The decision to revoke a Mining Title or Authorisation specifies the date on which the Mining Title or Authorisation will expire.
All rights conferred on the holder by the Mining Title or Authorisation are extinguished as of the date of revocation of the Mining Title or Authorisation.
Obligations incumbent on the titleholder under a Mining Title or Authorisation also expire when it is revoked, except for the accrued obligations incumbent on any holder of a Mining Title or Authorisation at the expiry of same under this Code and its implementing regulations.
The holder also remains bound to remedy any damages caused by its activity prior to the revocation, and it remains liable for penalties incurred as a result of such activity, in particular for any misconduct that caused the revocation.
Execution of the revocation decision may be suspended provided it is appealed within sixty (60) days of the notification.
A decision to revoke may, however, stipulate that the suspensive effect of an appeal is conditional on the holder providing a guarantee, the amount of which will be vested in the State if the appeal is dismissed.
The maximum amount of the guarantee that can be demanded is the amount required to meet all of the holder’s outstanding obligations.