Mining claim, or mineral claim, is a legal settlement from the U.S. government allowing an individual or a business organization to occupy, explore, and develop publicly owned minerals. Keeping in mind the nature of their business, miners may mine mineral that does not fall under public ownership.
Mining claims provide exclusive rights to miners in areas that have known mineral deposits, including gold, silver, coal, oil, and gas. It allows miners to explore, stake, and retain the minerals that are found on public given land and have exclusive rights to collect and utilize them in any legal capacity.
How Does a Mining Claim Work?
A mining claim is formulated by filing paperwork with the Bureau of Land Management (BLM) and obtaining a patent. The patent is the right of exclusive land use that is provided to the miner or mining company. The process for obtaining a patent involves purchasing public land and registering it with a local or federal agency.
Once the claim is approved, the miner or mining company can then start to identify mineral deposits and explore the land. If the miner or company successfully locates minerals, they can collect and sell them. Miners typically pay a royalty to the government based on the minerals they collect. The miner may also be required to submit environmental impact statements and obtain other permits.
Why Obtain a Mining Claim?
A mining claim ensures that a miner or mining company receives all of the benefits associated with the discovery of minerals. Obtaining a claim reduces liability when it comes to conflicts with other miners on the same land, and it ensures that miners are not at risk of being sued. Additionally, obtaining a claim brings stability to the mining industry and helps ensure that miners receive all of the necessary legal documents needed to conduct business.
In modern times, a mining claim can be beneficial for businesses and individuals alike. With a legal document in hand, miners can be protected from potential legal battles and can ensure that they receive all of the rights associated with the discovery of minerals.