(1) A mineral is:
(a) any of the following naturally occurring substances that is obtainable by mining:
(i) an inorganic element or compound (for example, an inorganic carbonate compound);
(ii) an organic carbonate compound; or
(b) coal, lignite, oil shale or salt; or
(c) another substance prescribed by regulation.
(2) However, none of the following is a mineral:
(a) an extractive mineral;
(b) petroleum as defined in section 5(1) of the Petroleum Act ;
(c) water;
(d) another substance prescribed by regulation.