Crown Minerals (Royalties for Minerals Other than Petroleum) Regulations 2013

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Crown Minerals (Royalties for Minerals Other than Petroleum) Regulations 2013

Jerry Mateparae, Governor-General

Order in Council

At Wellington this 20th day of May 2013

His Excellency the Governor-General in Council

Pursuant to sections 105 and 105A of the Crown Minerals Act 1991, His Excellency the Governor-General, acting on the advice and with the consent of the Executive Council and on the recommendation of the Minister of Energy and Resources, makes the following regulations.


1 Title

2 Commencement

Part 1
Preliminary provisions

3 Application

4 Interpretation

5 Meaning of development costs

6 Meaning of exploration costs

7 Meaning of production costs

8 Meaning of restoration costs

9 Meaning of related parties

10 GAAP accounting procedures to be used

11 Form of provision of document if not prescribed

Part 2
Royalties for minerals

Subpart 1When royalties payable and rates of royalties

12 Permit holder must pay royalties

13 Royalty payable for Tier 1 permits

14 Royalty payable for Tier 2 permits

15 Royalty rate for minerals specified in Schedule

Subpart 2How to calculate net sales revenues, gross sales revenues, accounting profits, and allowable APR deductions

16 Net sales revenues

17 Gross sales revenues

18 Netbacks and net forwards

19 Point of valuation

20 Calculation of accounting profits

21 Calculation of capital proceeds

22 Allowable deductions for exploration costs

23 Allowable deductions for depreciation

24 Allowable deductions for pre-production costs (for permits other than those preceded by mining licence)

25 Allowable deductions for pre-production costs (for permits preceded by existing privilege)

26 Allowable deductions for restoration costs

27 Allowable deductions for operating losses carried forward

28 Allowable deductions for unclaimed restoration costs

29 Calculation of final accounting profits

30 Items not calculated according to arm's length contract

31 Deductions allowed only once

32 Arm's length value

33 Allocation of common costs and revenues where Crown owned and privately owned minerals extracted

34 Allocation of common costs and revenues where permits worked together as single project

35 Allowable APR deductions if transfer of participating interest

36 Calculations must be exclusive of GST

Part 3
Royalty returns, payments, and refunds

37 Reporting period

38 Royalty returns: categories of, and when and how required

39 Interim royalty return: contents

40 Annual royalty return: contents

41 Final royalty return: contents

42 Royalty returns where permit holder 2 or more permit participants

43 Accountant or auditor statement

44 Payment and refund of royalties

45 Accounts and records

46 Transitional provision

Royalty payable for certain Tier 2 permits

Explanatory note

Administrative information