MINERAL LEASE. On application made by the Corporation, not later than 3 months after all its proposals hereunder have been approved and the Corporation has complied with the provisions of subclause (4) of Clause 8, for a mineral lease in part or parts over that part of the mining areas being more particularly all the area hatched yellow (hereinafter called “the yellow area”) on the said plan marked “A” the State shall upon the surrender by the Corporation of all mineral claims held by it at the date hereof in the yellow area cause to be granted to the Corporation at the rental specified from time to time in the Mining Act a mineral lease of such land so applied for (notwithstanding that the survey in respect thereof has not been completed but subject to such corrections to accord with the survey when completed at the Corporation’s expense) such mineral lease to be granted under and, except as otherwise provided in this Agreement, subject to the Mining Act but in the form of the Second Schedule hereto and in respect of the minerals set out therein and subject to such of the conditions of the surrendered mineral claims as the Minister for Mines determines and such other conditions as the Minister for Mines may reasonably require from time to time for the purpose of reducing or making good injury to the surface of the land in the mineral lease or injury to anything on or below the surface of that land.
MINERAL LEASE. As soon as practicable after the said proposals become approved proposals the State will in accordance with the relevant approved proposal on the application of the Joint Venturers cause to be granted to them a mineral lease in the form set out in the Schedule to this Agreement for the mining of iron ore from such part or parts of the land comprised in the mining areas as is or are then subject to the right of occupancy and referred to in the said proposals. The following provisions will apply to the mineral lease —
(a) the total area of the land the subject thereof will not exceed three hundred (300) square miles;
(b) the boundaries of the land comprising such area will be so located as to form either a single parallelogram or a number of parallelograms;
(c) the rent reserved thereby will be that fixed in Section 9.04;
(d) the Joint Venturers will therein covenant to pay to the State in addition to the said rent the royalties fixed in Section 21.01;
MINERAL LEASE. Contemporaneous with the execution of this Option, Optionor executes the Mineral Lease in the form as set forth on Exhibit A attached hereto. In the event this Option is timely exercised as provided herein, BPI shall execute the Mineral Lease and said lease shall be deemed delivered to BPI and shall cover and be effective as to all interest of Optionor in the Minerals as of the date of this Option.
MINERAL LEASE. As soon as practicable after the said proposals become approved proposals the State will in accordance with the relevant approved proposal on the application of the Joint Venturers cause to be granted to them a mineral lease in the form set out in the Schedule to this Agreement for the mining of iron ore from such part or parts of the land comprised in the mining areas as is or are then subject to the right of occupancy and referred to in the said proposals. The following provisions will apply to the mineral lease —
(a) the total area of the land the subject thereof will not exceed three hundred (300) square miles;
(b) the boundaries of the land comprising such area will be so located as to form either a single parallelogram or a number of parallelograms;
(c) the rent reserved thereby will be that fixed in Section 9.04;
(d) the Joint Venturers will therein covenant to pay to the State in addition to the said rent the royalties fixed in Section 21.01;
(e) subject to the due payment by the Joint Venturers of the said rent and royalties and to the due performance and observance by them of their other obligations thereunder and of their obligations under this Agreement the term thereof will be twenty one (21) years as from the date of the granting thereof but the Joint Venturers will during the continuance of this Agreement have the right to take successive renewals of the said term each for a period of twenty one (21) years upon the same terms and conditions subject to the sooner determination of the said term upon the cessation or determination of this Agreement. The said right will be exercisable by the Joint Venturers making written application for any such renewal not later than one month before the expiration of the current term of the mineral lease;
(f) subject to paragraphs (a) to (e) inclusive of this Section and as in this Agreement otherwise provided all relevant provisions of the Mining Act and the Regulations thereunder will apply but subject to their discharging and carrying out their obligations under this Part (Part III) of this Agreement the Joint Venturers will not be required to comply with the labour conditions imposed by the said Act in respect of mineral leases.
MINERAL LEASE. 14.1 The provisions of clause 13 are based on the assumption that the consent of the Minister of Minerals & Energy to the cession of the Mineral Lease by Kalgold to ARM Platinum (“Consent”) is granted prior to the Closing Date.
14.2 Each of the Parties hereby undertakes to –
14.2.1 use commercially reasonable endeavours and to co-operate with one another in good faith to procure that the Consent is granted prior to the Closing Date; and do all such things and sign all such documents as may be necessary or incidental to the granting of the Consent.
14.3 In the event that the Consent is not granted prior to the Closing Date, each of the Parties hereby undertakes to use commercially reasonable endeavours and to co-operate with one another in good faith to procure that the Consent is granted as soon as possible after the Closing Date.
14.4 In the event that the MPRD Act comes into effect (MPRD Act Effective Date”) prior to the Consent having been granted, Kalgold will remain the holder of the Mineral Lease but will not conduct any prospecting or mining operations whatsoever in the Kalplats Area.
