3583.4-2 Royalties, rentals and minimum royalties.§ 3583.4-2 Royalties, rentals and minimum royalties.
Rentals and royalties shall be determined by the authorized officer on the basis of the fair market value, but in no event shall be less than:
(a) A rental of 50 cents per acre or fraction thereof payable in advance until production is obtained.
(b) A minimum royalty of $1 per acre or fraction thereof payable in advance after production is obtained.
(c) A production royalty of 2 percent of the amount or value of the minerals mined, the exact amount of royalty to be fixed prior to the issuance of the lease.