The Mining Act 1978 (the Act) defines a ‘Dealing’ as a transfer or mortgage of a legal interest in a granted mining tenement.
The Act and/or the Mining Regulations 1981, require prior written consent of the Minister for Mines and Petroleum, or an officer of the Department acting with the authority of the Minister, before a legal interest can be transferred or mortgaged, per section 82(1)(d) (mining leases); Regulation 36(c) (general purpose leases); and Regulation 41(c) (miscellaneous licences).
Ministerial consent is also required for exploration licences, (section 64(1)(b)) (with some exceptions), but only in the first year of its term. The transferee (incoming party) must provide a new statement per section 58 of the Mining Act but may agree to use the exploration programme submitted by the current holder.
Requests for Ministerial consent can be lodged online as an ancillary document through Mineral Titles Online (MTOL).
A caveat recorded on a mining tenement will prevent the registration of a dealing. The caveat will have to be removed or a Warden’s Order obtained, to register the dealing.
Transfers
Prior to lodging a transfer of a mining tenement, the Transfer Form(s) as well as any supporting agreement, must first be lodged with the Office of State Revenue for stamp duty assessment. This does not apply to transfers of prospecting licences where the transaction does not include any other mining tenement types.
Lodgement
A transfer of a mining tenement may be lodged by submitting the following documents through MTOL or at any Mining Registrar’s office:
- Transfer (Form 23) - a separate transfer form is required for each mining tenement (Regulation 75).
- Security (Form 32) – a separate security is required for each mining tenement, must be executed by the parties who will be holders of the mining tenement following the transfer. The amount of each security is $5,000 (Section 126; and Regulation 112).
- Certificate of stamp duty assessment from the Office of State Revenue for the relevant agreement (if applicable).
- Certificate of assessment for the transfer of the mining tenement.
- Copy of the letter confirming Ministerial consent to the transfer has been given.
Payment of the prescribed fee.
Note, if the mining tenement is encumbered by a mortgage, the transfer cannot be registered unless the mortgage is removed or the consent to the transfer is submitted by the mortgagee.
Mortgages
Mortgages are exempt from stamp duty and the Mortgage (Form 25) is not required to be submitted with the Office of State Revenue.
The following documents must be submitted through MTOL or at any Mining Registrar’s office.
- Mortgage (Form 25).
- Copy of letter confirming Ministerial consent to the mortgage has been given.
- Payment of the prescribed fee (multiple mining tenements may be included on the one form, the fee will be calculated per tenement).
