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The State will ensure that:

(a) The Company will be subject to the real property taxes that are generally in effect only on a non-discriminatory basis; and
(b) Real property held by the Company will be valued without taking into account Minerals or improvements on or under the land.

Example 1
The Company shall be exempt from real property tax as provided by Applicable Law including real property used for Production provided further that the Company shall be exempt from real property tax on residences or improvement thereon where such residences are primarily utilized by employees.

Example 2
Rating
28. The State shall ensure that notwithstanding the provisions of any Act or anything done or purported to be done under any Act the valuation of all lands the subject of this Agreement (except the accommodation area and any other parts of the lands the subject of this Agreement which accommodation units or housing for the Company’s workforce is erected or which is occupied in connection with such accommodation units or housing and except as to any part upon which there stands any improvements that are used in connection with a commercial undertaking not directly related to the mining activities carried out by the Company pursuant to approved proposals) shall for rating purposes under Applicable Law, be deemed to be on the unimproved value thereof and no such lands shall be subject to any discriminatory rate.

REFER TO MMDA DISCLAIMERS AND MMDA USER’S GUIDE
PRIOR TO ANY USE OF THIS DOCUMENT.

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