MINING LOTS definition

MINING LOTS means both the mining lots and applications for mining concessions referred to in Representation I.b) above;
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MINING LOTS has the meaning set out in the recitals of this Agreement;
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MINING LOTS or "Property", it shall be understood this reference is being made to the mining concessions mentioned in sections A, B, C and D above and when mention is made of "Concession" or "Concession Rights", it shall be understood that this reference is being made to the rights of the mining exploitation of the Lots and to the mining exploitation concession that arise therefrom.
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Examples of MINING LOTS in a sentence

  • The person or persons who carry out the exploration efforts will assume any labor and environmental liability that may arise from its activities on the MINING LOTS.

  • However, LAGARTOS will continue to be bound to pay taxes over the MINING LOTS for the following semester and LAGARTOS must give notice within 60 (sixty) days prior to the deadline of a Payment mentioned in section 2.1(a) above or be responsible for making that Payment.

  • LAGARTOS is also empowered to take samples and/or bulk samples of Minerals from the MINING LOTS for assaying, metallurgical, and other testing.

  • LAGARTOS binds itself to maintain the MINING LOTS in good standing, free and clear of any lien or limited ownership and to defend the rights of same.

  • LAGARTOS shall be responsible for mining rights payments and taxes with respect to the MINING LOTS and all subsequently acquired claims as well as to prove exploration works/labors.

  • CASCABEL’s personnel shall be permitted access to so collect and given access to mining equipment and facilities to do so as long as it does not interfere materially with production from the MINING LOTS.

  • The first 200 kg of specimens may be removed by CASCABEL from the MINING LOTS annually at no cost to CASCABEL.

  • Otherwise, LAGARTOS may proceed to reduce or abandon the MINING LOTS.

  • The above notwithstanding, the parties hereby agree that the sole beneficiary of the rights and obligations over the MINING LOTS described herein, once the Option has been exercised, will be LAGARTOS and that the obligations assumed by MAG under this Agreement with respect to the acquisition of the MINING LOTS are exclusively being made in name and on behalf of LAGARTOS for its own benefit.

  • Upon the waiver of the Option and termination of this Agreement by LAGARTOS in such manner, CASCABEL will thereupon have the right to repossess the MINING LOTS, and LAGARTOS will have no further rights or obligations related to same except with respect to any environmental liabilities, including but not limited to environmental rehabilitation and restoration, stemming from its activities on the MINING LOTS subject to the provisions of Section 2.8.

Related to MINING LOTS

  • Mining Lease means the mining lease granted pursuant to Clause 12 and includes any renewal thereof and according to the requirements of the context shall describe the area of land demised as well as the instrument by which it is demised;

  • mining area means all those pieces of land containing two hundred and forty‑six (246) square miles or thereabouts situate in what is known to the parties as the “▇▇▇ ▇▇▇▇▇‑Siberia Nickel Laterite Area” the subject of the mineral claims applications for mineral claims and Temporary Reserves listed in the First Schedule hereto which are generally delineated and respectively coloured green and orange and red in the plan marked “X” signed by or on behalf of the parties for the purpose of identification;

  • Mining ▇▇▇ ▇▇▇▇ means (unless the context otherwise requires) the Mining ▇▇▇ ▇▇▇▇ and the amendments thereto and the regulations made thereunder as in force on 31st December, 1981;

  • Mining Property means a property used for mining operations as defined in the Mineral and Petroleum Resources Development Act, 2002 (Act No. 28 of 2002);

  • mining areas means the areas delineated and coloured red on the Plan marked “A” initialled by or on behalf of the parties hereto for the purposes of identification;