Mine Development And Production Agreement Format In Clark
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An agreement commonly entered into in both the mining and the oil and gas context. Under an offtake agreement, a buyer (the off-taker) agrees to buy all or a substantial portion of a resource producer's future output (for example, minerals) from the seller's project.
Contract mining is when the owners of a mine employ the services of specialist contractors to conduct the various mining operations such as drilling, blast- ing, equipment maintenance, processing opera- tions, scheduling and budgeting where there is a legal agreement between the two parties that is enforceable by law.
A mining claim is a parcel of land for which the claimant has asserted a right of possession and the right to develop and extract a discovered, valuable, mineral deposit.
Contract Duration: Mining contracts can last anything from a few months to several years. Longer contracts may offer better value, but they also lock you up for a longer length of time.
