If the director offers tide and submerged lands containing known deposits of locatable minerals for lease, leases will be granted under the competitive bidding procedures of 11 AAC 82.400 - 11 AAC 82.475. Known deposits of locatable minerals are those determined by the director, after reviewing public information, to exist in sufficient quantity and quality to induce further development towards production of minerals for sale.

(Eff. 9/5/74, Register 51; am 5/30/85, Register 94)

Authority: AS 38.05.020, AS 38.05.145, AS 38.05.250