- A royalty under a kind of lease recognized by the coal industry paid on the quantity of mineral mined, with the requirement that a stipulated amount be mined within a stated period of time, or, upon a failure to do so, to pay a certain amount of money equal to the income that would have been received by the landowner had the mineral been mined. Such payments are royalties and are not to be considered as rentals. Logan Coal & Timber Asso. v Helvering (CA3) 122 F2d 848. See mining royalty.
Ballentine's law dictionary. Anderson, W.S.. 1998.
Look at other dictionaries:
mineral — 1. adj Relating to minerals or the process and business of mining; bearing or producing valuable minerals 2. noun Any valuable inert or lifeless substance formed or deposited in its present position through natural agencies alone, and which is… … Black's law dictionary
royalty — roy·al·ty n pl ties 1: a right delegated (as to an individual or corporation) by a sovereign 2 a: a share of the profit or product reserved by the grantor esp. of an oil or mineral lease compare overriding royalty b: a payment made to an author… … Law dictionary
Royalty rate assessment — is a practical tool to gauge the impact of a royalty commitment in a technology contract to the business interests of the contracting parties. In this coverage, the terms royalty , royalty rate and royalties are used interchangeably.A firm with… … Wikipedia
mineral right — min·er·al right n: the right or title to all or specified minerals in a given tract: the right to explore for and extract such minerals or to receive a royalty for them Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. mineral right … Law dictionary
mineral rights — n. The right to take minerals out of a particular piece of land. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008. mineral rights An ownership interest in … Law dictionary
Mineral rights — Contents 1 Mineral estate 2 Mineral rights can be severed 3 Five elements of mineral rights 4 Freehold and non freehold ownership … Wikipedia
Royalty trust — A royalty trust is a type of corporation, mostly in the United States or Canada, usually involved in oil and gas production or mining. However, unlike most corporations, its profits are not taxed at the corporate level provided a certain high… … Wikipedia
Mineral industry of Namibia — Diamond remained the most economically significant mineral commodity produced by the mining industry of Namibia.Philip M. Mobbs. [http://minerals.usgs.gov/minerals/pubs/country/2006/myb3 2006 wa.pdf The Mineral Industry of Namibia ] . 2006… … Wikipedia
royalty — /roy euhl tee/, n., pl. royalties. 1. royal persons collectively. 2. royal status, dignity, or power; sovereignty: to be elevated to royalty. 3. a person of royal lineage; member of a royal family. 4. royalties, Archaic. prerogatives, rights, or… … Universalium
Mineral industry of Africa — The mineral industry of Africa is one of the largest mineral industries in the world. Africa is the second biggest continent, with 30 million km² of land, which implies large quantities of resources. For many African countries, mineral… … Wikipedia