§ 6801 Eligibility For Leases
This law says only certain people and companies can get a mining lease or permit – mainly U.S. citizens, people who plan to become citizens, foreigners from countries that treat U.S. citizens the same, U.S. corporations or ones mostly owned by eligible people, and anyone covered by a treaty. If several groups bid together, they must list everyone.
A mining company called Rocky Minerals, Inc. wants a prospecting permit. Rocky Minerals is a U.S. corporation and 95% of its shares are owned by U.S. citizens, so it can get the permit. If a foreign company owned only 80% by U.S. citizens tried to apply, it would be denied.
Because Rocky Minerals meets the rule that a corporation must be organized under U.S. law or have at least 90% of its shares owned by people who can hold a lease, the law lets it get the permit. The foreign company doesn’t meet the 90% ownership rule, so it can’t.
AI-generated — May contain errors. Not legal advice. Always verify source.
§ 6801 Eligibility For Leases
Last verified: January 11, 2026