mineral lease

Definition of "mineral lease"
  1. An agreement that allows the leaseholder to excavate and remove minerals or valuable materials from a specified area under conditions such as duration, price, and royalties, also known as a mining lease
How to use "mineral lease" in a sentence
  1. The company secured a mineral lease to mine for gold in the area.
  2. One should thoroughly read and understand the terms of a mineral lease before signing it.
  3. The landowner, unaware of the property's value, agreed to a mineral lease that favored the mining company.

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