How did they get them in thefirst place???

mineral rights

2 Answers

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  • 1 decade ago
    Favorite Answer

    Mineral rights are purchased. They are either purchased as part of the real estate transaction (giving you all rights and privileges) or are sold separately to a mining company by the property owner.

    When you buy a piece of property, you usually have all the rights to it. If oil or gold or something else of value is discovered under your property, a big company might offer to buy the mineral rights to your property. They don't want to actually buy your farm, they just to want to have the right to remove all the valuable stuff from underneath it (and maybe destroy your farm in the process).

    A mineral right is a right to extract a mineral from the earth or to receive payment, in the form of royalty, for the extraction of minerals. “Mineral” may have different meanings depending on the context, and there is no universal definition.

    However, “mineral” generally includes:

    • Fossil fuels – oil, natural gas, and coal.

    • Metals and metal-bearing ores – such as gold, copper, and iron.

    • Non-metallic minerals and mine-able rock products - such as limestone, gypsum, building stones and

    salt.

    • May also include sand and gravel, peat, marl, etc.

  • Growl
    Lv 6
    1 decade ago

    They bought them from people who thought them worthless.

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