Mining Titles. Within fifteen (15) days following signature of this Convention, the Minister in charge of mines and geology shall commence the procedure for delivery of the Mining Permit, which shall be granted to GEOVIC within not less than ninety (90) days.
Mining Titles. (a) The Payor shall:
(i) except pursuant to a Transfer in compliance with Section 8.6 or pursuant to a Permitted Encumbrance, be the only legal and beneficial owner of, and ensure that no other person holds or acquires any ownership right, title or interest in, the Mining Titles;
(ii) subject to Section 8.5(b), keep the Mining Titles in good standing; and
(iii) maintain all Approvals necessary to operate the Mine and construct, develop and operate the Mine in good standing and continue to have all rights and benefits thereunder. - 34 -
(b) Notwithstanding Section 8.5(a), the Payor shall be entitled to abandon, surrender, relinquish or let lapse any of the Mining Titles, provided that:
(i) the Payor shall have provided the Payee with at least 30 days’ prior written notice of its intention to abandon, surrender, relinquishment or let lapse such Mining Titles, during which period the Payee shall be entitled to elect to acquire such Mining Titles (or any portion thereof) for the price of $1 and payment of any Taxes on such acquisition; and
(ii) the Payor shall have determined, acting reasonably and subject to Section 8.1(b), that it is not economical to mine the Minerals within the Mining Titles for which it proposes to abandon, surrender, relinquish or let lapse. For greater certainty, if any such Mining Titles are re-acquired by any Payor Group Entity, such Mining Titles shall be deemed to be part of the Mining Titles upon such re-acquisition (provided that they continue to meet the criteria of Mining Titles as set out in the definition of “Mining Titles”).
Mining Titles. If there are mining or exploration titles present over the land, the next step is to email the Division of Resources and Geoscience, NSW Department of Planning, Industry and Environment. The Division of Resources and Geoscience can confirm any titles present and advise accredited assessors of the titleholder contact details, where required. The landholder must inform the title holder of the ‘terms’ of the agreement by supplying them with a BSA template. The landholder or accredited assessor must inform the BCT of this interest as soon as possible and supply evidence that interest holders have been contacted as part of the BSA application. The BCT will need to provide a final draft of the BSA to the title holder. The title holder will need to provide a letter of consent to the BSA and will be required to sign supporting documentation before BCT will execute the BSA. The BCT can provide support in negotiating with interest holders where there are objections to establishing a BSA. The Division of Resources and Geoscience via the BCT can also collaborate in this capacity and are responsible for consulting with titleholders on specific matters. This can include assisting titleholders understand the potential implications of a BSA on exploration, actual or perceived. The BCT will provide the BSA to the coal, petroleum or minerals title holder. Mining lease, mineral claim and petroleum production lease title holder will need to provide a signed letter of consent to the entering a BSA on the land.
Mining Titles. The Company and the Company Subsidiaries hold either freehold title, mining leases, mining claims or other conventional proprietary or contractual interests or rights, including interests and rights under option and/or joint venture agreements recognized in the jurisdiction in which a particular property is located, in respect of the ore bodies and minerals located in the properties, including the Xxxxx Project, in which the Company or the Company Subsidiaries have an interest under valid, subsisting and enforceable title documents, contracts or other recognized and enforceable agreements or instruments, which are sufficient to permit the Company or the Company Subsidiaries to explore for minerals relating thereto as disclosed in the Disclosure Documents and, to the knowledge of the Company, all such property interests including those relating to the Xxxxx Project, in which the Company or any Company Subsidiary has any interest or right have been validly located, leased or permitted and the location notices, leases or permits (as the case may be) evidencing the same have been recorded in accordance with all applicable Laws and are valid and subsisting. The Company and the Company Subsidiaries have all necessary surface rights, access rights and other necessary rights and interests relating to the properties, including the Xxxxx Project, in which the Company or the Company Subsidiaries have an interest as described in the Disclosure Documents, granting the Company or the Company Subsidiaries, as the case may be, the right and ability to explore for minerals for development purposes as are appropriate in view of the rights and interests therein of the Company and the Company Subsidiaries, with only such exceptions as do not materially interfere with the use made by the Company or the Company Subsidiaries of the rights or interests so held and each of the documents, agreements and instruments evidencing the proprietary interests or rights referred to above and each of the obligations relating thereto are in good standing in the name of the Company or the Company Subsidiaries, as the case may be. No person has any written or oral agreement, option, understanding or commitment, or any right or privilege (whether by Law, contractual or otherwise) capable of becoming such for the purchase or other acquisition from the Company of any material real or personal property of the Company.
Mining Titles. The Xxxxx Property has been properly staked, located and recorded pursuant to the applicable laws and regulations of the Province of Newfoundland and Labrador. Schedule A is a description of one (1) the mining licences comprising the Xxxxx Property.
Mining Titles
