Mining Regulation 2016

(Former clause 62 of 2010 Reg)

For the purposes of section 283 (1) (a) of the Act—

the base rate of royalty payable in respect of a mineral specified in Schedule 6 is the rate per tonne of mineral recovered that is specified in that Schedule, and

the base rate of royalty payable in respect of any other mineral (other than coal) is 4% of the value of mineral recovered.

For the purposes of section 283 (4) of the Act, the quantity of minerals (other than coal) recovered during any particular period is to be calculated in accordance with the following formula—

where—

R represents the quantity of minerals recovered by the holder of the mining lease during that period.

D represents the quantity of minerals disposed of by the holder of the mining lease during that period, as determined by the Chief Commissioner having regard to any records kept by the holder of the mining lease.

S₂ represents the quantity of minerals held (in the form in which they are disposed of) by the holder of the mining lease at the end of that period, as determined by the Chief Commissioner having regard to any records kept by the holder of the mining lease.

S₁ represents the quantity of minerals held (in the form in which they are disposed of) by the holder of the mining lease at the beginning of that period, as determined by the Chief Commissioner having regard to any records kept by the holder of the mining lease.