I just recently have been contacted about being an heir to some mineral rights from a deceased relative. I've been told this is in Montana. The company has an interest in leasing. They specialize in bentonite mining. Any experiences/guidance is much appreciated. Thank you.
Mining leases are an entirely different ball game from oil and gas leases. Mining leads are longer term, lower royalty % but can be higher income in dollars. Commitments to explore and exploration information are very important to the lessor as are royalty structure in the event the property is put into inventory. Bentonite is usually found in sedimentary formations so you must be certain you are not actually leasing your oil and gas rights as well. The larger your acreage, the more important it is to do the lease right. You may only get one chance.
If I may ask, which county? We had production in Phillips County in the late 70's and 80's.
Did not get a response from you on location? I will fill you in on the local picture. Bentonite was mined in Phillips County in 70's and 80's and we had a processing plant which has since been demolished due to high property taxes. We still have lots of acres of Bentonite that could be mined. There was a few new leases in 2012, but no activity. Over in the Valley County to our east, their was talk of leasing and shipping out bentonite by rail, have heard nothing since 2012 on that either. We also shipped the processed bentonite out by rail and truck. You can make me your friend if you don't want the world to know, then I can tell you where and who in Phillips County, MT.(one on one)