Common use of Production Areas Clause in Contracts

Production Areas. The Production Areas shall consist of such parts of the Concession Area as, in the opinion of the CONCESSIONAIRE and subject to Article IV, Sections 2 and 3, have to be subject to Production, taking into account the extent and nature of the Iron Ore found therein and the requirements for the efficient and economic Production of such Iron Ore. The CONCESSIONAIRE shall define the proposed Production Area and shall submit to the GOVERNMENT a detailed map and descriptive statement based on actual surveys which shall set forth the boundaries of the proposed Production Area which shall be identified by metes and bounds, and the boundaries and size of the Iron Ore Deposit or deposits which the CONCESSIONAIRE intends to produce. The maps shall be of such scale and contain such detail, including geographical and topographical information, as may reasonably be necessary to identify accurately the proposed Production Area and the boundaries of the Iron Ore Deposits.

Production Areas. The Production Areas shall consist of such parts of the Concession Area as, in the opinion of the CONCESSIONAIRE and subject to Article IV, Sections 2 and 3, have to be subject to Production, taking into account the extent and nature of the Iron Ore found therein and the requirements for the efficient and economic Production of such Iron Ore. The CONCESSIONAIRE shall define the proposed Production Area and shall submit to the GOVERNMENT a detailed map and descriptive statement based on actual surveys which shall set forth the boundaries of the proposed Production Area which shall be identified by metes and bounds, and the boundaries and size of the Iron iron Ore Deposit or deposits which the CONCESSIONAIRE intends to produce. The maps shall be of such scale and contain such detail, including geographical and topographical information, as may reasonably be necessary to identify accurately the proposed Production Area and the boundaries of the Iron iron Ore Deposits.