(1) Subject to this
section, the Minister may, by instrument in writing, determine the rate of
royalty payable for a mineral of a kind specified in the instrument.
(2) Without limiting
subsection (1), the rates of royalty determined under that subsection may
include a rate that is related to the landed value, or to the quantity, of the
mineral.
(3) A rate of royalty
determined under subsection (1) applies in relation to any mineral of the
relevant kind recovered under a mining licence during the period when the rate
is in force.
(4) A determination of
a rate of royalty under subsection (1) takes effect on the day on which the
instrument of determination is published in the Gazette .