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1904. NEW ZEALAND.

DRAFT MINERAL LEASE AT PARAPARA (COPY OF), CONSENTED TO BY THE HON. THE MINISTER OF MINES IN TERMS OF SECTION TWO OF "THE MINING ACT AMENDMENT ACT, 1902."

Laid on the Table of the House of Representatives by Leave.

Lease. Puksuant to " The Mining Act Amendment Act, 1902," and " The Mining Act, 1898," and all other powers me thereunto enabling, I, the undersigned Wilson Heaps, Esq., Warden of the Karamea Mining District, do hereby grant to Sir Alfred Cadman, K.G.M.G., of Auckland, settler, his executors, administrators, and assigns (hereinafter, with his executors, administrators, and assigns, called " the lessee ") this mineral lease, authorising the lessee to occupy the parcel of Crown land situated in the said mining district, containing by admeasurement 920 acres, more or less, as the same is delineated in the schedule hereto (hereinafter called " the demised land ") for the purpose of mining for iron-ore (otherwise known as " haematite ") upon the terms and conditions following, that is to say : — 1. The sum of one thousand pounds (£1,000), already deposited by the lessee with the Public Trustee in connection with the application for this lease, shall be held by him as security for the lessee's due compliance with the terms of this lease, and such sum of one thousand pounds (£1,000) shall be absolutely forfeited to His Majesty the King, if the lessee does not expend the sum of one thousand pounds (£1,000) during the first year of the term hereby granted, as provided by clause ten hereof ; but the lessee, if he duly comply with the terms hereof, shall be entitled on application to the Public Trustee to a return of the same (without interest) by instalments of not less than two hundred and fifty pounds (£250), each instalment being payable only on the certificate of an Inspector of Mines that since payment of the previous instalment (if any) the lessee has expended during the second year of the said term, in work or material on the demised land, not less than twice the amount of the instalment applied for. 2. This lease is granted for a term of forty-two (42) years (hereinafter called " the said term ") commencing on the date hereof: Provided always that the lessee shall have such right of renewal as is provided for in section 138 of " The Mining Act, 1898." 3. Without in any way limiting or affecting any other rights or powers of the Crown or the Warden, there is hereby reserved to His Majesty and his successors the full and free right from time to time, and at any time during the said term, to lay off, construct, and maintain roads, railways, and tramways on, through, or over any part of the demised land, and to appropriate and fence off, or otherwise demark such portion of the demised land as is required for the purposes of such roads, railways, and tramways : Provided that the rights hereby reserved shall be so exercised as not to interfere with the lessee's mining operations or works on the demised land : And, as often as any question arises as to whether any specified exercise or proposed exercise of such rights does, or may, so interfere, the question shall be referred to the Warden, whose decision shall be final, subject, however, to the same right of appeal as is provided by " The Mining Act, 1898," and its amendments in the case of proceedings before the Warden or the Warden's Court. 4. The rent payable by the lessee during the said term shall be the yearly rent of one hundred and fifteen pounds (£115), being at the rate of two shillings and sixpence (2s. 6d.) for every acre or fraction of an acre of the demised land; all payments in respect thereof, having been duly made up to the thirtieth day of June, one thousand nine hundred and four, and the subsequent payments be made by equal half-yearly instalments of fifty-seven pounds ten shillings (£57 10s.) in advance, computed from the said thirtieth day of June, one thousand nine hundred and four. 5. The lessee shall pay a royalty of one twenty-fifth of the value at the pit's mouth of all iron-ore raised pursuant to this lease. 6. For the purpose of estimating the amount of royalty payable hereunder, the value of the iron-ore so raised shall be deemed to be six shillings and threepence (6s. 3d.) per ton at the pit's mouth.