480 ACRES GREEN MT / 8M TONS TALC PROVEN CORE BORINGS ZONED FOR MINING, MINERALS, AND FORESTRY DATED TO 1754 Start Price USD 795,500.00 Current Price USD 795,500.00 Time Left - Bid Count 0 Buy It Now Price - Reserve Price - Start Time Saturday, August 02, 2008 End Time Monday, September 01, 2008 Location Chester, Vermont See more about '480 ACRES GREEN MT / 8M TONS TALC PROVEN CORE BORINGS ' Description This property is called "Gleb Land" or "Lease Land", meaning Mr. Galkin possesses a Leasehold interest in the Property. Currently, there are two allowed uses in this district, which are: A) Quarring Mining and Mineral Processing, and B) Agricultural and Forest Uses. The town of Chester has been presented with a plan to re-zone this property for Residential use, but a decision has not been forth coming. However, the Town has a Fiduciary Responsibility to the Citizens of Chester, Vermont. That is to use monies gained from the Lease-land for the sole benefit of the township. An argument could be made that refusing to re-zone this property for Residential or Mixed Residential use, and thereby gain an increase in tax dollars is not keeping within their fiduciary responsibility. The property has had borings completed at various locations, which resulted in proving 8M tons of Talc Minerals redily available for mining. The report further estimates that as much as 20 M tons are available for processing. The Galkin property was once leased with an option, held as reserve to Luzinac, now owned by Rio Tinto. TALC AND PYROPHYLLITE (Data in thousand metric tons unless noted) Domestic Production and Use: The total estimated crude ore value of 2007 domestic talc production was $26 million. There were 12 talc-producing mines in 7 States in 2007. Companies in Montana, New York, Texas, and Vermont accounted for most of the domestic production. Domestically produced ground talc was used in ceramics, 33%; paint, 20%; paper, 16%; roofing, 8%; plastics, 5%; rubber, 3%; cosmetics, 1%; and other, 14%. Two companies in North Carolina mined pyrophyllite. Production of pyrophyllite decreased from that of 2006. Consumption was, in decreasing order by tonnage, in refractory products, ceramics, and paint. Place a Bid!