New Zealand’s Mining Fiscal Regime: H1 2014

The country’s mining industry is governed by the Ministry of Business, Innovation and Employment (MBIE), and by its branch New Zealand Petroleum and Mineral (NZP&M), which is responsible for managing the New Zealand Government‘s oil, gas, mineral and coal resources, known as the Crown Mineral Estate.

Scope

The report outlines New Zealand’s governing bodies, governing laws, mining permits and key fiscal terms which includes Royalty, Corporate Income Tax, Capital Gain, Withholding Tax, Depreciation Rates, Loss Carry Forward and Goods and Service Tax.

Key Highlights

• The Ministry of Business, Innovation and Employment (MBIE) was formed on July 1, 2012, the MBIE plays an important role in shaping and delivering a strong economy for New Zealand. The ministry is also responsible for delivering policy, advice and regulation to support business growth and prosperity of all the country’s residents.

• The New Zealand Petroleum and Mineral (NZP&M) is a branch of MBIE, which manages the New Zealand Government’s oil, gas, mineral and coal resources, known as the Crown Mineral Estate.

• The Crown Mineral Act 1991 is the main legislative structure that regulates policy for the prospecting, exploration and mining of Crown-owned minerals in New Zealand.

• The Crown Minerals (Minerals Other than Petroleum) Regulations 2007 specify requirements and procedures for explorers and miners.

Reasons to buy

To gain an overview of New Zealand's mining fiscal regime.

Companies mentioned

Table of Contents

1 Executive Summary 1

2 The New Zealand Mining Industry – Governing Bodies 5

2.1 Ministry of Business, Innovation and Employment (MBIE) 5

2.2 New Zealand Petroleum and Mineral (NZP&M) 5

3 The New Zealand Mining Industry – Governing Laws 6

3.1 Crown Mineral Act 1991 6

3.2 Crown Minerals (Minerals Other than Petroleum) Regulations 2007 6

3.3 Crown Minerals (Mineral fees) Regulations 2006 6

3.3.1 Annual fee payable under prospecting permit 6

3.3.2 Annual fee payable under exploration permit 6

3.3.3 Annual fee payable under extension of duration of exploration permit for appraisal work 6

3.3.4 Annual fee payable under mining permit 6

4 The New Zealand Mining Industry – Mining Permits 7

4.1 Prospecting Permit 7

4.2 Exploration Permit 7

4.3 Mining Permit 7

5 The New Zealand Mining Industry – Key Fiscal Terms 8

5.1 Royalty 8

5.2 Corporate Income Tax 8

5.3 Capital Gain 8

5.4 Withholding Tax 8

5.5 Depreciation Rates 9

5.6 Loss Carry Forward 9

5.7 Goods and Service Tax 9

6 Appendix 10

6.1 What is this Report About? 10

6.2 Methodology 10

6.3 Secondary Research 10

6.4 Primary Research 10

6.5 Contact GlobalData 11

6.6 About GlobalData 11

6.7 GlobalData’s Services 12

6.8 Disclaimer 13

List of Tables

Table 1: The Mining Industry in New Zealand – Fiscal Regime Terms and Other Taxes (%), 2014 1

Table 2: The Mining Industry in New Zealand – Withholding tax (%), 2014 8

Table 3: The Mining Industry in New Zealand – Depreciation tax (%), 2014 9

List of Figures

Figure 1: The Mining Industry in New Zealand – Commodity Mines at Different Stages (Number of Mines), 2014 1

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