Subject to certain limitations, expenditure under the following headings qualifies for allowances (CAA 2001, s. 394):

(1)mineral exploration and access, defined as searching for or discovering and testing the mineral deposits of any source or winning access to any such deposits; and

(2)acquisition of a mineral asset, defined as any mineral deposit or land comprising mineral deposits, or any interest in or right over such deposits or land; it includes a licence but not plant or machinery;

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