Mines and Minerals (Amendment) Act, 2006

3. Section sixty-six of the principal Act is amended- (a} by the deletion of subsection (1) and the substitution therefor of the following subsection: (1) The holder ofa mining licence shall, in accordance with the licence, this Act and the terms of any relevant development agreement, pay to the Republic a royalty on gross value of minerals produced under the licence at the rate of two per centum except that in the case of a company holding a large scale mining licence issued under section twenty-three and carrying on the mining of base metals, the rate shall be zero point six per centum. Cap213 (b) by the insertion after subsection (1) of the following new subsection: (2) Subject to section sixty-seven_tbe mineral royalty payable under this section is due and payable within fourteen days after the end of the month in which the sale of minerals is done; and (c) by the re-numbering of subsections (2) and (3) as subsection (3) and (4) respectively.

4. The principal Act is amended by the insertion immediately after section sixty-six of the following new section:

66A. Every person required to pay mineral royalty under section sixty-six shall submit monthly mineral royalty returns in the prescribed form containing such particulars as may be required by the Commissioner-General within fourteen days after the end of the month in which the sale of the minerals is done. Insertion of new section 66A Mineral royalty returns