Commentary

40 Options and conditional contracts to buy or lease minerals

MINES, MINERALS AND LANDFILL vol 26(3)
| Commentary

40 Options and conditional contracts to buy or lease minerals

| Commentary

40 Options and conditional contracts to buy or lease minerals

The option has become the pre-eminent document in terms of negotiating the commercial exploitation of minerals, and has a more enhanced status than the option documents used in other commercial transactions. The precedents in this title assume that at the stage of execution of an option the terms for the subsequent exploitation are agreed. Thus it is normal to annex a full draft of the lease that is to be granted in the event that the option is exercised, and detailed provisions are incorporated to establish any opening rentals or

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