Taxes Consolidation Act 1997 section 672

Interpretation (sections 672 to 683)

Section 672 defines key terms used throughout the mining taxation provisions, including "qualifying mine", "development expenditure", "exploration expenditure", and "scheduled minerals".

• A qualifying mine is one worked to obtain any of 14 scheduled minerals (including ores of lead, zinc, gold, silver, copper and iron, as well as barytes, felspar, quartz rock, serpentinous marble, soapstone and molybdenum ore), and mining capital allowances in sections 673–683 are built around these definitions.
• Development expenditure covers capital spending on developing a qualifying mine or constructing works that will have little or no value when the mine closes, including interest on borrowings, but excludes site acquisition costs, the cost of acquiring mineral deposits, and works for further processing of the raw product beyond initial preparation.
• Exploration expenditure covers capital spending on searching in the State for scheduled mineral deposits, testing them, and winning access to them, including systematic searching by drilling or other means, but excludes expenditure on working an operational mine or expenditure that qualifies as development expenditure.
• Expenditure does not qualify for allowances to the extent it has been or will be met by State funds or by any person other than someone who has carried on the trade of working that mine, and the Minister for Finance may by regulation add minerals to the scheduled list subject to Dáil Éireann approval.