Mining Amendment Regulations 2018 (WA)

21 •Jiily 2018 GOVERNMENT GAZETTE, WA 2651

MINERALS AND PETROLEUM

Al P301

Mining Act 1978

Mining Amendment Regulations 2018

Made by the Governor in Executive Council.

1.   Citation

These regulations are the Mining Amendment Regulations 2018.

2.   Commencement

These regulations come into operation as follows —

(a) regulations 1 and 2 — on the day on which these regulations are published in the Gazette;

(b) the rest of the regulations — on the day after that day.

3. Regulations amended

These regulations amend the Mining Regulations 1981.

4. Regulation 86AD amended

(1)	In regulation 86AD(1) delete the definitions of:
Platts freight rate Plaits index Platts midpoint price

Assessment" set out in the publication titled "SBB

(2) In regulation 86AD(1) insert in alphabetical order:

Freight Wire" published by S&P Global Platts (a
division of S&P Global Inc.);
Platts daily assessments means the table headed "Platts
Daily Iron Ore Assessments" set out in the publication
titled "SBB Steel Markets Daily" published by S&P
Global Platts (a division of S&P Global Inc.); Dry Freight Wire means the publication titled "Dry headed "Platts Daily Iron Ore Lump Premium Spot

2652 GOVERNMENT GAZETTE, WA 24 July 2018

Steel Markets Daily" published by S&P Global Platts
(a division of S&P Global Inc.);

Platts freight rate means -

(a)	the freight rate for capesize vessels to move
iron ore from Port Hedland to Qingdao published in the Dry Freight Wire on the day the iron ore for which royalty is payable is first sold; or
(b)	if there is no freight rate as described in
vessels to move iron ore from Port Hedland to

paragraph (a), the freight rate for capesize before the day referred to in that paragraph;

Platts premium means -

(a)	the daily spot lump premium assessment
midpoint published in the Platts daily premium spot assessment on the day the iron ore for which royalty is payable is first sold; or
(b)	if there is no daily spot lump premium
assessment midpoint as described in paragraph (a), the daily spot lump premium assessment midpoint last published in the Platts daily premium spot assessment before the day referred to in that paragraph;

Platts price means -

(a)	the daily iron ore price published in the Platts
daily assessments on the day the iron ore for which royalty is payable is first sold; or
(b)	if there is no daily iron ore price as described in
paragraph (a), the daily iron ore price last published in the Platts daily assessments before the day referred to in that paragraph;

(3)	Delete regulation 86AD(2) and insert:
(2) The royalty value of iron ore is -

(a)	if the first sale of the ore by the tenement
holder is effected by delivery onto or from a ship exporting the ore from Australia (as evidenced by a bill of lading and the invoices relating to the sale and export of the ore) - the gross invoice value of the ore less shipping costs for the ore; or
(b)	in any other case -

(i) the reference amount for the ore; or

(ii) if the Minister makes a determination

under subregulation (2A), the value

24 July 2018 GOVERNMENT GAZETTE, WA 2653

worked Out using the method

determined under that subregulation.

(2A) For the purposes of subregulation (2)(b), the Minister

may in a particular case determine -

(a)	that the royalty value of iron ore is not to be the reference amount for the ore because of market factors affecting the sale of the ore; and
(b)	a method for working out the value of the ore that takes into account those factors.

(4)	Delete regulation 86AD(4) and insert:
(4) For the purposes of subregulation (3)(a), but subject to subregulations (5) and (6), the index price for iron ore (the royalty ore) is -

(a)	the Platts price for iron ore of the same grade as the royalty ore plus, if the royalty ore is lump ore, the Platts premium; or
(b)	if there is no Platts price for iron ore of the same grade as the royalty ore, the price calculated in accordance with the following formula -

G

I = P x—	R
where -
I	is the index price;
P	is the Platts price for iron ore of the closest grade (the reference grade) to the grade of the royalty ore plus, if the royalty ore is lump ore, the Platts premium;

G	is the percentage number of the grade of the royalty ore;
R	is the percentage number of the reference grade.

(5)	In regulation 86AD(5) delete "midpoint" (each occurrence).
(6)	In regulation 86AD(6) delete "index," and insert:
daily assessments,

R. NEILSON, Clerk of the Executive Council.