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Expenses of the mining sector for development
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Expenditures of the mining sector relating to development - that portion of the contractor's development expenditures which is directly related to the development of resources in the area specified in the contract, in accordance with generally accepted accounting principles, as well as the financial norms, rules and procedures of the Authority, including, among other things, application fees, annual fixed fees, and where applicable, exploration and appraisal expenditures in the area specified in the contract, as well as a share of expenditures on research and development1.
United Nations Convention on the Law of the Sea, 1997-12-01 edition, art. 13-2. ↩
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