15Records

15 Records

(1)  The holder of a mineral tenement is to keep a record of the following information in relation to minerals, or geothermal energy, obtained during mining operations under the mineral tenement:

(a) the quantity of minerals, or geothermal energy, obtained;

(b) the quantity of mineral products produced from the treatment of ores;

(c) the quantity of mineral products, or geothermal energy, sold;

(d) the amount received from the sale of mineral products or geothermal energy;

(e) any details, calculations or information used to determine yearly profits.

(2)  The holder of a mineral tenement is to retain, in good condition, for at least 7 years, a record kept under subregulation (1) .

(3)  The Director may require the holder of a mineral tenement to supply to the Director –

(a) copies of all records kept under subregulation (1) ; and

(b) any other information necessary to enable the amount of royalty payable by that person to be assessed.

(4)  The Director, or any other person authorised in writing by the Director, may examine –

(a) the records kept under subregulation (1) ; and

(b) any information requested under subregulation (3)(b) .