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NZ Legacy not only possesses a wide diversity of landforms and geography above ground, but also a wide diversity of minerals and resources below ground.
One of the most valuable long-term assets that NZ Legacy owns is its substantial water rights along the Coconino Acquifer.
NZ Minerals, LLC
NZ owns close to one million acres of mineral rights spread across northern Arizona, New Mexico, Colorado and Oklahoma.
Approximately 305,000 of the 992,000 mineral acres lay under the Navajo Reservations. Over 200,000 acres of mineral rights are under Navajo Allottee Lands in New Mexico. The US House and Senate passed a law in 2002 and President Bush signed into law on February 7, 2002, allowing the previous owners of NZ to transfer the mineral rights under a small New Mexico Reservation (Acoma/Pueblo) in exchange for cash or BLM land exchange valued over $1 Million. This was their “trial balloon” to see if the US government would perfect or “unify” the Indian Reservation’s rights on and below their land… especially where conflicting rights were issued to various parties in the 1800’s. This has been successful and NZ believes that much of these Reservation Mineral Rights will be turned into cash or credits for federal land exchange. This is the most immediate source of value in the mineral rights.
Water rights might be the greatest asset associated with this land. The Coconino Water Aquifer holds over 250 Million acre feet of water. It is fed by the rain and snows that accumulate in the White Mountains of Arizona and New Mexico. The property is directly over the center of this aquifer. APS, SRP, TEP and other utilities have built power plants on this aquifer within eyesight to the east and west of NZ lands. Abatibi, the largest paper producer in the Southwest is also located within 10 miles of some of this property. These large corporations conducted water studies in the 1960’s proving up this tremendous source of high quality water. They have subsequently greatly expanded their plants and TEP is in the process of expanding the Springerville plant by 50% over the next 3 years. APS currently pays $40,000 per year to NZ to water mine the Joseph City parcels. NZ recently contracted with a local well driller to develop 10 commercial wells capable of pumping 1000 to 3,000 gpm in a geographically diverse pattern. Short-term, these wells will be used for agricultural purposes but ultimately they will probably provide municipal potable water for a new metro area.
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