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Part B: Mineral Rights - Part B-6: Beneficiation - Processing, Trade & Transport - 35. Beneficiation – Processing, Trade and Transport | 35.8 Price Transparency

In the interest of promoting price transparency and greater consistency in the pricing of raw and processed development minerals and transport services, the Regulating Authority may be authorised to regularly publish aggregate price data (high low and average per unit volume during the reporting period) for types and qualities of such minerals and processed mineral products, as well as aggregate price data for the transport of raw and processed development minerals between major quarry sites and processing plants or usage centres. Such price information would be based on transaction prices reported to the Regulating Authority by licence holders (under Obligations, above) and/or surveys conducted by the Regulating Authority.

35.8 Example:

Article [_]

(1) Within [12 months] after the date when this [Act][Code][Law] enters into effect, the [Regulating Authority]shall develop the capability to regularly publish periodic data on the pricing of:

(a) sales of different types of raw development minerals with similar characteristics,

(b) sales of different types of processed development minerals with similar characteristics, and

(c) services for the transport of raw and processed development minerals between major sources of supply of such minerals and product and major centres of usage (processing plants, major construction sites, major infrastructure projects)

(2) The data referred to in subsection (1) shall be developed from information reported by the holders of licences for Authorised Processing Facilities, Authorised Trader/Dealers and Authorised Transporters and from surveys conducted by or on behalf of the [Regulating Authority].

(3) The data to be published will be anonymous and will list high, low and average unit prices for each type and quality of development minerals or mineral products for which data is available.

(4) The [Regulating Authority] shall publish the pricing data on its official website, or on a dedicated site for which there is a clearly identified and functional link on the [Regulating Authority]’s official website and shall update the information regularly and promptly after it receives the inputs for the data. Such information shall also be published in a newspaper of wide circulation in the licensing jurisdiction.

Annotation

The example instructs the Regulating Authority to develop the capability to regularly publish pricing data relevant to the development minerals industry and its clientele within, for example, twelve months after the legislation enters into effect. There will have to be a lead time in order for the Regulating Authority to receive and compile data from the reports of licensees, and to develop an appropriate publishing format.

The data to be published will depend on what is submitted by the licence holders. It is probable that there will be sufficient pricing data points to warrant publication of prices for some but not all types of development mineral products.

The pricing data must be aggregated for all development minerals or products with similar characteristics. The published information will not disclose the identities of buyers or sellers. It will be anonymous.

The pricing data should be published on the official website of the Regulating Authority, or on a dedicated website reachable by link from the official website, in order to facilitate easy accessibility for the public. Such information should also be published in a widely circulating newspaper which will be beneficial especially to those with limited internet connectivity.