You may need this licence if you intend to explore for minerals or recover minerals in NSW's offshore area. NSW's offshore area extends to three nautical miles from the coastal baseline. If you intend to undertake exploration activities outside this area, you will need to apply for a licence under Commonwealth legislation.
A retention licence is a holding title for a mineral resource. You may intend to apply for a retention licence if you have identified a mineral resource, but are unable to mine or explore the resource until a later date. A retention licence will allow you more time in which to plan to develop the resource and to obtain financing.
A retention licence does not authorise the recovery of minerals as part of a commercial mining operation. It does not apply to the recovery of petroleum. Your licence will specify the range of activities you are authorised to undertake.
Licence areas are based on a graticular boundary (or block) system. You may apply for a retention licence for a group of blocks only if the group forms a discrete area, and there are no more than 20 blocks in the group.