From 1855, colonial parliaments legislated for ownership of minerals to be retained by the Crown in future grants of freehold title.
However, despite the fact that the Constitution of Australia does not list minerals as an area over which the Federal Parliament has jurisdiction, a number of the Commonwealth Parliament's powers encompass matters relevant to mining operations and any legislation of the Commonwealth based upon these powers will override any inconsistent State legislation.
In addition, the Corporations Act 2001 and the Australian Stock Exchange Listing Rules contain special provisions governing the conduct and reporting requirements of mining companies.
As early as the sixteenth century, the common law has held that all gold and silver, whether situated on public or private land, has been owned by the Crown.
[6] However, the principle of the owner of land owning the minerals within it has been virtually abolished by statute in Australia [citation needed].
In respect of titles granted prior to the legislation, the owner of the land retained ownership of the minerals (except the Royal metals of gold and silver).
They have been most extensively used in West Australia, where a high proportion of large mining projects continue to operate under such arrangements.