If you are a firm interested in conducting seismic surveys or exploring the minerals in a piece of land, you must obtain a valid mining tenement or a license. www.mining-journal.com lists details about the future of mining and the latest analysis of the mining market. Subscribe to their newsletter or sign up for free alerts.
Meanwhile, here are few things that you should get acquainted with before filing a mining proposal.
What Is Mining Tenement?
This is a type of claim, lease, or license prescribed under the Mining Act 1971. It states that interested firms must apply for this proposal so they have permission to conduct legal activities on the land.
A mining proposal is granted to make sure that the results of your exploration or survey will not have any undesirous effect on the environment.
Types Of Mining Tenements
According to the Mining Act 1978, there are a number of mining tenements. It includes:
- In order to qualify for a prospecting license, the total area of the land must equal 200 hectares.
- Unless specified, these licenses have to be marked compulsorily.
- There is no limit on the number of prospecting licenses that you can obtain. It is required that the concerned firm or individual pay $5000 as a security fee.
- The maximum time period of a prospecting license is four years, and there is provision for extension up to another four-year term.
- The holder of the license can extract or make use of 500 tons of material from the ground.
Special Prospecting License (SPL) for Gold
- The total area of the land must not exceed 10 hectares, and you cannot avail more than 10 SPL at a given time.
- It can be granted as a prospecting license if it is observed that the activities carried out have no negative effects.
- In order to avail an Exploration License, the minimum size of the land should be one block and the maximum size can be up to 70 blocks.
- These licenses are not marked and there is no limit whatsoever on the number of licenses that a person or firm obtains. However, a security fee of $5000 must be submitted for each license.
- This is a “holding” title that is given to a mineral identified as endangered, or which cannot be mined further.
- There is no maximum area for the piece of land and the term cannot exceed five years.
Applying For A Mining Proposal
Before you file a mining tenement you should be aware of the constraints and objections, if any. You should come up with a report of the land on which you plan to do a survey or any activity. Fill in details like the nature of the activity and any other details that may be required. A tenet management firm will assist you in completing further formalities.
Like Forex trading, trading cryptocurrency is also a way of converting different bitcoin into useable USD or vice versa. Unlike bitcoin mining, cryptocurrency trading allows you to enter the world of cryptocurrency without purchasing any hardware or buying any initial investments. Networks like Palm Beach Confidential can help you set up your trading account and run you through a crash course on what to expect when you first start trading bitcoin. Like Forex trading, www.wsj.com states that cryptocurrency trading is a lucrative method of earning money. Though Forex trading has its high points, cryptocurrency trading is much easier to get in and out.
The typical time spent to set up a bitcoin trading account is less than an hour. Forex demands that you open an account and have it verified with the access codes and registration forms they send which can take weeks if not months for to and fro communication. It will take an additional few days to transfer the funds you want to start off with your Forex broker from the bank account you like your account to be. Further, let’s not forget that Forex is virtually impossible to leave once you have registered as a trader. On the other hand, crypto-trading is an individual process; hence, transferring bitcoins from the exchange to your wallet is all you need to do to leave.
One of the biggest advantages of bitcoin is the spread. A spread is the price difference between the asking and bidding prices of a market maker. Though individually there may not be as much of a difference, don’t forget that when you’re selling by the thousands, the rate will be significantly higher which is not including the transactions fees. A recent study revealed that the spread for Forex is approximately 0.018% while with bitcoin, it is of the order 0.0002%. Technically this means that the difference between the exchange rates is so insignificant that you made virtually no loss in the crypto exchanging method.
Another key feature of cryptocurrency trading is margin trading and leverage. Margin trading allows you to use the selling or buying power of your peers by allocating some funds (or margin) to do so. This fund will be held until you can pay the capital and interest back. Leverage refers to trading for an amount you do not have by assigning a higher value to each currency you trade. Forex allows for some degree of margin trading and leverage but not to the extent of crypto trading. Both these methods can be employed to gain higher profits faster. Even if you do not have an amount to trade, if you can accurately predict the outcome of the trade, you will still earn a profit.
These inherent features barely cover why cryptocurrency trading is a great way to earn money. Many coins are known to triple and even quadruple the values almost immediately. The trick is to take it slow the first few tries and to educate yourself thoroughly on the rules of the playing field before even thinking about conducting a trade. Follow your instincts when trading till you find the safest yet fastest way to indulge in the promising prospects of the crypto trading market.