Mineral Resources Development Act 1995

Subject to subsection (1B), a lessee must pay royalty at a prescribed rate in respect of a mineral sold under a lease.

Subject to subsection (1B), a licensee must pay royalty at a prescribed rate in respect of a mineral sold under a licence other than a geothermal production licence.

A lessee or a licensee must pay royalty calculated at a prescribed rate in respect of a mineral sold under a lease or licence for – the years commencing 1 July 1996, 1 July 1997 and 1 July 1998; and any year commencing on or after 1 July 1999.

The maximum rate of royalty payable under subsection (1B) is the prescribed maximum rate.

The holder of a geothermal production licence must pay a royalty at a prescribed rate in respect of geothermal energy produced under the licence.

Royalty is payable – in the case of – a lease or licence other than a geothermal production licence, from the date on which any mineral recovered under the lease or licence is sold; and a geothermal production licence, from the date on which geothermal energy is produced under the licence; and by the prescribed date and in respect of the prescribed period.

A rate of royalty may be calculated – as a percentage of the value of the mineral recovered, or, in the case of a geothermal substance, produced from the substance; or as an amount based on specified measurement; or by reference to any other prescribed matter.

Interest is payable on any royalty not paid by the due date at the prescribed rate.

The Minister may waive all or part of any interest payable under subsection (4), vary that rate of interest or defer payment of all or part of that interest.

Royalty is payable – in respect of any mineral recovered from, or any geothermal energy produced from a geothermal substance situated on, Crown land, to the Minister; and in respect of any mineral recovered from private land – to the owner of the land if the owner owns the mineral; or to the owner of the mineral if the owner is not the owner of the land; or to the Crown if the Crown owns the mineral.

For the purposes of calculating the rate of royalty, regulations may prescribe the manner in which – the quantity of minerals sold, or of geothermal energy produced from a geothermal substance, is to be calculated; and the value of minerals sold, or of geothermal energy produced from a geothermal substance, is to be calculated.

The Minister may waive all or part of royalty payable, vary the rate of royalty payable or defer payment of all or part of royalty payable in respect of any mineral recovered under, or in respect of any geothermal energy produced from a geothermal substance under, a lease in respect of Crown land or private land if – the mineral recovered, or the geothermal substance from which geothermal energy is produced, vests in the Crown; and the Minister is satisfied that the mineral recovered, or the geothermal energy produced from a geothermal substance, is being used for a community purpose approved by the Minister.

The owner of a mineral recovered from private land may waive all or part of royalty.

Royalty is not payable in respect of any mineral, recovered on Crown land or a State forest, which is required for the purposes of the Crown.