Minerals Development Act 2017

Initial compensation for private minerals worked under mining licence

92. (1) If the Minister grants a mining licence that applies to private minerals, then every right-to-compensation holder whose right relates to minerals located on or in the specified land shall be paid the greater of—

(a) €500, and

(b) €500 together with a prescribed amount that increases the amount in paragraph (a) to reflect any change in the consumer price index.

(2) The Minister shall make the payment under this section within 45 days after the date of the notice from the Minister advising the right-to-compensation holder that his or her entitlement has been established or, in the case of the Mining Board determining entitlement, the date of its determination.

(3) In this section “change in the consumer price index” means the difference between—

(a) the All Items Consumer Price Index number last published by the Central Statistics Office before the date of the passing of this Act, and

(b) the All Items Consumer Price Index number most recently published by the Central Statistics Office before the date on which the amount is prescribed for the purposes of subsection (1)(a),

expressed as a percentage of the last-mentioned number.