What is a mining tenement?

A license, permit or lease providing rights to explore for and/or extract minerals under the surface of an area of land.

What is a mining lease WA?

Description. You will need this lease if you intend to conduct mining production activities in Western Australia’s onshore areas. You would ordinarily apply for this lease for an area over which you already hold an exploration licence.

How does a mining lease work?

To be granted a mining lease, applicants must demonstrate that: there is an economically mineable mineral deposit within the area of the proposed lease, and. they have the financial and technical resources to carry out mining in a responsible manner.

How do mining leases work in Australia?

The term of a mining lease is 21 years and may be renewed for further terms. The lessee of a mining lease may work and mine the land, take and remove minerals, and do all of the things necessary to effectually carry out mining operations in, on or under the land, subject to conditions of title.

What is a mining lease payment?

A legal contract for the right to work a mine and extract the mineral or other valuable deposits from it under prescribed conditions of time, price, rental, or royalties.

Where can you prospect in WA?

You can prospect on:

  • unallocated or vacant Crown land not covered by a granted mining tenement.
  • Crown land that is the subject of a pastoral lease, or lease for grazing and timber and is not covered by a granted mining tenement, provided prior notice is given to the lessee.

How long does a mining claim last?

The maximum period is 90 days from the staking of a claim or site on the ground. However, some states require earlier filings, such as 30 or 60 days from the date of location. Location notices must contain the following basic information (43 CFR 3832, Subpart A, and 43 CFR 3833, Subpart A):

How can I get out of a mining lease?

On filing of Mining Lease application by the Composite License holder alongwith first installment of upfront payment, the State Govt. issues a letter of intent for a Mining Lease. 15. A Mining Development and Production Agreement shall be executed between the State Govt.

Who owns the minerals in WA?

Mining, minerals and petroleum rights in Western Australia All minerals including petroleum and geothermal energy existing in their natural form are owned by the State.

How do you value a mining lease?

The Court indicated that a mining lease should be valued only by reference to the remaining term of the lease, rather than by reference to any additional period by which the lease may be extended (implicitly, even if such extension is likely).

Where can I detect for gold in Western Australia?

Yalgoo has a rich gold mining heritage and many prospectors venture to this out back region to experience the thrill of finding their own gold nugget. The best times to go gold detecting around Yalgoo are through the cooler months of autumn, winter and spring.