Paragraph 2 Right to explore

In consideration of the payments hereinafter provided for and the performance and observance by the Licensee of all the terms and conditions hereof the Secretary of State, in exercise of the powers conferred upon him by the Act, hereby grants to the Licensee LICENCE AND LIBERTY during the continuance of this licence and subject to the terms and conditions hereof to explore for the hard mineral resources of the exploration area in accordance with the exploration plan.

The Licensee shall not amend, alter or vary the exploration plan without the written consent of the Secretary of State which consent shall not be unreasonably withheld.

The Licensee shall give the Secretary of State at least three months' written notice of any request to amend, alter or vary the exploration plan and with such a request shall set out details of all proposed changes and the likely effect thereof with particular reference to any environmental effects.

The right to explore for the hard mineral resources of the deep sea bed conferred by this licence shall not include any right to their exploitation.