided. 2. As soon as the Company has submitted written application, the Company shall commence studies to determine the feasibility of commercially developing the deposit or deposits in question. The Company will be allowed a period of 12 (twelve) months to complete such studies and to select and delineate the area in which the Company may commence operation. Such area shall constitute the “Mining Area”, provided that the Minister may, subject to paragraph 2 of Article 16, on grounds of national security or that the conduct of mining in the proposed Mining Area will disproportionately and unreasonably damage the surrounding environment or limit its further development potential or significantly disrupt the sociopolitical stability in the region, object to the area proposed as the Mining Area within three (3) months of the Company’s designation of such Area. The Government and the Company agree to consult in good faith to overcome any such objections. If after a period of three (3) months from the date of notification of such objection by the Government there has been no resolution of the matter then either Party may proceed to resolve the matter in accordance with Article 21 paragraph 1. After the completion of such feasibility studies, the Company shall submit a Feasibility Study Report in the form set out in Annex “E”, which shall contain calculations and reasons for the technical and economical feasibility of the Enterprise supported by data, as specified in Annex “E”, calculations, drawings, maps and relevant information leading toward the decision whether or not to proceed with the Enterprise. The feasibility report shall also contain information concerning matters of interest to the Government during the whole life of the Enterprise. The Government may upon request by the Company, grant an extension of twelve (12) months for the Feasibility Studies Period if the Company considers that the data required and other necessary matters are not sufficiently available to come to a final decision or the Minister raises objections to the proposed Mining Area as set out above. 3. At any time during the Feasibility Studies Period the Company may submit a written application to the Minister that it desires to proceed with the construction of a mine and facilities to be used by the Company in its operation. The Minister shall be deemed to have approved any such application if it does not, in writing, object to same within three (3) months of receipt of such application. Upon approval of that application the Company shall commence and with reasonable diligence execute to completion the design of the facilities and subject to completion of the design of the facilities shall supply the same for the approval of the Minister, together with an estimate of the cost of such facilities and a time schedule for the construction thereof which time schedule shall, to the extent economically and practically feasible, provide for completing the construction of such facilities within thirty six (36) months after the approval of the plans and designs and time schedule for construction of such facilities. Within three (3) months after submission the Minister shall notify the Company of his approval (which shall not be unreasonably withheld) or disapproval of the mining plan, design and time schedule for construction, subject to paragraph 2 of Article 16. In the event of disapproval, the Minister shall notify the Company of the cause for disapproval and the Government and the Company shall consult in a good faith attempt to remove the cause for such disapproval. If after a period of three (3) months from the notification of such disapproval there has been no resolution of the matter then either party may proceed to resolve the matter in accordance with Article 21 paragraph 1. 4. The Feasibility Study Report as described in Annex “E” shall include physical impact studies into the effects of the operation of the Enterprise on the Environment and shall be prepared in accordance with the terms of reference set out in Article 26. Such studies may be carried out in consultation with appropriately qualified independent consultants retained by the Company and approved by the Government which approval shall not be unreasonably withheld. 5. The Company shall collaborate with and keep the Government informed by regular reports as to the progress and results of and costs incurred in respect of the investigations and studies and shall as and when the Government may reasonably require furnish the Government with the investigations and studies referred to in paragraph 4 above and with copies of all relevant findings made and reports prepared by the Company. 6. The Company shall at the completion of all the investigations and studies submit to the Government a final report stating the results of and the cost incurred in respect of the investigations and studies and the Company’s analysis of and its conclusions and projections in respect of those results, and such other information relating to the Enterprise or the Mining Area which is in the possession of the Company and which the Government may reasonably request. 7. Subject always to the provisions of paragraph 6 of Article 7, all reports and information supplied to the Government under this Article shall be treated as confidential, with the exception of those required for use by the Government for the national interest, provided that (and subject as aforesaid) if this Agreement is terminated pursuant to Article 22 hereof the reports and information shall become the property of the Government and may be used by the Government in such manner as it thinks fit.

