Mineral Resources Regulations 2016 (Tas)

Mineral Resources Regulations 2016

I, the Governor in and over the State of Tasmania and its Dependencies in the Commonwealth of Australia, acting with the advice of the Executive Council, make the following regulations under the Mineral Resources Development Act 1995 .

15 June 2016

C. WARNER

Governor

By Her Excellency's Command,

WILLIAM E. F. HODGMAN

Acting for and on behalf of the Minister for Mining

PART 1 - Preliminary

1. Short title These regulations may be cited as the Mineral Resources Regulations 2016 .

2. Commencement These regulations take effect on 28 June 2016.

3. Interpretation In these regulations – Act means the Mineral Resources Development Act 1995 ; Australian Accounting Standards means the Australian Accounting Standards, made by the Australian Accounting Standards Board, as in force from time to time; building and dimension stone means stone used – (a) for ornamental purposes; or (b) in walls, floors or roofs of structures; or (c) as a paving stone; datum post means a post erected on the corner of land being marked out; financial year has the same meaning as in the Corporations Act 2001 of the Commonwealth; gold doré means an alloy of gold and silver resulting from the treatment of gold-bearing minerals; GST has the same meaning as in the A New Tax System (Goods and Services Tax) Act 1999 of the Commonwealth; holder's financial year means the financial year for the holder of a mineral tenement; iron ore pellet means a pellet that is produced by combining iron ore concentrate with other materials; metal means a metallic mineral, specified in Part 1 of Schedule 4 , refined to an elemental state; mineral concentrate means the product of a chemical or physical process of extracting a metal from a mineral ore that results in the enrichment of that metal; mineral ore means the naturally occurring material from which one or more minerals of economic value can be extracted; net sales, in relation to a mineral, means the amount received from the sale of – (a) if a mineral concentrate has not been produced from the mineral ore, the mineral itself (less sale costs); or (b) if a mineral concentrate has been produced from the mineral ore, the mineral concentrate (less sale costs); or (c) if an iron ore pellet has been produced, the iron ore concentrate within the pellet (less sale costs); public notice means a notice published in a newspaper circulating in the area in which the land, which is the subject of the notice, is situated; quarter means – (a) a period of 3 months ending on 31 March, 30 June, 30 September or 31 December in any year; or (b) any other approved period; reference rate means the 30 Day Bank Bill Swap Reference Rate published daily by the Australian Financial Markets Association; sale costs means costs reasonably incurred by a lessee, or licensee, for the purposes of making a mineral ore, or mineral concentrate, available for sale outside the site of its production and includes – (a) costs incurred by a lessee, or licensee, in transporting a mineral ore, or mineral concentrate, from the site of its production to the point of sale; and (b) costs incurred by a lessee, or licensee, in preparing or refining a mineral ore, or mineral concentrate, outside the site of its production; and (c) costs incurred by a lessee, or licensee, in arranging or effecting sale, or delivery, of a mineral ore or mineral concentrate; year means any 4 consecutive quarters used for accounting purposes.