Article

2023-09-13 Economy

Biden plan would overhaul 151-year-old mining law, make companies pay royalties for copper and gold

WASHINGTON (AP) — The Biden administration is recommending changes to a 151-year-old law that governs mining for copper, gold and other hardrock minerals on U.S.-owned lands, including making companies for the first time pay royalties on what they extract.

A plan led by the Interior Department also calls for the creation of a mine leasing system and coordination of permitting efforts among a range of federal agencies. This comes as The White House has been pushing to boost domestic mining for minerals needed for electric vehicles, solar panels and other clean energy.

Under terms of an 1872 law, the U.S. does not collect royalties on minerals extracted from federal lands, a fact Democratic lawmakers and environmental groups have long lamented. The White House plan would impose a variable 4% to 8% net royalty on hardrock minerals produced on federal lands. The proposal needs approval by Congress — unlikely when the House is controlled by Republicans who have long opposed such fees.

Undeterred by such political reality, an interagency working group — led by Interior — touted the benefits of imposing royalties on about 750 hardrock mines on federal lands, mostly in the West. The figure does not include about 70 coal mines whose owners must pay federal royalties.

Posted by Besoeker 2023-09-13 05:53|| || Front Page|| [11134 views ] Top

#1 Taxing big business again are they? Of course we all know who eventually picks up that tab.

Posted by Besoeker 2023-09-13 06:00|| 2023-09-13 06:00|| Front Page Top

#2
IF it is PUBLIC LAND, why should the resources be given away for what is basically a permit fee and some campaign donations?

Why not require the collected $$$$ minus -25% (admin) and the rest returned the effected State and it's Citizens like Alaska Oil does ?

But with that said.
Remember the Federal Toe in the Door problem.
How long before We the People would be paying to pump our well water, grow or raise foods?

One last thing.
In all seriousness.
Given Biden's globally known limited and declining mental capacities.

How can we say BIDEN'S PLAN ____________?
Isn't it really the DC Swamp / Liberals, Socialists just looking for more Tax $$$$$$$ to spend or give away.

Posted by NN2N1 2023-09-13 08:11|| 2023-09-13 08:11|| Front Page Top

#3 I shudder at the thought of paying tax for my well water or growing/raising my food. Might be my red line.

Posted by Cleared Cookies Lost Nic 2023-09-13 08:53|| 2023-09-13 08:53|| Front Page Top

#4 My biggest surprise is that they're actually acknowledging that they need a change in the law from Congress rather than just imposing these fees by executive ukase.

Posted by Tom 2023-09-13 11:37|| 2023-09-13 11:37|| Front Page Top

01:46 Grom the Affective
01:33 Besoeker
01:22 Besoeker
00:59 Besoeker
00:48 Besoeker
00:40 Frank G