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FINANCIAL

3.0 Annual Rental

[NOTE: Annual Rental payments are generally used to discourage speculative holding of land without exploration or development or to compensate for surface use. The amount is not typically a major component of fiscal revenue for the State The amount of such payments are often provided by legislation or regulation, and may be payable to land owners or occupiers or Local Governments rather than the State.]

The Company shall pay to the State an annual rental fee of $__________ per hectare of land included in the Mining Area [in accordance with Applicable Law]. Such payments shall be adjusted in accordance with [choose appropriate indicator]. Such rental payments shall be deductible expenses for income taxation purposes under Section 7.2.

REFER TO MMDA DISCLAIMERS AND MMDA USER’S GUIDE
PRIOR TO ANY USE OF THIS DOCUMENT.

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