Vietnam or Thailand ? Vote for the TOP Country of the Week !
Updated: May 11, 2025
Coming back to the royalty-owner, you will see his functions are not very onerous. He signs receipts for his royalties and occasionally negotiates the terms of a lease. But as regards the coal-mining industry, he "toils not, neither does he spin." But as regards this industry he performs no essential function beyond allowing the colliery-owners to mine his coal.
Thereupon he is called the mineral-owner or royalty-owner, and the persons or company who actually engage in the business or industry of coal mining and pay him the royalties we shall call the colliery-owners. Do not be misled by the confusing term "coal-owners." Very frequently the colliery-owners are called the "coal-owners," and their associations "coal-owners' associations."
We can arrive at an approximate estimate in this way: Average output of coal for five years before the war, roughly, 270,000,000 tons; average royalty, 51/2d. per ton, which means, after deducting coal for colliery consumption and the mineral rights duty paid to the State by the royalty-owner, roughly £5,500,000 per annum paid in coal royalties.
I see no reason to doubt that in the vast majority of cases the present lessees would be prepared to continue to operate their mines, paying royalties to the State instead of to the present royalty-owner.
That is quite a misnomer. The real coal-owner is the landowner, the royalty-owner, though it may well happen that the two functions of owning the minerals and mining them may be combined in the same person.
Word Of The Day
Others Looking