Section CU 25 — Income Tax Act 2007: Meaning of mining operations

CU 25 Meaning of mining operations Meaning (1) Mining operations means operations that— (a) are carried on by a mining company on a mining property in New Zealand for the purpose of deriving income; and (b) consist of— (i) exploring, searching, or mining for 1 or more specified minerals; or (ii) performing development work for exploring, searching, or mining for 1 or more specified minerals. Resident mining operators and non-resident mining operators (2) This definition applies to resident mining operators as if they were mining companies, and to non-resident mining operators as if they were mining companies, mining operations were mining ventures, and associated mining operations were mining ventures. Defined in this Act: associated mining operations , income , mining company , mining operations , mining venture , New Zealand , non-resident mining operator , resident mining operator , specified mineral , Compare: 2004 No 35 s CU 25