Appears in 2 contracts

Samples: Contract of Work, Contract of Work (Newmont Mining Corp /De/)

AutoNDA by SimpleDocs

FEASIBILITY STUDIES PERIOD. 1. The Feasibility Studies Period for with respect to any part of the Contract Exploration Area shall commence on the date the Company submits a written application hereinabove provided request to the Ministry Department as provided in relation paragraph 3 of Article 6 with respect to its decision to proceed with the evaluation such Exploration Area and shall end upon the commencement of the Construction Period therefor with respect to such Exploration Area as hereinafter provided. 2. As soon as the Company Feasibility Studies Period has submitted written applicationbegun with respect to any Exploration Area, the Company shall commence studies to determine the feasibility of commercially developing the deposit or the deposits in questionof minerals within such Exploration Area. The Company will be allowed a period of 12 (twelve) months to complete such studies and to select and delineate and determine the area in size of 1 (one) or more Mining Areas. Each such Mining Area shall include at least 1 (one) deposit with respect to which the Company plans to commence construction and Mining operations. The Government may commence operation. Such area shall constitute for one of the “Mining Area”, provided that the Minister may, subject to reasons specified in paragraph 2 of Article 16, on grounds of national security or that the conduct of mining in the proposed Mining Area will disproportionately and unreasonably damage the surrounding environment or limit its further development potential or significantly disrupt the sociopolitical stability in the region, object to the area proposed as the a Mining Area within three (3) months of the Company’s 's designation of such Mining Area. The Government and the Company agree to consult in good faith in an attempt to overcome any such objections. If after a period of three (3) months from the date of notification of such objection by the Government Government, there has been no resolution of the matter matter, then either Party party may proceed to resolve the matter in accordance with Article 21 paragraph 1. In the event that the objection by the Government to any area designed by the Company as a Mining Area is upheld, and thereafter during the term of this Agreement it is determined that Mining is permissible within such area, the Company shall have the right to carry on such Mining in preference to any other Person. After the completion of such feasibility studiesFeasibility Studies with respect to a proposed Mining Area, the Company shall submit a Feasibility Study Report in the form set out in Annex "E", which shall contain calculations and reasons for the technical and economical feasibility of the Enterprise conducting Mining operations within such proposed Mining Area supported by data, as specified in Annex "E", calculations, drawings, maps and other relevant information leading toward the decision whether or not to proceed with the Enterprisesuch Mining operations. The feasibility report Feasibility Study Report with respect to any proposed Mining Area shall also contain information concerning matters include the then intended capacity of interest each proposed Mining and Processing operation within such Mining Area and any further evaluation work or further Exploration then deemed to the Government during the whole life of the Enterprisebe required. The Government may upon request by the Company, grant an extension of twelve (12) months for the Feasibility Studies Period if If the Company considers that the data required and other necessary matters are not sufficiently available to come to a final decision within the initial Feasibility Studies Period with respect to any Exploration Area or if the Minister Department raises objections to the any proposed Mining Area as set out above, the Company may seek the approval of the Department to the extension for twelve months of such Feasibility Studies Period, provided that such request for extension of the Feasibility Studies Period is submitted to the Department no later than the eighth anniversary of the date of the signing of this Agreement. 3. At any time during the Feasibility Studies Period with respect to any proposed Mining Area, the Company may submit a written application to the Minister Department that it desires to proceed with the construction of a mine Mine within such proposed Mining Area and facilities to be used by the Company in its operation. The Minister shall be deemed to have approved any such application if it does not, in writing, object to same within three (3) months of receipt of such application. Upon approval of that application application, the Company shall commence and and, with reasonable diligence diligence, execute to completion the design of the Mine and related facilities and and, subject to completion of the design of the facilities Mine and related facilities, shall submit supply the same for the approval of the Minister, Department together with an estimate of the cost of such Mine and related facilities and a time schedule for the construction thereof which time schedule shall, to the extent economically and practically feasible, provide for completing the construction of such Mine and related facilities within thirty thirty-six (36) months after the approval of the plans and designs and time schedule for construction of such Mine and related facilities. Within three (3) months after submission of the Minister design and time schedule, the Department shall notify the Company of his its approval (which shall will not be unreasonably withheld) or disapproval thereof, for one of the mining plan, design and time schedule for construction, subject to reasons specified in paragraph 2 of Article 16. In the event of disapproval, the Minister Company shall notify be notified by the Company Department of the cause for disapproval and the Government Department and the Company shall consult in a good faith to attempt to remove the cause for such disapproval. If If, after a period of three (3) months from the notification of such disapproval disapproval, there has been no resolution of the matter then either party may proceed to resolve the matter in accordance with Article 21 paragraph 1. 4. The Feasibility Study Report as described in Annex "E" with respect to a proposed Mining Area shall include physical Environmental impact studies into the effects of the operation of the Enterprise on the Environment and shall be prepared in accordance with the terms of reference set out in Article 26. Such studies may shall be carried out in consultation with appropriately qualified independent consultants retained by the Company and approved by the Government Government, which approval shall will not be unreasonably withheld. 5. The Company shall collaborate with and keep the Government Department informed by regular reports as to the progress and results of and costs incurred in respect of the investigations and studies and shall as and when the Government Department may reasonably require furnish the Government Department with the investigations and studies referred to in paragraph 4 above and with copies of all relevant findings made and reports prepared by the Company. 6. The Company shall shall, at the completion of all the investigations and studies studies, submit to the Government Department a final report stating the results of and the cost costs incurred in respect of the investigations and studies and the Company’s 's analysis of and its conclusions and projections in respect of those results, and such other information relating to the Enterprise or the Mining Area which is in the possession of the Company and which the Government Department may reasonably request. 7. Subject always to the provisions of paragraph 6 of Article 7, all reports and information supplied to the Government under this Article shall be treated as confidential, with the exception of those required for use by the Government for the national interest, provided that (and subject as aforesaid) ), if this Agreement is terminated pursuant to Article 22 hereof hereof, the reports and information shall become the property of the Government and may be used by the Government in such manner as it thinks fit.

