In a move likely to be welcomed by the mining and resources industry in Australia, and potentially Canadian and other companies looking to explore in Australia, on September 3, 2013, the then Australian Shadow Minister for Energy and Resources, Ian Macfarlane, announced the then Australian opposition’s commitment to introduce an Exploration Development Incentive benefiting exploration companies.
On August 23rd, Fish and Wildlife Service (FWS) and National Marine Fisheries Service (NMFS) jointly issued a final rule requiring draft economic impact analyses to be issued along with proposed critical habitat designations, limiting the types of economic impacts that may be considered when making such designations.
Earlier this year, New York Governor Andrew Cuomo announced that the State would be creating a Green Bank to leverage private sector financing for renewable and other related clean energy projects. The Green Bank was identified in the Governor’s State of the State address as a key component to growing the State’s clean energy economy.
To promote use and development of energy storage technologies, FERC recently revised its market-based rate regulations, OATT ancillary services requirements, and accounting and reporting requirements.
In Quebec, as elsewhere in Canada, net smelter return (NSR) and similar royalties are often granted, along with cash and/or share consideration, to sellers in mining property option transactions. Recently, the Quebec Court of Appeal provided a reminder in Anglo Pacific Group PLC v. Ernst & Young Inc. (“Anglo Pacific”) of the complexity of creating enforceable NSR royalties in Quebec.