(1) The royalty rate for a mineral extracted from a mining operation is the rate specified in Schedule 1 opposite the mineral.
(2) If a mineral is not specified in Schedule 1, the royalty rate is the rate specified in Schedule 2 opposite the category of the mineral.
(3) If the royalty rate for a mineral cannot be determined under subsection (1) or (2), the royalty rate is 7.5%.
(4) If the royalty determination date is the day a mineral receives its last treatment in the Territory under section 8 (b)(ii), the royalty rate is the rate applicable to the category of the mineral after that treatment.