Production Mining definition
Examples of Production Mining in a sentence
Upon completion of the Preliminary Activities Phase, the Site shall be ready for the Production Mining Phase.
In order to be in a position to commence the Production Mining Phase in accordance with Owner's timetable, Contractor understands that the Preliminary Activities and the ordering or leasing of the Equipment necessary to begin Production Mining may need to be commenced prior to finalizing documentation of Owner's project financing for the Project.
In the event that this Agreement is terminated at any time for Owner's default pursuant to Section 17.5 or for Owner's convenience pursuant to Section 17.1 prior to the end of the fifth year of the Production Mining Phase, Contractor shall have the option, and is hereby granted such option, to require Owner to purchase or buy out the leases for all (but not less than all) Equipment provided by Contractor to perform the Work as of the date of such termination.
Contractor shall have a period of thirty (30) days in which to review and provide Owner with comments regarding the proposed Mine Production Schedule in connection with the preparation and delivery to Owner of the proposed Target Price for the applicable Contract Year pursuant to Section 4.3. Contractor shall, for each Contract Year, perform and complete Production Mining in accordance with the volume requirements set forth in each agreed upon Mine Production Schedule.
Exhibit D contains a complete list of the initial Equipment to be supplied for the Preliminary Activities Phase and the first Contract Year of Production Mining.
Prior to the commencement of the Production Mining Phase of the Work and prior to the beginning of each Contract Year thereafter, Owner shall provide Contractor a proposed schedule that sets forth production requirements for the relevant Contract Year for excavation and transportation of Ore and stripping and removal of Waste from the Pits and re-handling of Ore and Waste, as necessary (each, a "Mine Production Schedule"), pursuant to Section 2.7.