MN HF4435

Expands the State Executive Council's powers to include approval of rules for issuing leases to prospect for mineral commodities and nonfuel gases under state lands (in addition to existing minerals authority)

Allows state lessees holding iron ore or taconite mining leases to apply for negotiated leases to explore, mine, and remove mineral commodities or nonfuel gases found within their mining units

Permits the Commissioner of Natural Resources to issue leases for mineral commodities and nonfuel gases on state-owned lands, forfeited tax lands, and state water beds for up to 50 years

Requires Executive Council approval for all nonferrous metallic mineral or petroleum leases, and for any other mineral commodity or nonfuel gas lease covering 160 or more acres

Prohibits lease cancellation by the state for failure to meet production requirements prior to the 36th year of the lease term