the MINING RIGHTS definition

the MINING RIGHTS means the Special Exclusive Prospecting Licence 2151 for rutile, ilmenite and zircon, which licence was originally issued on 20 March 1990 for a period of 2 (two) years and which has subsequently on application by the COMPANY been considered and recommended by the Mineral Advisory Board, Sierra Leone for conversion into a mining lease for 25 (twenty five years) in respect of the PROJECT;
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Examples of the MINING RIGHTS in a sentence

  • This agreement shall in all respects be governed by the laws of the Republic of South Africa, except insofar as it relates to the transfer of the MINING RIGHTS, which shall be governed by the applicable laws of Sierra Leone.

  • Both Giulianta and Giulianita 1 will be referred hereinafter as the MINING RIGHTS.

  • Both Parties will use all necessary efforts for obtaining the recording of the Option Agreement at the files of each of the MINING RIGHTS.

  • This Agreement constitutes the full agreement between the parties and it substitutes any other document, agreement, covenant or contract that the parties may have previously executed in connection with the MINING RIGHTS or with any concept linked thereto.

  • Pursuant to the provisions set forth in article 166 of the Single Revised Text of the General Mining Law, approved by means of Supreme Decree No. 014-92-EM, hereinafter the Mining Law, CEDIMIN hereby assigns MANHATTAN, and MANHATTAN accepts, its rights to explore the MINING RIGHTS mentioned in clause one, hereinafter referred to as the ASSIGNMENT.

  • With respect to the penalty for not meeting the annual minimum production or investment established in article 40 of the Single Text of the Mining Law approved by Supreme Decree N° 014-92-EM and its amendments, extensions, regulations and other connected thereto (Mining Law) the MINING RIGHTS have not been subject to such payment until year 2002.

  • LUMINA may also discount of the Postponed Price all the necessary amounts to cover the costs incurred on environmental expenses and defence of the MINING RIGHTS and THE TITLEHOLDERS.

  • The Transfer Price for the 100% of the MINING RIGHTS, including their constituents and accessories parts that are part of the Option, is US$2,000,000 (Two millions and 00/100 Dollars of the United States of America), amount that eventually could be increased proportionally to the increase of the Retraction Token as agreed in numeral 3.4.2 (via adjustment) or reduced as provided in numeral 3.4.3 (the “Transfer Price”).

  • The remainder of the Transfer Price will be paid at the time of the execution of the public deed of transfer of the MINING RIGHTS, making public knowledge of the transfer of the MINING RIGHTS to LUMINA.

  • For the purpose of this agreement all the surface rights that may eventually THE TITLEHOLDERS may have will be considered as accessory parts to the MINING RIGHTS.