Mineral Resources Amendment Regulations 2011

Mineral Resources Amendment Regulations 2011

I, the Lieutenant-Governor in and over the State of Tasmania and its Dependencies in the Commonwealth of Australia, acting with the advice of the Executive Council, make the following regulations under the Mineral Resources Development Act 1995 .

8 August 2011

E. C. CRAWFORD

Lieutenant-Governor

By His Excellency's Command,

BRYAN GREEN

Minister for Energy and Resources

1.   Short title

These regulations may be cited as the Mineral Resources Amendment Regulations 2011 .

2.   Commencement

These regulations take effect on the day on which their making is notified in the Gazette.

3.   Principal Regulations

In these regulations, the Mineral Resources Regulations 2006 are referred to as the Principal Regulations.

4.    Regulation 3 amended (Interpretation)

Regulation 3 of the Principal Regulations is amended by omitting the definitions of AIFRS and amount received and substituting the following definition:

Australian Accounting Standards means the Australian Accounting Standards, made by the Australian Accounting Standards Board, as those Standards are in force from time to time;

5.    Regulation 3A inserted

After regulation 3 of the Principal Regulations , the following regulation is inserted in Part 1:

3A.   Determination of amount received from sale of mineral

(1)  In this regulation –

AAS revenue from the sale of the mineral means the amount that is –

(a) determined, in accordance with the Australian Accounting Standards, to be the revenue from the sale of the mineral; and

(b) required in accordance with those Standards to be recorded in an income statement.

(2)  For the purposes of these regulations, the amount received from a sale of a mineral is –

(a) the AAS revenue from the sale of the mineral; or

(b) if subregulation (4) applies in relation to the sale, the amount determined, in accordance with that subregulation, to be the revenue from the sale.

(3)  Subregulation (4) applies to a sale of a mineral if –

(a) the mineral was sold by a lessee or licensee to a person related to the lessee or licensee; and

(b) the AAS revenue from the sale of the mineral was less than would have been recorded in an income statement if the market price, as at the time of the sale of the mineral, had been paid for the mineral.

(4)  If this subregulation applies to a sale of a mineral, the revenue from the sale is the amount that would have been the AAS revenue from the sale of the mineral if the mineral had been sold at the market price for the mineral, as at the time of the sale of the mineral.

(5)  In this regulation, a person is related to a lessee or licensee if –

(a) the person is a natural person and the lessee or licensee is a relative of the person or is a body corporate controlled by a relative of the person; or

(b) the person is a body corporate, the lessee or licensee is a body corporate and the person is related to the lessee or licensee under section 50 of the Corporations Act.

(6)  For the purposes of subregulations (3) and (4) , the time of sale of a mineral is the time at which possession of the mineral is transferred to the purchaser of the mineral.

6.    Regulation 5 amended (Marking out)

Regulation 5(3) of the Principal Regulations is amended as follows:

(a) by omitting from paragraph (a) "and";

(b) by omitting paragraph (b) .

7.    Regulation 8 amended (Meaning of "yearly profit")

Regulation 8 of the Principal Regulations is amended as follows:

(a) by inserting the following subparagraph after subparagraph (iv) in subregulation (1)(a) :

(v) royalty; and

(b) by omitting "within the meaning of the AIFRS" from the definition of mine rehabilitation interest expense in subregulation (2) and substituting ", within the meaning of the Australian Accounting Standards,";

(c) by omitting "AIFRS" from the definition of prescribed yearly profit in subregulation (2) and substituting "Australian Accounting Standards".

8.    Regulation 17 amended (Audit report)

Regulation 17(1)(a) of the Principal Regulations is amended by omitting "AIFRS" and substituting "Australian Accounting Standards".

9.    Regulation 21 inserted

After regulation 20 of the Principal Regulations , the following regulation is inserted in Part 5:

21.   Transitional provisions

(1)  In this regulation –

amending regulations means the Mineral Resources Amendment Regulations 2011 ;

commencement day means the day on which the amending regulations take effect;

relevant licence means an exploration licence (other than a special exploration licence), granted before the commencement day, for petroleum, coal seam gas or a geothermal substance.

(2)  Despite the changes to Schedule 3 effected by the amending regulations, the fee payable for rent for the second period of 12 months of a relevant licence is the amount that would have been payable for that period if the amending regulations had not taken effect.

