Australia Mining Industry Fiscal Regime Analysis – Governing Bodies, Regulations, Licensing Fees, Taxes, Royalties, 2023 Update

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Australia Mining Industry Report Overview

Australia is the largest iron ore producer in the world and also produces gold, bauxite, and lead, among other minerals. According to the US Geological Survey (USGS), as of January 2023, Australia had more than 28% of the world’s iron ore reserves.

The Australian mining industry report provides comprehensive coverage of Australia’s mining fiscal regime. The report focuses on the mining fiscals’ key aspects such as governing bodies, laws and regulations, governance frameworks, and sustainability practices. The report also includes mining-related taxes and royalties.

Governing Bodies •         Department of Industry, Innovation and Science

•         Geoscience Australia

•         Australian Nuclear Science and Technology Organization (ANSTO)

•         Minerals Council of Australia (MCA)

•         Division of Resources and Energy, Department of Planning and Environment

•         Department of Primary Industry and Resources

•         Department of Natural Resources and Mines

Key Laws •         Uranium Mining and Nuclear Facilities (Prohibitions) Act, 1986

•         Mining Management Act, 2001

•         Mining and Quarrying Safety and Health Act, 1999

•         Mineral Resources Development Act, 1995

Taxes and Royalties •         Goods and Service Tax (GST)

•         Corporate Income Tax (CIT)

•         Withholding Tax

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Australia Mining Industry - Governing Bodies

The Australian mining industry is governed and regulated by several authorities, which focus on aspects such as administration, environment, health, and safety. Some of the chief agencies include the Department of Industry, Innovation and Science, Geoscience Australia, Australian Nuclear Science and Technology Organization (ANSTO), Minerals Council of Australia (MCA), Division of Resources and Energy, Department of Planning and Environment, Department of Primary Industry and Resources, and Department of Natural Resources and Mines among others.

Department of Industry, Innovation, and Science: The function of the department is to support science and commercialization, growing business investment improving business capability, and streamlining regulations. It is also responsible for building a high-performance organization.

Governing Bodies in Australia Mining Industry

Governing Bodies in Australia Mining Industry

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Australia Mining Industry – Mining Laws

The main laws governing the mining industry of Australia are Uranium Mining and Nuclear Facilities (Prohibitions) Act, 1986, Mining Management Act, 2001, Mining and Quarrying Safety and Health Act, 1999, and Mineral Resources Development Act, 1995 among others. Commonwealth and state governments share the administrative responsibility in the case of offshore legislation. Various decision-making powers are given to different bodies. The state body is known as the Designated Authority, and the Commonwealth and state governments are represented by the Joint Authority.

The Joint Authority always acts through the corresponding Designated Authority, and every applicant for a license or a license holder must deal with the Designated Authority. The Joint Authority is the final decision-maker in all mining-related matters.

Mining Laws in Australia Mining Industry

Mining Laws in Australia Mining Industry

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Australia Mining Industry – Taxes and Royalties

The main taxes applicable in the Australia mining industry are the Goods and Service Tax (GST), Corporate Income Tax (CIT), and Withholding Tax.

Corporate Income Tax (CIT): Companies, including strata title bodies corporate, corporate limited partnerships, public trading trusts, and trustees of corporate unit trusts, which come under the base rate entities, are charged at a rate of 25% for FY2020-2022. A base rate entity is a company that both has an aggregated turnover of less than AUD50 million during FY2018–2019 or 80% or less of their assessable income is base rate entity passive income.

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Recent Development

  • In 2018, the Australian government amended the part of the Offshore Minerals Act, 1994, which was relevant to keeping samples and making returns of exploration activities of the Offshore Minerals (Exploration Activities) Regulations.

Scope

The report focuses on the mining fiscals’ key aspects such as governing bodies, laws and regulations, governance frameworks, and sustainability practices. The report also includes mining-related taxes and royalties.

Reasons to Buy

  • To help businesses navigate the complexities and comply with the necessary requirements.
  • Obtain up-to-date information on mining sector taxes and payments.
  • Enhance your decision-making capability in a more rapid and time-sensitive manner.
  • Conduct analysis to mitigate the impact of regulatory changes.
  • Understand the regulatory framework.
  • Gain an overview of the mining industry structure by identifying the country’s mining governing bodies, major laws, and licenses.

Table of Contents

Executive Summary

Country Overview

Mineral Overview

Government Bodies

Laws and Regulations

Mineral Licenses and Fees

Mining Taxes and Royalties

Sustainable Mining Practices

Appendix

Abbreviation

Table

Table 1: National level mining governing bodies and agencies, 2022

Table 2: Mining governing bodies and agencies by state/territory, 2022

Table 3: Mining governing bodies and agencies by state/territory, 2022

Table 4: Exploration (mineral owner) license application and renewal fees in NSW, 2022

Table 5: Mining leases and fees in NSW, 2022

Table 6: Assessment leases and fees in NSW, 2022

Table 7: Mining license, lease, permit and administration fees in Northern Territory, 2022

Table 8: Mining titles and fees in Victoria, 2022

Table 9: Mineral titles and fees in Queensland, 2022

Table 10: Mineral tenements and fees in South Australia, 2022

Table 11: Fees for mining license and lease in Tasmania, 2022

Table 12: Other mining related fees in Tasmania, 2022

Table 13: Mining rents in Tasmania, 2022

Table 14: Mining tenements and fees in Western Australia, 2022

Table 15: Royalty rates in New South Wales by commodity, 2022

Table 16: CRD factor, 2008–2021

Table 17: Price and royalty rate for base and precious metals in Queensland, FY2021–2022

Table 18: Discounts on processed minerals, 2021

Table 19: South Australia royalty rates (%), 2022

Table 20: Royalty rates in Western Australia (%), 2022

Table 21: Royalty rates in Western Australia (%), 2022

Figures

Figure 1: Country overview, 2022

Figure 2: Nominal GDP (US$ billion) and real GDP growth rate (%), 2001–2021

Figure 3: Mining investment and exports, 2014–2020

Figure 4: Corruption perception index rank, 2015–2021

Figure 5: CPI Ranking by country, 2021

Figure 6: Mineral production trend, 2011–2021

Figure 7: Three levels of Australia Government

Frequently asked questions

  • What are the key governing bodies in Australia mining industry?

    The key governing bodies in Australia mining industry are the Department of Industry, Innovation and Science, Geoscience Australia, Australian Nuclear Science and Technology Organization (ANSTO), Minerals Council of Australia (MCA), Division of Resources and Energy, Department of Planning and Environment, Department of Primary Industry and Resources, and Department of Natural Resources and Mines among others.

  • What are the main laws governing the mining industry of Australia?

    The main laws governing the mining industry of Australia are Uranium Mining and Nuclear Facilities (Prohibitions) Act, 1986, Mining Management Act, 2001, Mining and Quarrying Safety and Health Act, 1999, and Mineral Resources Development Act, 1995 among others.

  • Which are the key taxes applicable in the Australia mining market?

    The main taxes applicable in the Australia mining industry are the Goods and Service Tax (GST), Corporate Income Tax (CIT), and Withholding Tax.

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