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- 2023 Edition
- Title 30. Mineral Lands and Mining
- Chapter 26. Deep Seabed Hard Mineral Resources
- Subchapter I. Regulation of Exploration and Commercial Recovery By United States Citizens
30 U.S.C. § 1418 Diligence Requirements
Library | United States Statutes |
Edition | 2023 Edition |
Currency | Current through P.L. 118-19 (published on www.congress.gov on 10/06/2023) |
(a) In general
The exploration plan or recovery plan and the terms, conditions, and restrictions of each license and permit issued under this subchapter shall be designed to assure diligent development. Each licensee shall pursue diligently the activities described in the exploration plan of the licensee, and each permittee shall pursue diligently the activities described in the recovery plan of the permittee.
(b) Expenditures
Each license shall require such periodic reasonable expenditures for exploration by the licensee as the Administrator shall establish, taking into account the size of the area of the deep seabed to which the exploration plan associated with the license applies and the amount of funds which is estimated by the Administrator to be required for commercial recovery of hard mineral resources to begin within the time limit established by the Administrator. Such required expenditures shall not be established at a level which would discourage exploration by persons with less costly technology than is prevalently in use.
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