CO129-335 - Governor Nathan - 1906 [8-10] — Page 67

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"for the purpose of working mines and minerals" and annex

the customary Report by the Attorney General.

5.

I also transmit a copy of the Regulations

made on the 26th. July under the Ordinance.

6.

The 1st. and 5th. of these regulations and

:

the form of mining lease provide that only the metals or

minerals specified in licences and leases shall be pros-

pected for or worked. The conditions of the licences and

lease are such that it does not seem to me that any dis-

advantage would accrue to the Government or the public if

the licensee or lessee were allowed to prospect for or work

any minerals or metals that may exist within the areas over

which rights are granted I propose however for the pre-

sent to exclude from licences and leases permission to

prospect for or work gold, silver or precious stones.

7.

In the 13th. of the Regulations and in the

forms for Mining Licences and Leases it is laid down that

a royalty may be levied not exceeding 5 per cent. of the

estimated market value of the metal or mineral at the mines

when ready for smelting or reducing and as regards mining

leases it is provided that the rate at which royalties are

to be paid in each year shall be fixed annually by the

Governor-in-Council in respect of each species of metal or

mineral.