Mineral Content definition
Mineral Content includes all diamonds and other valuable gem stones and all marketable ores, metals and minerals contained in Subject Ore as separately estimated by the Payor using head grade or assays taken prior to entering mill or heap ▇▇▇▇▇ facilities, mill or heap ▇▇▇▇▇ operation recovery levels, and adjustments at the refinery or other processing facilities, as key components in the calculation of Mineral Content.
Mineral Content herein means that portion of the ore which Grantee, at its sole discretion, chooses to recover through beneficiation). Measurements to determine the total weight of all ore mined will be made by weighing or by volumetric measurements or by alternate methods as determined at Grantee's sole discretion. All calculations employed to determine total weight shall be based upon dry weight. Grantee shall keep records of the total weight and mineral content of all ore mined and beneficiated or processed for each property owner or royalty owner and the aggregate thereof. Grantee shall determine the average percent recovery of the mineral content of all ore beneficiated by dividing the mineral content recovered and sold (which figure represents the basis upon which Grantee's net smelter returns are calculated) by the total mineral content of all ore mined prior to beneficiation. Payment of production royalties to Grantor shall be based on the mineral content of all Subject Ore multiplied by the average percent recovery. All sampling, measuring, analyzing, weighing, assaying and calculating shall be done in accordance with procedures generally accepted in the mining industry.
Mineral Content means that portion of the ore which Lessee, at its sole discretion, chooses to recover through beneficiation). Measurements to estimate the total weight of Subject Ore and other ore mined will be made by weighing or by volumetric measurements or by alternate methods reasonably used in the mining industry, as determined at Lessee’s sole discretion. All calculations employed to estimate total weight shall be based upon dry weight. Lessee shall keep records of the total weight and mineral content of all ore mined and beneficiated or processed.
Examples of Mineral Content in a sentence
If the Payor elects to extract Mineral Content of value therefrom and utilizes or sells the same, the Royalty Holder shall receive the royalty provided under section 2 hereof in respect of such Products.
Lessee shall keep records of the total weight and Mineral Content of all ore mined and beneficiated for each property owner and the aggregate thereof.
Payment of production royalties to Lessor shall be based on the Mineral Content of all Subject Ore multiplied by the average percent recovery.
Subject, Ore and "other ore will be separately weighed, sampled, and analyzed to determine mineral content ("Mineral Content" which term means that portion of the ore which Lessee, at its sole discretion, chooses to recover through beneficiation).
If any production royalty becomes due and payable to Lessor prior to the determination of the total; Mineral Content of the Subject Ore or the average percent recovery for all ore beneficiated, Lessee shall pay Lessor a provisional royalty payment based on the then current available information pertaining to Mineral Content and average percent recovery as provided in Section 6.
Lessee shall determine the average percent recovery of the Mineral Content of all ore beneficiated by dividing the Mineral Content recovered and sold (which figure represents the basis upon which Lessee's net smelter returns are calculated) by the total Mineral Content of all ore mined prior to beneficiation.
More Definitions of Mineral Content
Mineral Content means all marketable ores, metals and minerals contained in Subject Minerals and Other Ore as separately estimated by the Payor using head grade or assays taken prior to entering mill or heap ▇▇▇▇▇ facilities, mill or heap ▇▇▇▇▇ operation recovery levels, and adjustments at the refinery, as key components in the calculation of Mineral Content. "Mineral Price Quotation" for a By-Product or Other Mineral Product means the final sale price as quoted on the London Metals Exchange, as published in Metals Week or a similar publication. If publication of the final quotation on the London Metals Exchange shall be discontinued, the parties shall select a comparable commodity quotation for purposes of calculating the Smelter Returns and Net Smelter Returns. If such selection has not been completed prior to the end of the calendar month following the month in which the quotation is discontinued, the average quotation for the calendar month in which the quotation is discontinued shall be used on an interim basis pending such selection.
Mineral Content which term means that portion of the ore which Lessee, at its sole discretion, chooses to recover through beneficiation). Measurements to determine the total weight of all ore mined will be made by weighing or by volumetric measurements or by alternate methods as determined at Lessee's sole discretion. All calculations employed to determine total weight shall be based upon dry weight. Lessee shall keep records of the total weight and Mineral Content of all ore mined and beneficiated for each property owner and the aggregate thereof. Lessee shall determine the average percent recovery of the Mineral Content of all ore beneficiated by dividing the Mineral Content recovered and sold (which figure represents the basis upon which Lessee's net smelter returns are calculated) by the total Mineral Content of all ore mined prior to beneficiation. Payment of production royalties to Lessor shall be based on the Mineral Content of all Subject Ore multiplied by the average percent recovery. If any production royalty becomes due and payable to Lessor prior to the determination of the total; Mineral Content of the Subject Ore or the average percent recovery for all ore beneficiated, Lessee shall pay Lessor a provisional royalty payment based on the then current available information pertaining to Mineral Content and average percent recovery as provided in Section 6. All sampling, measuring, analyzing, weighing, assaying and calculating shall be done in accordance with procedures generally accepted in the mining industry.
Mineral Content means all marketable ores, metals and minerals contained in Subject Minerals and Other Ore as separately estimated by the Payor using head grade or assays taken prior to entering mill or heap ▇▇▇▇▇ facilities, mill or heap ▇▇▇▇▇ operation recovery levels, and adjustments at the refinery, as key components in the calculation of Mineral Content. "Mineral Price Quotation" for a By-Product or Other Mineral Product means the final sale price as quoted on the London Metals Exchange, as published in Metals Week or a similar publication. If publication of the final quotation on the London Metals Exchange shall be discontinued, the parties shall select a comparable commodity quotation for purposes of calculating the Net Smelter Returns. If such selection has not been completed prior to the end of the calendar month following the month in which the quotation is discontinued, the average quotation for the calendar month in which the quotation is discontinued shall be used on an interim basis pending such selection. "Net Smelter Returns" or "NSR" for a Calendar Quarter in respect of all of the By-Products or Other Mineral Products means the sum of (i) for each of the By-Products or Other Mineral Products, the average Mineral Price Quotation for the By-Product or Other Mineral Product for a Calendar Quarter multiplied by the total number of appropriate units of measurement of the By-Product or Other Mineral Product beneficiated by the Payor or credited by the smelter, refiner or other bona fide purchaser to the Payor during that Calendar Quarter; less (ii) the deductions, adjustments and credits set forth in Section 3 hereof.