Mining Lands Overview
- We own 14 properties comprising approximately 15,000 acres currently under lease for mining rents or royalties (not including the Brooksville property - 4,280 acres).
- Other than one location in VA, all of these properties are located in Florida and Georgia. Based on history, we believe strongly in the future construction growth potential of these two States which directly benefits our potential for increased mining royalties. Additionally, these locations provide us with excellent opportunities for valuable "2nd lives" for these assets as "planned unit development" communities.
- Our current mining tenants include Vulcan Materials, Martin Marietta and Cemex, among others.
- Mining royalties are collected on lands where mineable reserves exist. These royalties are based on the greater of (i) a fixed annual minimum royalty charge, or (ii) the volume of tons sold off our lands in a given year multiplied by a percentage of the average annual sales price at which the tons were sold.
- Mining rents are collected on lands where the reserves have been depleted, but the land still has operational value to the mine operator (e.g., their plant is on our property).
- We experience no additional costs with increased volumes or prices in this business so additional revenue drops straight to our bottom line.
- Our total estimated reserves are 415,440,756 tons as of September 30, 2016.
Total Acres - 14,772