Arizona Mineral Lease to Mine Gold
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Description
A mineral lease is an agreement between a property owner and another party who is allowed to explore and extract minerals that are found on the property for a stated time. The property owner receives payments based on the lessee's net profits or the value of the minerals that are extracted. In other words, a mineral lease is a right given to use land for the purpose of exploration for a particular period of time or indefinitely upon payment of royalties to the landowner.
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