MINERALS RESOURCE RENT TAX ACT 2012 [ REPEALED]
A pre-mining project interest is an interest in an * exploration right . 70-25(2)
However, if the * exploration right relates both to iron ore and to other kinds of * taxable resources , treat the * pre-mining project interest as:
(a) a pre-mining project interest relating to iron ore; and
(b) another pre-mining project interest relating to those other kinds of taxable resources. 70-25(3)
An exploration right is an authority or right (however described) under an * Australian law for a purpose (other than an incidental purpose) of * exploration or prospecting for * taxable resources in a particular area in * Australia .
The following are some examples of an exploration right:
(a) a mineral development licence;
(b) a retention lease;
(c) an exploration permit. 70-25(4)
The project area for a * pre-mining project interest is the area in * Australia covered by the * exploration right to which the pre-mining project interest relates.
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