Appears in 2 contracts

Samples: Contract of Work (Freeport McMoran Copper & Gold Inc), Contract of Work (Freeport McMoran Copper & Gold Inc)

AutoNDA by SimpleDocs

FEASIBILITY STUDIES PERIOD. 1. The Feasibility Studies Period for with respect to any part of the Contract Exploration Area shall commence on the date the Company submits a the written application hereinabove provided request to the Ministry Department provided for in relation paragraph 3 of Article 6 with respect to its decision to proceed with the evaluation such Exploration Area and shall end upon the commencement of the Construction Period therefor with respect to such Exploration Area as hereinafter provided. 2. As soon as the Company Feasibility Studies Period has submitted written applicationbegun with respect to any Exploration Area, the Company shall commence studies to determine the feasibility of commercially developing the deposit or deposits in questionof Minerals within such Exploration Area. The Company will be allowed a period of 12 (twelve) twelve months to complete such studies and to select and delineate and determine the area in size of one or more New Mining Areas. Each such New Mining Area shall include at least one deposit with respect to which the Company may plans to commence operationconstruction and Mining operations. Such area shall constitute the “Mining Area”, provided that the Minister The Department may, subject to for one of the reasons specified in paragraph 2 of Article 16, on grounds of national security or that the conduct of mining in the proposed Mining Area will disproportionately and unreasonably damage the surrounding environment or limit its further development potential or significantly disrupt the sociopolitical stability in the region, object to the area proposed as the a New Mining Area within three (3) months of the Company’s 's designation of such New Mining Area. The Government and the Company agree to consult in good faith in an attempt to overcome any such objections. If after a period of three (3) months from the date of notification of such objection by the Government there has been no resolution of the matter matter, then either Party may proceed to resolve the matter in accordance with paragraph 1 of Article 21 paragraph 121. In the event that the objection by the Department to any area designated by the Company as a New Mining Area is upheld, and thereafter during the term of this Agreement it is determined that Mining is permissible within such area, the Company shall have the right to carry on such Mining in preference to any other Person. 3. After the completion of such feasibility studiesthe Feasibility Studies with respect to a New Mining Area within an Exploration Area, the Company shall submit a Feasibility Study Report in the form set out in Annex "E", which shall contain calculations and reasons for the technical and economical feasibility of the Enterprise conducting Mining operations within such New Mining Area, supported by data, as specified in Annex "E", calculations, drawings, maps and other information relevant information leading toward to the decision whether or not to proceed with the Enterprisesuch Mining operations. The feasibility report Feasibility Study with respect to any New Mining Area shall also contain information concerning matters include the then intended capacity of interest each Mining and Processing operation within such New Mining Area and any further evaluation work or further Exploration then deemed to the Government during the whole life of the Enterprisebe required. The Government may upon request by the Company, grant an extension of twelve (12) months for the Feasibility Studies Period if If the Company considers that the data required and other necessary matters are not sufficiently available to come to a final decision within the initial Feasibility Studies Period with respect to any Exploration Area or if the Minister raises Department has raised objections with respect to the any proposed New Mining Area within such Exploration Area as set out above, the Company may seek the approval of the Government to the extension for twelve months of such Feasibility Studies Period, provided that such request for extension of the Feasibility Studies Period is submitted to the Government no later than the eighth anniversary of the date of the signing of this Agreement. 