| (1) | Subject to subsection (2), the holder of a retention permit has the exclusive right to he granted a mining right in respect of the retention area and mineral in question. |
| (2) | The holder of a retention permit must— |
[Section 35(2)(a) substituted by section 29(a) of the Mineral and Petroleum Resources Development Amendment Act, 2008]
| (b) | submit a six monthly progress report to the Regional Manager indicating— |
| (i) | the prevailing market conditions, the effect thereof and the need to hold such retention permit in respect of the mineral and land in question; and |
[Section 35(2)(b)(i) substituted by section 29(b) of the Mineral and Petroleum Resources Development Amendment Act, 2008]
| (ii) | efforts undertaken by such holder to ensure that mining operations commence before the expiry period referred to in section 32(4) or 34(3), as the case may be. |
| (c) | submit the retention permit for recording in the Mineral and Petroleum Titles Registration Office within 60 days after the permit has been issued. |
[Section 35(2)(c) inserted by section 29(c) of the Mineral and Petroleum Resources Development Amendment Act, 2008]
