How do you implement a mining royalty system?
Mining royalty is a payment to the owner of the mineral resource for the right to extract and sell it. It is one of the main ways that governments and communities benefit from mining activities. However, implementing a mining royalty system is not a simple task. It requires careful consideration of various factors, such as the type, rate, and base of the royalty, the impact on the mining industry and the economy, and the legal and administrative framework. In this article, you will learn about the main steps and challenges involved in designing and applying a mining royalty system.