Mineral Resources (Royalty) Regulation 2025
sch.1-sec.12Iron ore
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sch.1-sec.12 Iron ore
The royalty rate for iron ore is— if the average price for each tonne of iron ore is $100 or less—$1.25 for each tonne; or if the average price for each tonne of iron ore is more than $100—the following percentage of the value of the iron ore, whichever is the higher— 1.25%; the amount, expressed as a percentage, worked out using the following formula, rounded down to the nearest increment of 0.02%— where— P is the percentage. A is the average price for each tonne of the iron ore. In this section— average price for each tonne , of iron ore, means the average price for each tonne of the iron ore sold, disposed of or used in the return period. (sch.1-sec.12-ssec.1) The royalty rate for iron ore is— if the average price for each tonne of iron ore is $100 or less—$1.25 for each tonne; or if the average price for each tonne of iron ore is more than $100—the following percentage of the value of the iron ore, whichever is the higher— 1.25%; the amount, expressed as a percentage, worked out using the following formula, rounded down to the nearest increment of 0.02%— where— P is the percentage. A is the average price for each tonne of the iron ore. (sch.1-sec.12-ssec.2) In this section— average price for each tonne , of iron ore, means the average price for each tonne of the iron ore sold, disposed of or used in the return period.
- (a) if the average price for each tonne of iron ore is $100 or less—$1.25 for each tonne; or
- (b) if the average price for each tonne of iron ore is more than $100—the following percentage of the value of the iron ore, whichever is the higher— (i) 1.25%; (ii) the amount, expressed as a percentage, worked out using the following formula, rounded down to the nearest increment of 0.02%— where— P is the percentage. A is the average price for each tonne of the iron ore.
- (i) 1.25%;
- (ii) the amount, expressed as a percentage, worked out using the following formula, rounded down to the nearest increment of 0.02%— where— P is the percentage. A is the average price for each tonne of the iron ore.
- (i) 1.25%;
- (ii) the amount, expressed as a percentage, worked out using the following formula, rounded down to the nearest increment of 0.02%— where— P is the percentage. A is the average price for each tonne of the iron ore.