mineral and mining rights

[Chirpy12]

Hi we are about a week from exchanging on a house with 5 acres. We have found out the land has mineral/mining rights, there is an old gravel pit next door that is now a lake/ private house. The rights were not in the property details and the agent didn’t mention them. Does this reduce the reduce the value of the property? I have not overly concerned about the rights and we will take out an indemnity, just whether the house been valued to high. As I said the agent said they didn’t know.

Even with the rights you have to get planning permission before you can start exploiting the minerals. 😁
Of course neighbouring properties may have similar rights and you could find yourself living next to a huge open cast mine in a year or two!
Actually the area I live in is dotted with small stone quarries - they shift around as the layers of usable stone are exhausted. There are strict rules about noise, pollution etc. if you want to make a new pit. Years ago they used to mine the best veins of stone rather than quarry from above and there is little information where the old mines are. A few months back on our local FB someone posted a pic of the inside of their garden shed - the floor had disappeared into what looked like a bottomless hole!