Extraction rights refers to the set of rights government may grant different actors; to extract, use and/or sell their natural resources; including, but not limited to, minerals, natural gas, ores, metals, water, etc.
Collateral is an item of value pledged to secure a loan, when subject fails to pay of their debt in given time frame, collateral becomes the creditor's property e.g. common collateral when taking a loan for buying a house is a house itself (mortgage).