Exploration Phase definition

Exploration Phase or “Phase” means any of the periods specified in Article 3 in which the Contractor is required to complete the Minimum Work Programme specified therein.

Exploration Phase means the phase covered by an Exploration Authorisation and determined in accordance with the provisions of Article 4.1 of this Contract.

Exploration Phase shall cover those activities directed toward ascertaining the existence, location, quality or commercial value of deposits of Products. Such phase shall include all activities undertaken through the completion of the Feasibility Study, but shall not include construction of milling or processing facilities or commencement by commercial mining operations on the Properties.

Examples of Exploration Phase in a sentence

• One (1) successive extension of three (3) Contract Years (the Optional Exploration Phase) may follow the Initial Exploration Phase, provided that Contractor notifies Sonangol in writing of such extension, at least thirty (30) days before the end of the Initial Exploration Phase, and if, unless otherwise agreed by Sonangol, Contractor has fulfilled its obligations in respect of such Phase.

• Subject to Clauses 8.2.1 (Following Designated Project Designation), and other than in respect of the Undesignated Land, Ma’aden shall not surrender, dispose or transfer (other than to the Company or in accordance with Applicable Law) any Exploration Licenses relating to the Ma’aden Land during the Exploration Phase except with the approval of the Technical Committee.

• In case, the Contractor exercises its option to relinquish a part of the Contract Area at the end of the first Exploration Phase, then such area to be relinquished shall not be less than twenty five percent (25%) of the original Contract Area and the Contractor shall be entitled to retain the balance area including any Development Area and Discovery Area in not more that three (3) areas of simple geometrical shapes.

• The Contractor commits to undertake social projects during the Exploration Period valued at US$17,000,000 (seventeen million United States dollars), capped at US$15,000,000 (fifteen million United States dollars) in the Exploration Phase I, US$1,000,000 (one million United States dollars) in Exploration Phase II and US$1,000,000 (one million United States dollars) in Exploration Phase III.

• Pursuant to the Concession Decree-Law, an Initial Exploration Phase of five (5) Contract Years shall start from the Effective Date.

More Definitions of Exploration Phase

Exploration Phase means any of the Initial Licensing Period, the First Renewal Period and the Second Renewal Period including any extensions thereof, as the case may be.

Exploration Phase means the period of time defined for Exploration in paragraph 5.1.

Exploration Phase means the period during which the Company’s activities are directed towards the finding and searching for petroleum on the Scheduled Lands and shall include the extended exploration phase as hereunder defined;

Exploration Phase. Means all exploration periods, the Initial Exploration Phase and the Exploration Extension Phase, provided in Article 11.

Exploration Phase. Means the exploration period foreseen in Article 11.2.

Exploration Phase means exploration and land disturbance activities to determine the financial viability of a site. The exploration phase is not considered part of "mining operations."

Exploration Phase means Operations conducted to ascertain the existence, location, extent or quantity of any deposit of ore or mineral. The Exploration Phase shall cease when a commercially recoverable reserve is determined to exist.