sch.1-sec.1Definitions for part

sch.1-sec.1 Definitions for part

In this part— average market price , for a prescribed mineral (royalty), means the average for a return period of the following price, converted to Australian dollars at the hedge settlement rate for each day of the return period— for cobalt, copper, lead, nickel or zinc—the spot price quoted on the London Metal Exchange; for gold—the p.m. fix price quoted on the London Bullion Market; for silver—the fix price quoted on the London Bullion Market. reference price 1 , for a prescribed mineral (royalty), means— for cobalt—$55,115 for each tonne; or for copper—$3,600 for each tonne; or for gold—$600 for each troy ounce; or for lead—$1,100 for each tonne; or for nickel—$12,500 for each tonne; or for silver—$9 for each troy ounce; or for zinc—$1,900 for each tonne. reference price 2 , for a prescribed mineral (royalty), means— for cobalt—$83,775 for each tonne; or for copper—$9,200 for each tonne; or for gold—$890 for each troy ounce; or for lead—$2,500 for each tonne; or for nickel—$38,100 for each tonne; or for silver—$16.50 for each troy ounce; or for zinc—$4,400 for each tonne.

• (a) for cobalt, copper, lead, nickel or zinc—the spot price quoted on the London Metal Exchange;
• (b) for gold—the p.m. fix price quoted on the London Bullion Market;
• (c) for silver—the fix price quoted on the London Bullion Market.
• (a) for cobalt—$55,115 for each tonne; or
• (b) for copper—$3,600 for each tonne; or
• (c) for gold—$600 for each troy ounce; or
• (d) for lead—$1,100 for each tonne; or
• (e) for nickel—$12,500 for each tonne; or
• (f) for silver—$9 for each troy ounce; or
• (g) for zinc—$1,900 for each tonne.
• (a) for cobalt—$83,775 for each tonne; or
• (b) for copper—$9,200 for each tonne; or
• (c) for gold—$890 for each troy ounce; or
• (d) for lead—$2,500 for each tonne; or
• (e) for nickel—$38,100 for each tonne; or
• (f) for silver—$16.50 for each troy ounce; or
• (g) for zinc—$4,400 for each tonne.