Common use of TAILINGS AND RESIDUE Clause in Contracts

TAILINGS AND RESIDUE. Tailings and other residue resulting from the milling or other beneficiating of ores produced from the leased premises and subsequently utilized in mining operations shall be the sole and exclusive property of Lessee prior to termination of this lease. Tailings and other residue remaining underground in the leased premises shall become the property of the Lessor upon termination of this lease. A separate written agreement will be negotiated by the parties in good faith for the construction of a surface mill tailings impoundment on the leased premises if determined necessary by the Lessee. The terms of such agreement shall be consistent with industry standards and the parties agree to submit to arbitration any matter to which the parties can not agree during the negotiation of such an agreement.

TAILINGS AND RESIDUE. Tailings and other residue resulting from the milling or other beneficiating of ores produced from the leased premises and subsequently utilized in mining operations shall be the sole and exclusive property of Lessee prior to termination of this lease. Tailings and other residue remaining underground in the leased premises shall become the property of the Lessor upon termination of this lease. A separate written agreement will be negotiated by the parties in good faith for the construction of a surface mill tailings impoundment on the leased premises if determined necessary by the Lessee. The terms of such agreement shall be consistent with industry standards and the parties agree to submit to arbitration any matter to which the the, parties can not agree during the negotiation of such an agreement.