New Zealand’s Mining Fiscal Regime: H1 2015

New Zealand has a range of minerals that contribute to the construction, energy and transport sectors of its economy, such as coal, gold, silver, iron sand and other mineral resources. 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. The Crown Mineral Act 1991 is the apex law regulating policy for prospecting, exploration and mining of Crown-owned minerals in New Zealand.

Scope

The report outlines the governing bodies, laws, licenses, rights, obligations and key fiscal terms which includes royalty, corporate income tax, capital gains tax, withholding tax, depreciation, loss carry forward, goods and service tax (GST).

Reasons to buy

Gain an overview of New Zealand's mining fiscal regime.

Table of Contents

1 Executive Summary

2 The New Zealand Mining Industry – Governing Bodies

2.1 Ministry of Business, Innovation and Employment (MBIE)

2.2 New Zealand Petroleum and Mineral (NZP&M)

3 The New Zealand Mining Industry – Governing Laws

3.1 Crown Mineral Act 1991

3.2 Crown Minerals (Minerals Other than Petroleum) Regulations 2007

3.3 Crown Minerals (Mineral Fees) Regulations 2006

3.3.1 Annual fee payable under prospecting permit

3.3.2 Annual fee payable under exploration permit

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

3.3.4 Annual fee payable under a mining permit

3.4 Mineral Mining Tax Rule

4 The New Zealand Mining Industry – Mining Permits

4.1 Prospecting Permit

4.2 Exploration Permit

4.3 Mining Permit

5 The New Zealand Mining Industry – Key Fiscal Terms

5.1 Royalty

5.2 Corporate Income Tax

5.3 Capital Gain

5.4 Withholding Tax

5.5 Depreciation Rates

5.6 Loss Carry Forward

5.7 Goods and Service Tax

6 The New Zealand Mining Industry – Future Development

7 Appendix

7.1 Abbreviations

7.2 Methodology

7.3 Secondary Research

7.4 Primary Research

7.5 Contact GlobalData

7.6 About GlobalData

7.7 GlobalData’s Services

7.8 Disclaimer

List of Tables

Table 1: The Mining Industry in New Zealand – Fiscal Regime Terms and Other Taxes (%), 2015

Table 2: The Mining Industry in New Zealand – Withholding Tax (%), 2015

Table 3: The Mining Industry in New Zealand – Depreciation tax (%), 2015

List of Figures

Figure 1: The Mining Industry in New Zealand – Commodity Mines at Different Stages (Number of Mines), 2015

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