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By David L Ganje
Special to Mining News 

Beware effects of federal mining royalty

Proposed legislation to rewrite original 1872 mining law could shortchange local, state economies in the name of curbing U.S. debt

 

Last updated 1/27/2013 at Noon



A new federally collected royalty (read tax) on hardrock mining has recently been proposed as a part of Congress' solution to fix the national debt and manage the mining industry. A bill co-sponsored by U.S. Rep. Raul M. Grijalva, D-Ariz., would set a 12.5 percent royalty rate on the value of certain hardrock minerals on public lands.

This proposal would rewrite the original 1872 mining law in...



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