34. At any time during the Feasibility Studies Period with respect to any New Mining Area, the Company may submit a written application to the Minister Department that it desires to proceed with the construction of a mine Mine within such New Mining Area and facilities to be used by the Company in its operationoperation thereof. The Minister Department shall be deemed to have approved any such application if it does not, in writing, object to the same within three (3) months of receipt of such application. Upon After approval of that application such application, the Company shall promptly commence and with reasonable diligence execute to completion the design of the facilities Mine and subject to related facilities. Upon completion of such design, the Company shall submit the design of and Mining plan to the facilities shall supply the same Department for the approval of the Ministerapproval, together with an estimate of the cost of such Mine and related facilities and a time schedule for the construction thereof which thereof. Such time schedule shall, to the extent economically and practically feasible, provide for completing the construction of such Mine and related facilities within thirty thirty-six (36) months after the approval of the plans and designs design, Mining plan and time schedule for construction of such facilitiesschedule. Within three (3) months after submission of the Minister design, Mining plan and time schedule, the Department shall notify the Company of his its approval (which shall not be unreasonably withheld) thereof or its disapproval thereof, for one of the mining plan, design and time schedule for construction, subject to reasons specified in paragraph 2 of Article 16. In the event of disapproval, the Minister Department shall notify the Company of the cause for disapproval and the Government and the Company shall consult in a good faith attempt to remove the cause for such disapproval. If after a period of three (3) months from the notification of such disapproval there has been no resolution of the matter matter, then either party may proceed to resolve the matter in accordance with paragraph 1 of Article 21 paragraph 121. If within three months of any such submission, the Company has not received any objection in writing, the Company may consider that such submission has been approved. 45. The Feasibility Study Report as described in Annex "E" with respect to a New Mining Area shall include physical environmental impact studies into the effects on the Environment of the operation operations of the Enterprise on the Environment within such New Mining Area and shall be prepared in accordance with the terms of reference set out in Article 26. Such studies may be carried out in consultation with appropriately qualified independent consultants retained by the Company and approved by the Government which approval shall not be unreasonably withheldin accordance with the rules and procedures then in force in Indonesia. 56. The Company shall collaborate with and keep the Government informed by regular quarterly reports provided pursuant to paragraph 1 Article 7 will include data as to the progress and results of and costs incurred in respect of the investigations and studies and shall as and when carried on during the Government may reasonably require furnish Feasibility Studies Periods with respect to the Government with the investigations and studies referred to in paragraph 4 above and with copies of all relevant findings made and reports prepared by the Companyvarious Exploration Areas. 67. The With respect to any Exploration Area as to which no Feasibility Study Report has theretofore been submitted pursuant to paragraph 3 of this Article, the Company shall at the completion of all the investigations and studies submit to the Government a final report stating the results of and the cost costs incurred in respect of the investigations and studies thereof and the Company’s 's analysis of and its conclusions and projections in respect of those results, and such other information relating to the Enterprise or the Mining Area which is in the possession of the Company and which the Government may reasonably request. 78. Subject always to the provisions of paragraph 6 of Article 7, all All reports and information supplied to the Government under this Article shall be treated as confidential, with subject to the exception provisions of those required for use by the Government for the national interest, provided that (and subject as aforesaid) if this Agreement is terminated pursuant paragraph 6 of Article 7 relating to Article 22 hereof the reports and information shall become the property of the Government and may be used by the Government in such manner as it thinks fitconfidentiality.

Appears in 1 contract

Samples: Contract of Work (Freeport McMoran Copper & Gold Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!