Dealings in mineral titles and applications for mineral titles
Mineral titles in the Northern Territory (NT) can be transferred or devolved from the existing owner to a new owner. The title, whether granted or under application, must be in good standing.
A mineral title, and an application for a mineral title, can also be mortgaged or have agreements registered against them.
These transactions are commonly referred to as dealings.
A caveat is not a dealing under the Mineral Titles Act. Read more about caveats.
How to apply
You must apply to the department for any dealing in a mineral title or an application for a mineral title. You must also pay a fee.
The proposed new owner of the title must be able to prove they have the required technical and financial resources to undertake the existing work program and carry out any new activities.
They must also acknowledge existing expenditure commitments and agree to comply with the existing title conditions.
Forms and fees
You must use the correct form for any dealing in a mineral title, or an application for a mineral title, and pay the relevant fee. The fee applies to each mineral title affected by the dealing.
You must also pay stamp duty to NT Revenue on some transactions and can be fined if you do not.
The proposed new owner must meet the same criteria as if they were applying for the grant of a title. They must prove they have the required technical and financial resources to fund and undertake the existing work program.
They should search the register to confirm the mineral rights interest is in good standing, including reporting requirements. Request a title search by emailing email@example.com.
All of the following factors apply to a transfer of a mineral rights interest:
- it must be assessed by the NT Revenue Office for stamp duty before it is submitted to the department for approval
- all conditions on a title being transferred must have been substantially met before it can be approved
- you can ask the department to provide a notice of the approval of the transfer before it is registered
- you must pay the fee.
Once the transfer is registered, the new owner must comply with all grant conditions and expenditure requirements.
You do not need departmental approval for an agreement, but you must submit details to the department for registration using correct form (Approved Form 14 ) and relevant fees. A copy of the agreement is not required to be lodged with the department.
An agreement must be assessed by the NT Revenue Office for stamp duty before being submitted to the department.
Agreements can be registered against applications and granted mineral titles.
If the agreement is a joint venture, with the new partner earning equity, the equity must be registered through the transfer process once the equity is achieved.
The existing title holder continues to be responsible for ensuring the requirements of the Mineral Titles Act are met, regardless of what is in the agreement.
The department must register the agreement unless they know of reasons this should not happen.
You do not need departmental approval to register a mortgage against a granted title or an application for one, but you must submit it for registration in writing using the correct form and paying the relevant fees.
A copy of the mortgage must be submitted with the form. You do not have to pay stamp duty on a mortgage.
The department must register the mortgage unless they know of reasons this should not happen.
Devolution means changing the ownership of an interest in a mineral title when the current owner dies, is declared bankrupt, or goes into receivership or liquidation. Ownership then devolves, to a trustee or representative.
You must apply in writing to register the devolution using the correct form, and paying the relevant fee. You do not have to pay stamp duty.
In the case of a death, you must attach a copy of the grant of probate, along with a copy of the will or public trustee authority.
In the case of bankruptcy or company failure, you must attach a certified copy of appointment as liquidator or receiver.
Last updated: 18 December 2017