The Department of Mines, Industry Regulation and Safety (DMIRS), Western Australia announced it plans to amend the Mining Regulations 1981 (WA) to clarify the wording of Regulation 86.
DMIRS’ General Manager of Financial Compliance, David Norris said the department is not changing royalty rates and is proposing some changes to the wording of the regulation to remove ambiguity in applying the appropriate royalty rate when minerals are sold in different forms.
“The regulation currently outlines which royalty rate applies to which mineral for calculating royalties however it doesn’t always specify the processed form to which the royalty rate applies,” Mr Norris said.
“This can lead to confusion when you apply the appropriate rate for a mineral sold in a different form.
“The suggested changes should ensure royalty rates are applied in a manner that is consistent with Western Australia’s royalty principles. All feedback is valuable and we are encouraging stakeholders to submit their comments.”
Further details about the proposed changes are available here.
The consultation period on proposed changes is open until 20 July 2018. Visit DMIRS’s consultation page for further information or to make a submission.
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