Mineral Properties definition
Examples of Mineral Properties in a sentence
Promptly after the Effective Date, Ero shall conduct an environmental baseline study which shall describe the condition of the Mineral Properties and the Project Area (a “Baseline Study”).
For greater certainty, and without limitation, (i) capital associated with tailings expansion and the extension of mine life shall only be excluded to the extent that such capital does not constitute future growth capital for expansion of the Mining capacity and (ii) any capital expenditures which are undertaken for the purpose of developing a significant capital project or new mining project on the Mineral Properties will be considered future growth capital for expansion of the Mining capacity.
Ero will not be able to Transfer all or any part of its Ownership Interest (other than to a Permitted Affiliate of Ero) or undergo an Indirect Transfer (other than to a Permitted Affiliate of Ero) prior to the achievement of at least 90% of the design capacity of the mill on the Mineral Properties, as approved pursuant to the FID Approval, for 12 consecutive months.
Vale shall effect the Transfer of the legal title of the Assets, including the Mineral Properties, to the JV Company in accordance with Applicable Laws, including promptly obtaining any necessary approvals.
Once there has been a FID Approval and ▇▇▇ has received the Earn-in Interest on the JV Formation Date, the JV Company will work diligently and in good faith to commence construction of a mine on the Mineral Properties within 24 months (or 36 months in the event that Vale elects the Negative FID Free Carry) of the JV Formation Date (the “Construction Deadline”).