OAR 141-073-0118
Mineral Right Release or Sale Process
(1)
If the subject mineral right proposed for release or sale is owned by an agency other than the Department:(a)
The Department shall request a mineral resource consultant to conduct a preliminary evaluation of the mineral right. This evaluation will be the opinion of the mineral resource consultant regarding the actual or possible presence, extent and grade of, and demand for the mineral resources within the mineral right, and will be presented in writing to the Department.(b)
If no significant mineral or geothermal resources are believed by the mineral resource consultant to exist, the Department will submit the request to the Land Board for its consideration. If Land Board approval is granted, the Department will release the state-owned mineral rights to the agency/person applying for them.(2)
If the mineral resource consultant’s preliminary evaluation to the Department indicates that significant mineral and/or geothermal resources exist within the limits of the mineral right, and any revenue derived from the mineral right would:(a)
Not accrue to the Common School Fund, the agency submitting the request for release or sale of the mineral right shall, at their own cost, retain a mineral resource consultant to conduct an in-depth evaluation to determine a value for the mineral and geothermal resources.(b)
Accrue to the Common School Fund, the Department may either retain a mineral resource consultant to conduct an in-depth evaluation to determine a value for the mineral and geothermal resources, or advise the agency that it will not release the mineral right for sale or exchange.(3)
If the mineral resource consultant’s in-depth evaluation indicates the presence of significant mineral and/or geothermal resources within the limits of the mineral right, the Department may either:(a)
Advise the agency that it will reserve the mineral right, or(b)
After receipt of Land Board approval, sell the mineral right at a value based on either the mineral resource consultant’s in-depth evaluation plus any cost incurred by the Department to retain the consultant, or for a price negotiated by the Department.(4)
If the mineral consultant’s in-depth evaluation determines that no significant mineral and/or geothermal resources exist within the limits of the mineral right, the Department shall submit the request to the Land Board for its consideration. If Land Board approval is granted, the Department will release the state-owned mineral rights to the agency/person applying for them.(5)
As provided in OAR 141-073-0115 (Mineral Right Release, Sale and Exchange Application Process)(4), the Department may, at its discretion, use information provided by the agency requesting the release or sale of mineral rights instead of using/requiring a mineral resource consultant for some or all of the reports and evaluations required.
Source:
Rule 141-073-0118 — Mineral Right Release or Sale Process, https://secure.sos.state.or.us/oard/view.action?ruleNumber=141-073-0118.