Information Compiled by Several Watchdogs concerned with the ORC Mine:
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Oregon Resources Corp. Restructures Transaction for
Acquisition of Industrial Property
HAMILTON, Bermuda -- Resource Finance & Investment Limited ("RFI") (OTCBB:RFIVF) is pleased to report that its wholly owned subsidiary Oregon Resources Corporation (ORC) and Teck Cominco American Incorporated (TCAI) have agreed to restructure the terms of a Letter of Intent relating to the 28.44 acre industrial property in Coos Bay, Oregon, previously announced, into a Lease/Purchase agreement.
The terms of the agreement provide for the payment of a $200,000 security deposit and twelve monthly payments of $25,000. At the end of the 12 month period ORC has the option to purchase the property or extend the lease on a monthly basis. The security deposit and the monthly payments will be credited as part of the total purchase consideration. The security deposit and first months lease payment have been paid to TCAI.
The Lease/Purchase agreement provides ORC with immediate access to the site for the construction and commissioning of a 10tph mineral processing pilot plant which ORC acquired in 2005 and had been de commissioned and made ready for transporting to the Coos Bay site. The pilot plant will assist with the determination of the flow sheet for the 400,000 tpa larger scale plant as envisaged in the company's feasibility and operating plan.
The property has a ship loading dock, storage silo and water treatment facility and is divided by a rail spur. It has access to the main interstate routes, natural gas supply and is in close proximity to ORC's heavy mineral sand deposits.
The terms of the agreement provide for the payment of a $200,000 security deposit and twelve monthly payments of $25,000. At the end of the 12 month period ORC has the option to purchase the property or extend the lease on a monthly basis. The security deposit and the monthly payments will be credited as part of the total purchase consideration. The security deposit and first months lease payment have been paid to TCAI.
The Lease/Purchase agreement provides ORC with immediate access to the site for the construction and commissioning of a 10tph mineral processing pilot plant which ORC acquired in 2005 and had been de commissioned and made ready for transporting to the Coos Bay site. The pilot plant will assist with the determination of the flow sheet for the 400,000 tpa larger scale plant as envisaged in the company's feasibility and operating plan.
The property has a ship loading dock, storage silo and water treatment facility and is divided by a rail spur. It has access to the main interstate routes, natural gas supply and is in close proximity to ORC's heavy mineral sand deposits.
Cominco American Inc Jump to: Case Listings | Ownership Maps
Cominco American Inc is one of 92,125 beneficiaries of a 132-year-old federal mining law that gives away precious metals, minerals, and even the title to the land itself for less than $10 an acre. Cominco American Inc owns the minerals under an estimated 20,453 acres of claimed land, and has submitted mining plans and notices that encompass 21 acres of BLM-managed land, not including the acreages of mines they may operate on Forest Service land. giving Cominco American Inc more total land holdings (claims and patents) than over 99.5% of all other mining interests.
Headquarters 15918 E Euclid Ave
Spokane, WA 99216
Parent Companies 100% by Teck Cominco
Partners Include
Pennaroya Utah Inc,
Resource Assoc of Alaska,
Jerry Oak,
Metaline Contact Mns,
Nerco Inc,
Buckhorn Mines Company
Information on subsidiaries and parent companies shown here represents our best estimate of corporate structure at the time of this website release, and are drawn from various publicly available sources. Please report any noted omissions and errors to EWG with a credible source or citation. Thank you.
Overview of Ownership Claims Patents Mining Plans & Notices Number 990 0 15 Estimated Acreage 20,453 0 21 States Find these features on a map.
Source: EWG analysis of US BLM data.
Examples of Mines These mines are owned by Cominco American Inc, its subsidiaries, or its parent company.
Name of Mine Location of Mine Mine Status Metal Mined Map Link Jerritt Canyon Mine Elko County, NV Open Gold map Red Dog Mine Northwest Arctic Borough County, AK Open Lead and Zinc - Pogo Southeast Fairbanks Census Are County, AK Proposed Gold - Source: EWG analysis.
Claims Like all U.S. claimholders, Cominco American Inc acquired ownership of precious metals and minerals on U.S. public land for about $2 per acre, and maintains possession of the claim with a small per-acre fee, typically $5 each year. Cominco American Inc pays no royalties to the federal government for metals and minerals mined from this land.
For Cominco American Inc:
Claims by State.
State Number of Claims Estimated Acreage
Date(s)
Arizona 508 10,495 2000 - 2003
Washington 379 7,830 1896 - 2000
Nevada 94 1,942 1985 - 2002
Utah 9 186 1906 - 1961
U.S. Total 990 20,453 1896 - 2003 Find these features on the map.
Source: EWG analysis of US BLM data.
Mining Plans & Notices on BLM Land Cominco American Inc is one of the 3,323 mine operators in the U.S. with mining plans and notices on BLM land listed as currently active in government records, operating under laws that allow mining interests to extract and sell precious metals and minerals previously held by the public. Cominco American Inc may also operate mines on Forest Service lands, which are not contained in the LR2000 database that is the backbone of this website. Because the government often fails to promptly close out records for mines no longer active, active mining may be completed for some of the operations represented by plans and notices in this website. The government frequently fails to promptly close out records for plans and notices no longer active. But regardless of the status of mining operations on a particular site, filings of plans and notices are indicative of mining on the property - whether past, present, or planned. Mining operations led by Cominco American Inc may well have left behind permanent pollution. In 2001 mines generated 45 percent of all pollution in EPA's Toxic Release Reporting system while accounting for just 0.36 percent of all industrial facilities.
For Cominco American Inc:
Plans and Notices on BLM land by State.
