Does anyone know exactly what a mining tenement is, and how it coulkd potentially affect the land it is on?
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We looked at a couple of properties in the Ipswich area which had mining thingy? on them (cant recall what they were actually called).
Agent told us 3 contracts had fallen through because of this even though tthe rights dated back to late 1800's – early 1900s. Apparently this is common in the Ipswich area. We didnt go with that property as it was also subject to flooding. We were looking in early July & it has only recently been listed as under contract on re.com in the last week or so – everything else around has sold awhile ago so I guess that also tells a story?
According to the agent the mining right can be removed from the title but it costs a couple of $k.Cheers
StellaThanks for the reply Stella. I rang the DSE here in ictoria and they said the tenement has been in place for over 20 years and covers most of the town.It is for underground mining,and as they are around 500m down, I am not concerned at all.
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