Royalty value for nickel and cobalt and copper sold as nickel by‑products
40 Royalty value for nickel and cobalt and copper sold as nickel by‑products
In this regulation —
contracted list price, for nickel, or cobalt or copper sold as a nickel by‑product, has the meaning given in regulation 39(3) in relation to the nickel, cobalt or copper;
reference price, for nickel, or cobalt or copper sold as a nickel by‑product, has the meaning given in regulation 39(5) in relation to the nickel, cobalt or copper.
The royalty value of nickel is the amount worked out —
by multiplying —
the percentage of units of nickel metal in the nickel-containing material sold as specified in an invoice for the sale; and
the contracted list price for the nickel, or if there is no contracted list price, the reference price for the nickel;
and
subtracting the total of the allowable deductions for the nickel.
The royalty value of cobalt or copper sold as a nickel by‑product is the amount worked out —
by multiplying —
the percentage of units of cobalt or copper in the nickel by‑product sold as specified in an invoice for the sale; and
the contracted list price for the cobalt or copper, or if there is no contracted list price, the reference price for the cobalt or copper;
and
subtracting the total of the allowable deductions for the cobalt or copper.
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