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| Madam Speaker, I move that the bill now be read a second time. The bill makes minor consequential amendments to the Mining Act. These amendments are a result of the Commonwealth introducing legislation relating to mining royalties for uranium and other prescribed substances in the Northern Territory. The bill proposes to amend the Mining Act to ensure that existing provisions in the act dealing with prescribed substances support the Commonwealth’s new uranium royalty scheme. Unlike the other states, uranium in the Northern Territory is owned by the Commonwealth. Accordingly, royalties on this uranium are derived by the Commonwealth. It is important for there to be consistency between the Commonwealth and Territory legislation relating to royalties in respect of uranium mined in the Territory. This is because any inconsistency between the new Commonwealth legislation and the Territory legislation could render the Territory legislation inoperative to the extent of any inconsistency. The Mining Act makes provision for any Commonwealth agreement that relates to the payment of royalties on uranium. One aspect of the new Commonwealth scheme is that it is not to apply to the Ranger Mine and for the Commonwealth’s royalty agreement with Ranger to be grandfathered. Accordingly, the amendments reflect this position in the Territory’s legislation as well as acknowledge that the royalty arrangement for any new mines will be set by the Commonwealth’s Uranium Royalty (Northern Territory) Act 2009. Although the Minister for Primary Industry, Fisheries and Resources has general responsibility for the Mining Act these amendments form part of the royalty arrangements that apply in the Northern Territory which fall within my responsibilities as Treasurer. Nonetheless, these amendments have been prepared in consultation with the Department of Primary Industry, Fisheries and Resources. Madam Speaker, I commend the bill to honourable members and I table a copy of the explanatory statement to accompany the bill. Debate adjourned. |