Victorian Numbered Acts

MINES (ALUMINIUM AGREEMENT) (BROWN COAL ROYALTIES) ACT 2005 (NO 90 OF 2005) - NOTES

Act No. 90/2005

Victoria

No. 90 of 2005

Mines (Aluminium Agreement) (Brown Coal Royalties) Act 2005^[†]

[Assented to 29 November 2005]

Preamble

The State and Alcoa of Australia Pty Ltd ("Alcoa") entered into an agreement on 22 November 1961 with respect to the establishment of an industrial facility to produce aluminium products.

The agreement was ratified, validated, approved and otherwise given effect to by the Mines (Aluminium Agreement) Act 1961.

Among other things, the agreement—

(a) identified a certain area of land as the "leased area"; and

(b) gave Alcoa an exclusive right to use any coal won from the leased area; and

(c) specified the rate at which royalties were to be paid by Alcoa in respect of the coal.

It is expedient to amend the Mines (Aluminium Agreement) Act 1961 to specify a new rate of royalties payable by Alcoa in respect of any lignite (otherwise known as brown coal) taken by Alcoa from the leased area.

The Parliament of Victoria therefore enacts as follows:

^[†]     Minister's second reading speech—

    Legislative Assembly: 5 October 2005

    Legislative Council: 25 October 2005

    The long title for the Bill for this Act was "to amend the Mines (Aluminium Agreement) Act 1961 to make provision with respect to royalties for lignite and for other purposes."