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Income Tax Act 2007

Income - Income from mineral mining - Definitions

CU 8: Meaning of listed industrial mineral

You could also call this:

“Definition and management of key minerals for New Zealand's industry”

A listed industrial mineral is a special type of mineral that’s important for New Zealand. There’s a long list of these minerals, like alumina, copper, gold, and many others. The list also includes some types of clay and sand that are used to make specific products.

The Minister can add new minerals to this list. When they’re thinking about adding a new mineral, they look at how important it might be for New Zealand’s industries, if it can help reduce the need to import minerals from other countries, or if New Zealand could export it.

If the Minister decides to add a new mineral to the list, they need to tell everyone about it officially. This announcement is called secondary legislation, which means it’s a type of law that supports the main law. You can find out more about how this works in Part 3 of the Legislation Act 2019.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1512994.

Topics:
Environment and resources > Farming and fishing
Business > Industry rules
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“Definitions of key terms for mineral mining assets and rights”

Part C Income
Income from mineral mining: Definitions

CU 8Meaning of listed industrial mineral

  1. Listed industrial mineral—

  2. means alumina minerals (for example, bauxite, corundum, diaspore, and gibbsite), aluminous refractory clays containing over 30% alumina in the fired state, aluminous refractory fireclays containing over 30% alumina in the fired state, andalusite, antimony, asbestos, barite, bentonite (except bentonite mined in the area formerly known as Malvern County), bituminous shale, chromite, copper, diatomite, dolomite, feldspar, fluorite, gold, halloysite, kaolin, kyanite, lead, magnesite, manganese, mercury, mica, molybdenite, nickel, perlite, phosphate, platinum group, pyrite, silica in lump form used only in producing silicon carbide or silicon metal or ferro silicon, silica in sand form used only in producing silicon carbide, sillimanite, silver, sodium chloride, sulphur, talc, tin, titanium, titanomagnetite, tungsten, uranium, wollastonite, zeolite, zinc, and zircon:
    1. includes a mineral that is declared to be an industrial mineral in a notice given by the Minister.

      1. Before giving a notice about a particular mineral, the Minister must consider whether the mineral is or is likely to be of importance—

      2. in the industrial development of New Zealand:
        1. as a means of reducing the quantity of industrial minerals or industrial rock required to be imported into New Zealand:
          1. as an item of export from New Zealand.

            1. A notice under subsection (1)(b) is secondary legislation (see Part 3 of the Legislation Act 2019 for publication requirements).

            Notes
            • Section CU 8: replaced, on (applying for the 2014–15 and later income years), by section 14(1) of the Taxation (Annual Rates, Foreign Superannuation, and Remedial Matters) Act 2014 (2014 No 4).
            • Section CU 8(1)(b): amended, on , by section 3 of the Secondary Legislation Act 2021 (2021 No 7).
            • Section CU 8(2): amended, on , by section 3 of the Secondary Legislation Act 2021 (2021 No 7).
            • Section CU 8(3) heading: inserted, on , by section 3 of the Secondary Legislation Act 2021 (2021 No 7).
            • Section CU 8(3): inserted, on , by section 3 of the Secondary Legislation Act 2021 (2021 No 7).