34. COMMITMENTS (b) Operating lease commitments - Company as lessee (c) Operating lease commitments - Company as lessor The Company has entered into commercial property leases on office rental and remote area residential accommodation. The  Company has entered into commercial leases on office equipment. These operating leases have an average life of between  one month and three years with renewal options included in the contracts. The Company also has commercial leases over the  tenements in which the mining operations are located. These tenement leases have a life of between six months and twenty  one years. In order to maintain current rights to explore and mine the tenements the Consolidated Entity is required to perform  minimum exploration work to meet the expenditure requirements specified by the relevant state governing body. There are  no restrictions placed on the lessee by entering into these contracts. The operating lease commitments include Joint Venture  commitments as disclosed in note 38. Future minimum rentals payable under non-cancellable operating leases as at 30 June are as follows: The Company has entered into a commercial sub-lease on the above mentioned office space which expired in January 2011. 103 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2011 2011 2010 Property leases as lessee: - Within one year 250,243  246,971  - After one year but not more than five years 779,310  1,026,768  1,029,553  1,273,739  Equipment leases: - Within one year 13,764  11,677  - After one year but not more than five years 19,499  550  33,263  12,227  Mineral tenement leases: - Within one year 282,043  245,157  - After one year but not more than five years 936,111  807,441  - After more than five years 861,519  933,688  2,079,673  1,986,286  (i) (ii) (iii) (a) 2011 2010 Capital commitments Commitments relating to jointly controlled assets At 30 June 2011 the Consolidated Entity has capital commitments that relate principally to the purchase of maintenance plant and  equipment for the Bluestone Mines Tasmania Joint Venture. Capital expenditure commitments Estimated capital expenditure contracted for at reporting date, but not recognised as liabilities in respect of the Bluestone Mines  Tasmania Joint Venture - Within one year 115,023  223,868 