Periods for which prospecting licence may be granted or renewed

(1) The period for which a prospecting licence may he grants shall not - (i) in the case of mica, exceed two years; and (ii) in the case of any other mineral, exceed four years. (2) If the State Government is satisfied that longer period is required, in the public interest, to enable the licencees to complete prospecting operations it may renew a prospecting licence for a further period of one year at a time, but such further period shall not exceed four years in the aggregate.