Interest Rates for Mining Taxes & Fees

We determine interest rates for mineral land tax and the mine inspection fee on a quarterly basis each year. Here is an explanation of the table below.

Bank Rate

The interest rate posted by financial institutions for that month.

Receivable Rate (%)

The interest rate you are charged on your overdue balance.

Payable Rate (%)

The interest rate we use to credit interest if you made an overpayment.

Ending Period Bank Rate
(%)
Receivable Rate
(%)
Payable Rate
(%)
2020
31-Dec-20      
30-Nov-20      
31-Oct-20      
30-Sep-20   5.45 0.45
31-Aug-20   5.45 0.45
31-Jul-20   5.45 0.45
30-Jun-20   5.95 0.95
31-May-20 0.50 5.95 0.95
30-Apr-20 0.50 5.95 0.95
31-Mar-20 1.00 6.95 1.95
29-Feb-20 2.00 6.95 1.95
31-Jan-20 2.00 6.95 1.95
2019
31-Dec-19 2.00 6.95 1.95
30-Nov-19 2.00 6.95 1.95
31-Oct-19 2.00 6.95 1.95
30-Sep-19 2.00 6.95 1.95
31-Aug-19 2.00 6.95 1.95
31-July-19 2.00 6.95 1.95
30-June-19 1.75 6.95 1.95
31-May-19 1.75 6.95 1.95
30-Apr-19 1.75 6.95 1.95
31-Mar-19 1.75 6.95 1.95
28-Feb-19 1.75 6.95 1.95
31-Jan-19 1.75 6.95 1.95
2018
31-Dec-18 1.75 6.70 1.70
30-Nov-18 1.75 6.70 1.70
31-Oct-18 1.75 6.70 1.70
30-Sep-18 1.50 6.45 1.45
31-Aug-18 1.75 6.45 1.45
31-July-18 1.75 6.45 1.45
30-June-18 1.50 6.45 1.45
31-May-18 1.50 6.45 1.45
30-Apr-18 1.50 6.45 1.45
31-Mar-18 1.50 6.20 1.20
28-Feb-18 1.50 6.20 1.20
31-Jan-18 1.50 6.20 1.20
2017
30-Dec-17 1.25 6.20 1.20
30-Nov-17 1.25 6.20 1.20
31-Oct-17 1.25 6.20 1.20
30-Sep-17 1.25 5.70 0.70
31-Aug-17 1.00 5.70 0.70
31-July-17 1.00 5.70 0.70
30-June-17 0.75 5.70 0.70
31-May-17 0.75 5.70 0.70
30-Apr-17 0.75 5.70 0.70
31-Mar-17 0.75 5.70 0.70
28-Feb-17 0.75 5.70 0.70
31-Jan-17 0.75 5.70 0.70