The legal complexity of mining royalties is unraveled in a new book, Mining Royalties Between Private Parties, published by the Centre for Resource Studies at Queen’s University.
Author Karl J.C. Harries, a lawyer and retired mining engineer, discusses various aspects of mining royalties in a clear and informal manner that will appeal to a broad spectrum of industry professionals.
Royalty agreements are a crucial component of most mining deals as they facilitate the transfer of property rights and ultimately the development of mineral deposits.
Harries includes more than 125 examples of royalty provisions from actual agreements, and provides considerable commentary, both positive and negative, on these examples. Various types of royalties are defined, and their legal implications explained. Many of the examples will prove instructive for negotiators who are in the position of having to prepare such agreements.
In addition to the examples, Harries analyzes various aspects of mining royalties, including: the formation and execution of agreements; the formatting of royalty provisions; the payer-recipient relationship; the use of professional advisers; and marketability of royalties. In one section, he offers suggestions on how a royalty might be made an interest in property, rather than just a contractual right.
The book consists of six chapters, the last of which considers provisions found in both royalty and general agreements. Also included are an index, a glossary and a check-list for negotiations.
The 459-page study is a useful companion to Mining Exploration Agreements, by the same author.
Copies are available for $70 each (excluding GST) from the Centre for Resource Studies, Queen’s University, Kingston, Ont., K7L 3N6.
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