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.
Statutory/Other Authority
ORS 273
Statutes/Other Implemented
ORS 273.780 - 273.790
History
LB 44, f. & ef. 8-16-77