Victorian Numbered Regulations Victorian Numbered Regulations(1) For the purposes of section 12(1)(b) of the Act, royalties for any mineral, other than gold or lignite, are payable by the holder of a mining licence or the holder of a prospecting licence at the rate of 2·75 per cent of the net market value of the mineral produced under the licence.
(2) For the purposes of section 12(2) of the Act, royalties are payable at the rate of $1.43 per cubic metre for tailings resulting from work under a licence over Crown land disposed of by the holder of––
(a) a mining licence under section 14(2)(b) of the Act; or
(b) a prospecting licence under section 14B(2A) of the Act.