sec.33Gross value of market value minerals

sec.33 Gross value of market value minerals

The gross value of a market value mineral that is a prescribed mineral (royalty) or a relevant mineral is— if the mineral is a market value mineral under section 32 (1) (a) —the amount obtained for the mineral by selling it at the listed price, or average listed price, for the mineral, disregarding any processing adjustment for the mineral; or if the mineral is a market value mineral under section 32 (1) (b) —the market value established for the mineral by reference to a listed price, or average listed price, for the mineral, disregarding any processing adjustment for the mineral; or if the mineral is a market value mineral under section 32 (1) (c) or (d) —the amount for which the mineral is sold, disregarding any processing adjustment for the mineral. The gross value of a market value mineral other than a prescribed mineral (royalty) or a relevant mineral is— if the mineral is a market value mineral under section 32 (1) (a) , (c) or (d) —the amount for which the mineral is sold; or if the mineral is a market value mineral under section 32 (1) (b) —the market value established for the mineral by reference to a listed price, or an average listed price, for the mineral. However, if a mineral is sold and an amount in relation to the royalty payable for the mineral is recovered from the buyer, the gross value of the mineral is the total of— the amount worked out under subsection (1) or (2) ; and the amount recovered. In this section— processing adjustment , for a mineral, means an adjustment to the sale price of the mineral, or the market value of the mineral, that relates to the post-sale or post-disposal processing of the mineral, including, for example the following— a treatment charge; a refining charge; a quantity adjustment for the loss of metal content; a penalty for the presence of deleterious elements. relevant mineral means any of the following— iron ore; manganese; molybdenum; tantalum; tungsten; uranium. (sec.33-ssec.1) The gross value of a market value mineral that is a prescribed mineral (royalty) or a relevant mineral is— if the mineral is a market value mineral under section 32 (1) (a) —the amount obtained for the mineral by selling it at the listed price, or average listed price, for the mineral, disregarding any processing adjustment for the mineral; or if the mineral is a market value mineral under section 32 (1) (b) —the market value established for the mineral by reference to a listed price, or average listed price, for the mineral, disregarding any processing adjustment for the mineral; or if the mineral is a market value mineral under section 32 (1) (c) or (d) —the amount for which the mineral is sold, disregarding any processing adjustment for the mineral. (sec.33-ssec.2) The gross value of a market value mineral other than a prescribed mineral (royalty) or a relevant mineral is— if the mineral is a market value mineral under section 32 (1) (a) , (c) or (d) —the amount for which the mineral is sold; or if the mineral is a market value mineral under section 32 (1) (b) —the market value established for the mineral by reference to a listed price, or an average listed price, for the mineral. (sec.33-ssec.3) However, if a mineral is sold and an amount in relation to the royalty payable for the mineral is recovered from the buyer, the gross value of the mineral is the total of— the amount worked out under subsection (1) or (2) ; and the amount recovered. (sec.33-ssec.4) In this section— processing adjustment , for a mineral, means an adjustment to the sale price of the mineral, or the market value of the mineral, that relates to the post-sale or post-disposal processing of the mineral, including, for example the following— a treatment charge; a refining charge; a quantity adjustment for the loss of metal content; a penalty for the presence of deleterious elements. relevant mineral means any of the following— iron ore; manganese; molybdenum; tantalum; tungsten; uranium.