Any mining company looking for some rights or access to extra land to conduct exploration, prospecting, mining, and processing or the ore to finish product should first look for the mining tenement system or request it from the host country/state/province. As a mining engineer or a mining company looking for extra land, it is wise to consider finding more information about each province’s rules and regulations. These rules include land acquisition, transfer rights, negotiation for compensation to native land owners, and many permits or leases under each mining act. The guide is all about giving you some idea son what you should meet or expect in your application process and why you need to have some insights about the whole concept of the mining tenement system.
All you Need to Know About Mining Tenement
Land Lease
This is the mining company’s permit to conduct both prospecting and exploration practices in the given land. It is always limited to a certain amount of time, and renewal is not guaranteed, but this depends on the state or province your ore reserve is located. As a mining company, it is wise for you to consider learning more about the limits and conditions at which your land access permit can be revoked. Application procedures that will allow you to extend the search and other access to profitable mineral reserve sites also should be at the top of your bucket list when finding more information about the mining tenement system.
Compensation Procedures
Payment of damages and compensations to the landowners should be information you should try to understand. Find more about the land ownership in your new mining zone or the native owner of the land. Each state has its own rules on land ownership and compensation procedure and other terns that you can include as a mining company. And if you choose between two tenement systems, it is wise to consider a favorable term that will see your mining activity into its mining success.
Exploration Lease
This is the permit or the right granted to a mining company to conduct all the mineral search activity such as drilling, sampling, and economic block calculation to determine the ore’s monetary value. This lease is also limited to a specific time but has an automatic subscription to the mining company. Lastly, any mining company should always work according to the state/country/province rules and regulations governing the mining industry of the place the company aims to establish the whole mining process.