10.    Schedule 1 substituted

Schedule 1 to the Principal Regulations is rescinded and the following Schedule is substituted:

SCHEDULE 1 - Royalties

Regulation 7(1) and (2)

1.	For petroleum, for each $100 of the gross value of petroleum at the well head	$12.00
2.	For coal seam gas, for each $100 of the gross value of coal seam gas at the well head	$12.00
3.	For  –
	(a) clay, per tonne	$1.20
	(b) kaolin, per tonne	$1.20
	(c) dolomite for metallurgical and chemical use, per tonne	$1.20
	(d) dolomite for other uses, per tonne	$0.60
	(e) limestone for chemical and metallurgical use, per tonne	$1.20
	(f) limestone for other uses, per tonne	$0.60
	(g) silica for metallurgical use, per tonne	$1.20 or 5% of sales value, whichever is the greater
	(h) silica for other uses (excluding silica flour), per tonne	$0.60
	(i) sand, per tonne	$0.60
	(j) gravel, per tonne	$0.60
	(k) pebbles, per tonne	$2.40
	(l) building and dimension stone, per cubic metre	$5.00
	(m) crushed and broken stone, per tonne	$0.60
	(n) magnesite for chemical and metallurgical use, per tonne	$1.20 or 5% of sales value, whichever is the greater
	(o) magnesite for other uses, per tonne	$0.60
	(p) geothermal substance	2.5% of the value of sale at the well head
	(q) iron oxide used in pigment manufacture, per tonne	$1.20

11.    Schedule 2 amended (Fees)

Part 1 of Schedule 2 to the Principal Regulations is amended as follows:

(a) by omitting paragraphs (a) , (b) , (c) and (d) from item 1 and substituting the following paragraphs:

	(a) exploration licence (other than special exploration licence)	600
	(b) special exploration licence	2 400

(b) by omitting "(mineral other than coal or oil) a square kilometre" from paragraph (e) of item 1 ;

(c) by omitting item 3 and substituting the following item:

3.	Applications for extensions of term
	(a) exploration licence	300
	(b) special exploration licence	600
	(c) retention licence	300

(d) by inserting "or special exploration licence" after "licence" in paragraph (a) of item 4 ;

(e) by inserting "or special exploration licence" after "licence" in paragraph (a) of item 5 ;

(f) by inserting "or special exploration licence" after "licence" in paragraph (a) of item 7 ;

(g) by inserting after paragraph (b) in item 7 the following paragraph:

(c) mining lease

50

(h) by inserting "or special exploration licences" after "licences" in item 8 .

12.    Schedule 3 substituted

Schedule 3 to the Principal Regulations is rescinded and the following Schedule is substituted:

SCHEDULE 3 - Rent

Regulation 18(2) and (3)

Item No.	Type of fee	Amount
		Fee units
1.	Exploration licence –
	(a) each of the first 2 periods of 12 months, per square kilometre	16.5
	(b) each subsequent period of 12 months, per square kilometre	33
2.	Special exploration licence –
	(a) each of the first 2 periods of 12 months, per square kilometre	1.1
	(b) each subsequent period of 12 months, per square kilometre	1.65
3.	Retention licence –
	(a) coal, petroleum, coal seam gas or geothermal substance, per square kilometre for each period of 12 months	550
	(b) minerals other than coal, petroleum, coal seam gas or geothermal substance, per square kilometre for each period of 12 months	1 100
4.	Mining lease, per hectare, for each calendar year –	13.75 with minimum 275

13.    Schedule 4 amended (Prescribed minerals)

Schedule 4 to the Principal Regulations is amended as follows:

(a) by omitting item 7 from Part 1 and substituting the following item:

7.

caesium

(b) by omitting item 16 from Part 1 and substituting the following item:

16.	iron (except iron oxides used in pigment manufacture)

(c) by omitting item 19 from Part 1 ;

(d) by omitting item 31 from Part 1 and substituting the following item:

31.

rhodium

(e) by omitting "(for industrial use)" from item 12 in Part 2 ;

(f) by omitting "for metallurgical use" from item 15 in Part 2 ;

(g) by omitting "as a mineral for industrial purposes" from item 24 in Part 2 and substituting "in pigment manufacture";

(h) by omitting "(used as a mineral for industrial purposes)" from item 28 in Part 2 ;

(i) by omitting item 29 from Part 2 .

Displayed and numbered in accordance with the Rules Publication Act 1953.

Notified in the Gazette on 17 August 2011

These regulations are administered in the Department of Infrastructure, Energy and Resources.

EXPLANATORY NOTE

(This note is not part of the regulation)

These regulations amend the Mineral Resources Regulations 2006 by altering provisions in respect of royalties, prescribed minerals and rent.