73(1)A lessee may, subject to the laws in effect with respect to mining leases at the time of renewal and subject to the lessee having complied with the provisions of this Act and the regulations and with the terms and conditions of the mining lease during the term that is about to expire, apply in writing to the Minister at least six months prior to the expiration of the mining lease to have the lease renewed for a further term of twenty years.

73(2)A mining lease renewed under subsection (1) may be renewed in accordance with that subsection for two additional terms of twenty years each.