On July 1, 2012, changes to the Mineral Tenure Act
Regulation will come into effect in British Columbia.
The good news is that many of the current registration fees will
be eliminated including fees for registration of exploration and
development work, registration of payment of cash in lieu of work,
registration of portable assessment credits, amalgamations,
reduction of cell claims and transfer of ownership.
The number of cells per claim that can be selected will be
increased from 25 to 100 per acquisition. The fees, however, will
increase for registration of mineral claims from $.0.40 per hectare
to $1.75 and from $2.00 per hectare to $5.00 per hectare for placer
claims.
In addition, the new assessment requirements will increase from
the present $4.00 per hectare in each of the first three years and
$8.00 per hectare thereafter to $5.00 per hectare for years one and
two, $10.00 per hectare for years three and four, $15.00 per
hectare for years five and six and $28.00 per hectare for each
subsequent year.
The assessment work for placer claims will increase from $10.00
per hectare to $20.00 per hectare per year.
The result is that new assessment work being filed on claims
will create, in effect, new anniversary dates such that new
assessment filings will commence with the new process starting with
the first year in which the new assessment would apply. As an
example, if a claim is good until 2015 and new assessment work is
filed in 2012, the assessment work for 2016 and 2017 would be $5.00
per hectare commencing in 2016.
Payments by cash in lieu will double for each of the time
periods and the new minimum time frame for filing cash in lieu will
be six months rather than the current one day.
Mineral lease rentals will also increase from $10.00 per hectare
to $20.00 per hectare and placer lease rentals will increase from
$5.00 per hectare to $20.00 per hectare.
It will also be possible to subdivide claims consisting in two
or more cells. Any assessment work on such claims would be divided
among the number of cells.
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