The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
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This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
27-233 - Preferred right to renew mineral lease; evaluation of geologic and economic evidence
27-233. Preferred right to renew mineral lease; evaluation of geologic and economic evidence
A. Upon application to the state land commissioner, not less than thirty nor more than sixty days prior to the expiration of the lease, if the lessee of mineral lands is not delinquent in the payment of rental or royalty on the date of expiration of the lease, the lessee shall have a preferred right to renew the lease bearing even date with the expiration of the old lease for a term of twenty years. The commissioner may deny the renewal application for any reason listed in section 27-251, subsection B, paragraphs 1 through 5.
B. In determining whether the proposed mining activities would be in the best interest of the trust pursuant to section 27-251, subsection B, paragraph 2, the commissioner may require the lessee to provide geologic and economic evidence showing at least probable or indicated mineral resources, as that evidence is conventionally interpreted in the mineral industry. Evidence provided to the state land department under this subsection is a trade secret of the mineral industry and is confidential pursuant to section 27-274.