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Conference Proceedings

The AusIMM Proceedings 1957

Conference Proceedings

The AusIMM Proceedings 1957

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The Valuation of Mineral in the Ground with Particular Reference to Expropriation

State ownership of mineral in the ground is not newthe Regalian Right is an ancient concept. And the compulsory purchase of land and the minerals beneath it by the State or a body approved by the State (Fitzgerald, 1952) was a principle well established and enforced in practice over a hundred years ago, when such powers became a practical necessity during the period of railway building in Britain and elsewhere:The acquisition of mineral properties which stand in the way of public construction projects still goes on. But in recent years nationalization is being increasingly undertaken as part of the planned use of national resources, for the closer regulation of economic activities, or merely, so it would seem, as a matter of political expediency or national pride. For instance, the unsevered coal in Britain came under State ownership in 1938 in an attempt to simplify a complex pattern of freehold titles which were impedingplanned mining operations. Later, unsevered minerals became a factor in negotiations arising under various town and country planning acts. The acquisition of the Rio Tinto mines by the Spanish Government implies political aspirations. Or State purchase may even be accidental: it was the easiest course for the Sierra Leone Government consequential upon its failure to prevent widespread trespass over legally-held diamond privileges in 1955.This paper has been prompted by problems that have arisen when properties containing unsevered mineral have been expropriated by the Crown in New Zealand: expropriations, it is true, that have been on a small scale in rela...
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  • Published: 1956
  • PDF Size: 2.97 Mb.
  • Unique ID: P_PROC1957_0855

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