What is the period and tenure for which a ‘prospecting license’ is granted?
• PL for any mineral or prescribed group of associated minerals is granted for a maximum period of three years and for a maximum area of twenty five square kilometer. • PL can be renewed in such a manner that the total period for which a PL is granted does not exceed five years. • A person can be granted a maximum area of twenty five square kilometer in one or more PLs, but if the Central Government is of the opinion that in the interest of development of any mineral it is necessary to do so, the maximum area limit can be relaxed. • The person who undertakes prospecting under PL enjoys preferential right for grant of mining lease.
