Or. Admin. Code § 141-071-0410

Current through Register Vol. 63, No. 12, December 1, 2024

Section 141-071-0410 - State Land Board Policy

In order to more fully manage the mineral rights in property owned by any state agency as directed by ORS 273 .780, the State Land Board adopts the following program policies:

(1) The Division's program should provide for environmental protection on a parcel-by-parcel basis, protect the long-term use of surface rights, and obtain an equitable return to the proper state fund.

(2) Mining production leases shall be issued on the following terms: $1 per acre per year; royalty rate of 5 percent for most metallic minerals; escalating development expense from $1 per acre per year to $3 per acre after the third year; and ten year primary term on leases covering a maximum of 640 acres.

(3) Competitive bidding should be utilized to obtain the highest available return from discovered mineral occurrences.

(4) Lease applications which include assay valuations in excess of $100,000 shall be subject to final approval by the State Land Board.

Or. Admin. Code § 141-071-0410

LB 44, f. & ef. 8-16-77

Stat. Auth.: ORS 273

Stats. Implemented: ORS 273 .780 - ORS 273 .790