Obligation, Even in Case of Unsuccess
The submission of the Final Exploration Report (RFP) is a requirement that goes beyond proving an economically viable ore body. It is a legal obligation. The presentation of the RFP, regardless of the research’s success, is a crucial step to avoid fines and the loss of the mining right over the tenement. The central question, therefore, is not whether the research was successful, but whether the titleholder has fulfilled their responsibility to the National Mining Agency (ANM).
What is its purpose?
The RFP is the final technical document that consolidates the data from the entire mineral research phase. It is prepared by a legally qualified professional, such as a geologist. Its purpose is to formalize the closing of the research phase by informing the ANM of the results of the work performed. The absence of the RFP, regardless of the reason, is interpreted by the agency as inertia or non-compliance, which leads to severe sanctions. Submitting the report is an act of compliance that guarantees the legal security of the process.
Report Even with Unsuccessful Research
For the ANM to evaluate the work performed, the RFP must be complete and accurate. In case the research is unsuccessful, which is not uncommon in the industry, the titleholder must submit a negative RFP. This report details the technical and economic reasons for the project’s unviability, formally justifying the cessation of work. The failure to submit the RFP or its untimely submission is an infraction that can result in fines and the lapse of the mining right, which means the loss of the tenement and all the investment made. The presentation of the report, whether positive or negative, is the only way to avoid such consequences.
The ANM, when analyzing the RFP, can make various decisions. The approval of a positive report is the path to requesting a mining license. In the case of a negative report, the ANM may archive the process, making the area available for future requests. In both scenarios, the process is concluded in a transparent manner and in accordance with the law. Compliance with the obligation to submit the RFP is, therefore, the basis for the project’s continuation or its proper conclusion.
📷Canva/Edition by ÍGNEABR
