The Minerals Development Bill passed all stages of debate in both the Dáil and Seanad and was enacted on July 26th 2017 and was the subject of constructive debate in both Chambers.
This Act will provide for:
- The regulation of prospecting for and development of minerals;
- A statutory vesting of the exclusive right to work minerals in the Minister for Communications, Climate Action and Environment, subject to the payment of compensation;
- Compulsory acquisition of other rights necessary for efficient development of minerals, subject to payment of compensation;
- The payment to the State of rents and royalties from the extraction of minerals; and
- Preparation and implementation of rehabilitation plans for abandoned mine sites.
The Act is a consolidation of six earlier pieces of legislation dating from 1940 to 2006. It provides clear regulatory and fiscal frameworks for exploration, mining and mine closure and will contribute to Ireland’s already high standing as an attractive destination for minerals related investment.
The Act is available for download here.