Mineral Resources Act 1989

A mining lease for a prescribed mineral is a prescribed mineral mining lease if—

when the lease is granted or renewed, there is a development plan for the lease; or

paragraph (a) does not apply to the lease and, at least once, a threshold amount of the prescribed mineral has been mined—

if the mining lease is part of a mining project—under the mining project in a project year for the project other than an excluded year; or

otherwise—under the lease in a lease year for the lease other than an excluded year.

However, a mining lease to which subsection (1)(b) applies does not start to be a prescribed mineral mining lease until immediately after the threshold year for the lease ends.

This section applies subject to section 317X.

To remove any doubt, it is declared that a mining lease for a prescribed mineral continues to be a prescribed mineral mining lease even if a threshold amount of the prescribed mineral is not mined—

for a lease to which subsection (1)(a) applies—under the lease in any lease year for the lease or, if the lease is part of a mining project, under the mining project in any project year for the project; or

for a lease to which subsection (1)(b) applies—under the lease in any lease year for the lease after the threshold year or, if the lease is part of a mining project, under the mining project in any project year for the project after the threshold year.

In this section—

for a lease that is part of a mining project—

a project year for the project that began before the mineral was prescribed by regulation to be a prescribed mineral; or

if the prescribed threshold for the mineral is decreased and, prior to the decrease taking effect, an amount of the mineral that equals or exceeds the former prescribed threshold had not been mined under the project in a project year for the lease—a project year for the project that began before the decrease took effect; or

otherwise—

a lease year for the lease that began before the mineral was prescribed by regulation to be a prescribed mineral; or

if the prescribed threshold for the mineral is decreased and, prior to the decrease taking effect, an amount of the mineral that equals or exceeds the former prescribed threshold had not been mined under the lease in a lease year for the lease—a lease year for the lease that began before the decrease took effect.

if the lease is part of a mining project—the first project year, after any excluded years, in which a threshold amount of the prescribed mineral is mined under the mining project; or

otherwise—the first lease year, after any excluded years, in which a threshold amount of the prescribed mineral is mined under the lease.