Additional rent payable for certain mining leases
42 Additional rent payable for certain mining leases
For the purposes of section 120E(1) of the Act, additional rent is payable to the State in accordance with this regulation for a mining lease from which iron ore is obtained.
The additional rent is payable in relation to the iron ore obtained from the mining lease starting on the day that is 15 years after the day on which iron ore is first obtained from the mining lease.
The additional rent —
is payable for each quarter in relation to the iron ore obtained from the mining lease during the quarter; and
is calculated at the rate of 25 cents per tonne of iron ore, regardless of the form of the iron ore.
The lessee of the mining lease must pay the additional rent for a quarter to the Commissioner within 30 days after the end of the quarter for which it is payable.
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