N.M. Admin. Code § 19.2.6.15
Current through Register Vol. 35, No. 24, December 23, 2024
State coal leases shall provide for a royalty of twelve and one-half percent (12 1/2%) of the proceeds received from the sale of all surface-mined coal or, at the option of the commissioner, the market value of the surface-mined coal, and eight percent (8%) of the proceeds received from the sale of all underground-mined coal or, at the option of the commissioner, the market value of the underground-mined coal. The royalty rate may be reduced by the commissioner upon a showing that the leases for the non-state lands in the same logical mining unit provide for a lower rate or that the leased lands will be bypassed and not mined without a rate reduction.
N.M. Admin. Code § 19.2.6.15