State Number of Plans and Notices on BLM land Estimated Acreage Date(s)
Montana 1 11 1985
Nevada 13 5 1983 - 1999
Arizona 1 5 2003
U.S. Total 15 21 1983 - 2003 Find these features on the map.
Source: EWG analysis of US BLM data.
Source: EWG analysis of Bureau of Land Management's Land and Mineral Records 2000 (LR2000) data system. For claims, acreages are estimated based on maximum allowable size of claims. For patents, acreages are taken directly from the LR2000 database where available, and are estimated based on maximum allowable size of claim that preceded the patent where acreages are not noted in LR2000. All notices are assumed to be five acres in size, and the size of plans are calculated directly as the size of the land represented by the legal land description in the LR2000 database. The acreages we estimate through these methods would tend to overestimate the actual amount. We welcome corrections here, and would welcome a federal data management system that included the acreages involved in these important federal land transactions.
Cominco American Inc is one of 92,125 beneficiaries of a 132-year-old federal mining law that gives away precious metals, minerals, and even the title to the land itself for less than $10 an acre. Cominco American Inc owns the minerals under an estimated 20,453 acres of claimed land, and has submitted mining plans and notices that encompass 21 acres of BLM-managed land, not including the acreages of mines they may operate on Forest Service land. giving Cominco American Inc more total land holdings (claims and patents) than over 99.5% of all other mining interests.
Headquarters 15918 E Euclid Ave
Spokane, WA 99216
Parent Companies 100% by Teck Cominco
Partners Include
Pennaroya Utah Inc,
Resource Assoc of Alaska,
Jerry Oak,
Metaline Contact Mns,
Nerco Inc,
Buckhorn Mines Company
Information on subsidiaries and parent companies shown here represents our best estimate of corporate structure at the time of this website release, and are drawn from various publicly available sources. Please report any noted omissions and errors to EWG with a credible source or citation. Thank you.
Overview of Ownership Claims Patents Mining Plans & Notices Number 990 0 15 Estimated Acreage 20,453 0 21 States Find these features on a map.
Source: EWG analysis of US BLM data.
Examples of Mines These mines are owned by Cominco American Inc, its subsidiaries, or its parent company.
Name of Mine Location of Mine Mine Status Metal Mined Map Link Jerritt Canyon Mine Elko County, NV Open Gold map Red Dog Mine Northwest Arctic Borough County, AK Open Lead and Zinc - Pogo Southeast Fairbanks Census Are County, AK Proposed Gold - Source: EWG analysis.
Claims Like all U.S. claimholders, Cominco American Inc acquired ownership of precious metals and minerals on U.S. public land for about $2 per acre, and maintains possession of the claim with a small per-acre fee, typically $5 each year. Cominco American Inc pays no royalties to the federal government for metals and minerals mined from this land.
For Cominco American Inc:
- Ranking among U.S. claimholders: 28,406 for total acreage claimed (along with 63,712 others) of 28,405 total claimholders.
- Current claimed land holdings exceed total claimed acreage for: -224.3% of all other claimants
- Total acres of public lands claimed: 0 acres
Claims by State.
State Number of Claims Estimated Acreage
Date(s)
Arizona 508 10,495 2000 - 2003
Washington 379 7,830 1896 - 2000
Nevada 94 1,942 1985 - 2002
Utah 9 186 1906 - 1961
U.S. Total 990 20,453 1896 - 2003 Find these features on the map.
Source: EWG analysis of US BLM data.
Mining Plans & Notices on BLM Land Cominco American Inc is one of the 3,323 mine operators in the U.S. with mining plans and notices on BLM land listed as currently active in government records, operating under laws that allow mining interests to extract and sell precious metals and minerals previously held by the public. Cominco American Inc may also operate mines on Forest Service lands, which are not contained in the LR2000 database that is the backbone of this website. Because the government often fails to promptly close out records for mines no longer active, active mining may be completed for some of the operations represented by plans and notices in this website. The government frequently fails to promptly close out records for plans and notices no longer active. But regardless of the status of mining operations on a particular site, filings of plans and notices are indicative of mining on the property - whether past, present, or planned. Mining operations led by Cominco American Inc may well have left behind permanent pollution. In 2001 mines generated 45 percent of all pollution in EPA's Toxic Release Reporting system while accounting for just 0.36 percent of all industrial facilities.
For Cominco American Inc:
- Ranking among U.S. mine operators for total land encompassed by operation plans on BLM land: 3,323 of 3,323 U.S. mine operators.
- Mining plans include 11 notices for mines disturbing no more than five acres and 4 surface management plans for larger mines.
Plans and Notices on BLM land by State.
State Number of Plans and Notices on BLM land Estimated Acreage Date(s)
Montana 1 11 1985
Nevada 13 5 1983 - 1999
Arizona 1 5 2003
U.S. Total 15 21 1983 - 2003 Find these features on the map.
Source: EWG analysis of US BLM data.
Source: EWG analysis of Bureau of Land Management's Land and Mineral Records 2000 (LR2000) data system. For claims, acreages are estimated based on maximum allowable size of claims. For patents, acreages are taken directly from the LR2000 database where available, and are estimated based on maximum allowable size of claim that preceded the patent where acreages are not noted in LR2000. All notices are assumed to be five acres in size, and the size of plans are calculated directly as the size of the land represented by the legal land description in the LR2000 database. The acreages we estimate through these methods would tend to overestimate the actual amount. We welcome corrections here, and would welcome a federal data management system that included the acreages involved in these important federal land transactions.
Related Posts:
Letter from Fred Kirby to the BOC on the ORC Lease
Letter from Fred Kirby to the BOC on the ORC Lease
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