Victorian Consolidated Legislation

Mineral Resources (Sustainable Development) Act 1990 - SECT 12A

Royalties for lignite

12A. Royalties for lignite



(1) This section applies to the holder of a mining licence if the holder mines
lignite in accordance with the licence and has effect despite anything to the
contrary specified in the licence or the regulations (other than regulations
made for the purposes of subsection (2)).

(2) The holder of the mining licence must pay royalties for the lignite in
accordance with the prescribed rate.

(3) For the purposes of subsection (2), the prescribed rate is-

   (a)  the base amount per gigajoule unit of lignite produced; or

   (b)  if a different rate is prescribed in the regulations, that rate.

(4) Without limiting subsection (2), the holder of a mining licence must,
unless the Minister decides otherwise, pay royalties in respect of the
disposal under section 14(2)(b) of tailings resulting from work under a
licence over Crown land in accordance with the rate or method of assessment
and at the times prescribed.







(5) In this section-

base amount means-

   (a)  for the financial year ending on 30 June 2006, $0.0588; and

   (b)  for each subsequent financial year, the amount determined in
        accordance with the following formula-

where-
A is the consumer price index number for the quarter ending on 30 June
immediately preceding the financial year for which the determined amount is
being calculated;
B is the consumer price index number for the financial year ending on 30 June
2005; consumer price index number means the all groups consumer price index
number for Melbourne published by the Commonwealth Statistician in respect of
the relevant period; gigajoule unit of lignite means a quantity of lignite
which, when mined, has a net wet specific energy content of 1 gigajoule.
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