MINERALS RESOURCE RENT TAX ACT 2012 [ REPEALED]
A production right is:
(a) an authority or right (however described) under an * Australian law to extract a * taxable resource from a particular area in * Australia ; or
(b) if an authority or right (however described) under an Australian law is not required to extract a taxable resource from a particular area - an interest in an area in * Australia that allows a person to extract a taxable resource from the area.
The following are some examples of production rights:
(a) a mining lease; (b) a mining lease subject to environmental approval; (c) a mining licence.
However, an * exploration right is not a production right .
An exploration right may give rise to a pre-mining project interest: see section 70-25 .
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