Mineral right

nounStandard termMining

The legal ownership of the underground resources below a tract of land.

The legal authority to explore for, extract, and sell the minerals, oil, or gas found beneath the surface of a property. In many jurisdictions, these rights can be severed from the surface rights, meaning one party can own the land above while a mining or energy company owns the resources below.

Heard on the job

We negotiated a lease for the surface access, but the state still holds the mineral right for that parcel.