Mineral Resources Development

NMSA 1978 ch. 69, art. 10

in effect

NMSA 1978, § 69-10-1 Short title

69-10-1. Short title This act [69-10-1 to 69-10-4 NMSA 1978] may be cited as the "Mineral Resources Development Act." 1953 Comp., § 63-33-1, enacted by Laws 1967, ch. 254, § 1.

NMSA 1978, § 69-10-2 Public policy

69-10-2. Public policy The legislature finds and declares that: A. the exploitation of New Mexico's mineral resources provides an opportunity for highly paid jobs for New Mexicans; B. the successful exploitation of minerals shall be encouraged by the state of New Mexico; C. New Mexico has been very successful in the past in exploiting minerals with visual observational methods applied to the surface of the ground; and D. New Mexico has now reached the stage where future exploitation of minerals must proceed on the basis of the intensive application of modern technology. The immediate need is for the assembly of known data on mineral resources by mineral resource economists in order to make it possible to point to the areas offering the highest probability of successful exploitation of these resources. 1953 Comp., § 63-33-2, enacted by Laws 1967, ch. 254, § 2.

NMSA 1978, § 69-10-3 Technological studies; economist

69-10-3. Technological studies; economist New Mexico institute of mining and technology is directed to use its mineral resource economist to undertake studies aimed at developing technology which will make possible the profitable exploitation of New Mexico's mineral resources. This effort should be aimed initially at those minerals development opportunities which offer the best hope of successful exploitation and the creation of the greatest number of jobs. When a profit opportunity has been developed, the mineral resource economist shall make this information available to the secretary of the economic development department. 1953 Comp., § 63-33-3, enacted by Laws 1967, ch. 254, § 3; 1977, ch. 247, § 168; 1983, ch. 296, § 26; 1991, ch. 21, § 41.

NMSA 1978, § 69-10-4 Development

69-10-4. Development It shall be the responsibility of the department of development [economic development division] to locate suitable private enterprises and interest them in the development of the profit opportunity uncovered by the minerals [mineral] resource economist. 1953 Comp., § 63-33-4, enacted by Laws 1967, ch. 254, § 5.

Source: New Mexico Compilation Commission (nmonesource.com)URL: https://nmonesource.com/nmos/nmsa-unanno/en/item/18572/index.doFetched: 10/20/2026