14.5 In the event that the Mineral Lease is terminated for whatever reason prior to the expiry of a period of 1 (One) year from the MPRD Act Effective Date, Harmony, as the ultimate recipient of the Sale Asset Consideration, shall be obliged to refund an amount of R20,000,000.00 (Twenty million rands) of the Sale Asset Consideration to ARM Platinum in cash within 20 (Twenty) business days of receipt of a written demand from ARM Platinum, unless it has already refunded such amount to ARM Platinum in accordance with the provisions of clause 14.9 or unless the provisions of clause 14.7 are applicable.
14.6 ARM Platinum shall be obliged to notify Harmony in writing whether it wishes, or does not wish, to conduct mining operations in the Kalplats Area on or before the expiry of a period of 9 (Nine) months from the MPRD Act Effective Date.
14.7 If ARM Platinum notifies Harmony that it does not wish to conduct mining operations in the Kalplats Area, Kalgold shall be obliged to allow the Mineral Lease to expire and shall not be entitled to apply for a prospecting or mining right in respect of the Kalplats Area in terms of the provision of the MPRD Act, provided that, in this event, the provisions of clause 14.5 will not apply.
14.8 If ARM Platinum notifies Harmony that it wishes to conduct mining operations in the Kalplats Area, Harmony shall be obliged to procure that Kalgold...
MINERAL LEASE. As soon as practicable after the said proposals become approved proposals and the Joint Venturers have complied with the provisions of subclause (5) of Clause 7 the State shall in accordance with the relevant approved proposal on the application of the Joint Venturers cause to be granted to them a mineral lease in the form set out in the Schedule to this Agreement for the mining of iron ore from such part or parts of the land comprised in the mining areas as is or are then subject to the rights of occupancy and referred to in the said proposals. The following provisions shall apply to the mineral lease —
MINERAL LEASE. If all or any part of the Real Estate is subject to any subsisting oil and/or gas lease: (a) Buyer shall acquire that proportion of Seller’s interest in the lease that is attributable to the Included Minerals, if any; (b) Buyer shall acquire any such interest automatically by virtue of the conveyance of the Real Estate to Buyer, without any warranty or representation of any kind as to the existence, value, status, quality or character of the interest acquired by Buyer and without a separate instrument of assignment (but each party agrees to execute and deliver upon request any division order or similar instrument that is consistent with the provisions of this Agreement); (c) Seller may elect to specify the effective date of the transfer of the Included Minerals (the “Mineral Transfer Date”) in the deed conveying the Real Estate to Buyer and, if Seller so elects, the Mineral Transfer Date shall be the first day of the calendar month in which the Closing occurs; otherwise, the Mineral Transfer Date shall be the date of the conveyance; (d) all mineral payments, including any bonuses, rents, royalties and/or other payments under any oil and/or gas lease, accruing to Seller prior to the Mineral Transfer Date shall belong to Seller, whether paid before or after Closing; and (e) such mineral payments shall belong to Buyer to the extent attributed to the Included Minerals and accruing on or after the Mineral Transfer Date.
MINERAL LEASE. Lease No Mineral Field
MINERAL LEASE. This Mineral Lease (herein “this Lease”) is made and entered into this 9th day of September, 2006, by and between THE COUNTY OF WASHINGTON OF THE STATE OF ILLINOIS, Washington County Courthouse, Nxxxxxxxx, Xxxxxxxx 00000 (herein the “Lessor”), and BPI ENERGY, INC., of 90 X. Xxxxxxxx Xxxxx, Xxxxxxxxxxxx, Xxxxxxxx 00000, (herein the “Lessee”).
MINERAL LEASE after application is made by the Company for a mineral lease of any part or parts (not exceeding in total area fifty (50) square miles and in the shape of a rectangular parallelogram or parallelograms or as near thereto as is practicable) of the mining areas in conformity with the Company’s detailed proposals under clause 4 hereof as finally approved or determined cause any necessary survey to be made of the land so applied for (the cost of which survey to the State will be recouped or repaid to the State by the Company on demand after completion of the survey) and shall cause to be granted to the Company a mineral lease of the land so applied for (notwithstanding the survey in respect thereof has not been completed but subject to such corrections as may be necessary to accord with the survey when completed) for iron ore in the form of the Second Schedule hereto for a term which subject to the payment of rents and royalties hereinafter mentioned and to the performance and observance by the Company of its obligations under the mineral lease and otherwise under this Agreement shall be for a period of twenty-one (21) years commencing from the date of application by the Company therefor with rights to successive renewals of twenty-one (21) years upon the same terms and conditions but subject to earlier determination upon the cessation or determination of this Agreement PROVIDED HOWEVER that the Company may from time to time (without abatement of any rent then paid or payable in advance) surrender to the State any portion or portions (of reasonable size and shape) of the mineral lease; page 74 Version 03-a0-04 As at 17 Jan 2014 Extract from xxx.xxx.xx.xxx.xx, see that website for further information (b) subject to and in accordance with the said proposals as finally approved or determined —
