43 CFR § 3581.4-2
Rate of royalty; investment determined
June 11, 2020
If the authorized officer finds the application sufficient to authorize the issuance of a lease, he/she shall establish a rate of royalty of not less than 5 percent or more than 121⁄2 percent of the value of the output of gold, silver or quicksilver at the mine and also shall establish the amount of investment required under the lease.