| A variety of minerals can be found under the | | | | agreement between the owner and the mining |
| earth’s surface. They include fossil fuels like oil, | | | | company involves the owner keeping the possession |
| natural gas, and coal, metals and metal bearing ores | | | | of the land whereas the mining company acquiring |
| like gold, copper and iron, non-metallic minerals and | | | | the rights to the subsurface. This transaction |
| mineable rock products such as limestone, gypsum, | | | | generally involves all mineral commodities either |
| building stones and salt. They may also include sand, | | | | known or unknown that exist beneath the land or in |
| gravel, peat, marl, etc. | | | | other cases one party may limit the transaction to a |
| A mineral right is a right to extract a mineral from the | | | | specific mineral commodity. |
| earth or to receive royalty for letting the mining | | | | A mineral right falls under property rights and may be |
| company extract minerals. | | | | sold, transferred, or leased in a similar manner as |
| Depending on the jurisdiction in the United States | | | | other property rights. They are distinct from surface |
| that supports Mineral rights, land rights may be | | | | rights or the right to the use of the surface of the |
| separated from mineral, mining, oil or drilling rights | | | | land for residential, agricultural, recreational, |
| which are rights to remove minerals, oil, or even | | | | commercial, or other purposes and may be sold or |
| water that may be contained in and under land. The | | | | retained separately from the surface rights, in which |
| owner may choose to sell the underground minerals | | | | case the mineral rights are said to be |
| but may desire to retain the possession and control | | | | “severed.” |
| of the surface. This works out for the mining | | | | Unless severed interest is sold, leased, mortgaged, or |
| company since they don’t want to pay to | | | | transferred by recorded instrument within the |
| acquire the property but are only interested in the | | | | 20-year period, severed oil or gas rights revert to |
| minerals underneath that property. A typical | | | | the surface owner after twenty years. |
