Minerals Development Act 2017
|
Calculation of compensation for private minerals payable over term of mining licence | ||
|
93. (1) When private minerals are worked under a mining licence, the Minister shall pay compensation to a right-to-compensation holder for minerals that have been— | ||
(a) extracted by the licensee under the mining licence from— | ||
(i) deposits of minerals to which the right to compensation relates, and | ||
(ii) mineral waste resulting from the working of the deposits referred to in subparagraph (i), | ||
and | ||
(b) removed from the area of the mining licence. | ||
(2) Subject to section 94 , the compensation payable by the Minister in respect of minerals referred to in subsection (1) shall be equal to the amount of the royalties payable in respect of those minerals in accordance with regulations made under section 77 less the amount paid to any right-to-compensation holder under section 92 . |