Exploration, Mining and Development Clause Samples
The 'Exploration, Mining and Development' clause defines the rights and obligations of parties regarding the search for, extraction, and processing of mineral resources on a specified property. It typically outlines the procedures for conducting exploration activities, the conditions under which mining operations may commence, and the requirements for developing infrastructure or facilities. This clause ensures that both parties understand the scope of permitted activities, timelines, and compliance with regulatory standards, thereby providing a clear framework for resource development and minimizing disputes over operational conduct.
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Exploration, Mining and Development. During the term of this Purchase Option, DTOR shall have sole responsibility for, and possession and use of, the Mining Claims with the right to carry out such exploration, mining, and development activity as is permitted by the Plan of Operations, and shall be entitled to register notice of its rights under this Agreement in the records relating to the Mining Claims maintained by the BLM. DTOR must notify Vendor in writing of any proposed changes to the Plan of Operations or any other permit(s) pertaining to the Mining Claims until all payments hereunder have been made by DTOR.
(a) Notwithstanding anything else contained in this Agreement, DTOR shall not acquire any ownership rights or interest in the Mining Claims unless and until it has paid the full Purchase Price. DTOR may not pledge, commit, or forward-sell any precious minerals from the Mt. ▇▇▇▇▇▇ Mine without the Vendor’s written consent (which is hereby expressly not given), until it has paid the full Purchase Price.