RE: GXS completes PPOriginally, The Coal Disposition Regulations 1988 referred to a one-year permit and two six-month extensions. This was amended in May 2009, with the one-year permit becoming a three-year permit.
Beyond the permit and its two extensions, a holder may keep his property for the long term by converting to a lease. A request to convert to lease shall be received before the expiry date of the permit or extension thereof, not within the 60 days following (different from the Mineral Regulations).
The maximum size of a lease is 800 hectares, which is consistent with the maximum size for a permit. The recording fee for a lease is $100.00 and the rent is $5.50 per hectare per year, payable in advance. The term of a lease is 15 years, renewable.
256 hectares (one square mile) x $5.50 x 15 years + $100 lease recording fee = $21,120.00