http://www.miningweekly.com/page/americas-home
TORONTO (miningweekly.com) – Twenty US legislators had this week introduced a Bill in the House of Representatives looking for reforms to the General Mining Act of 1872, proposing higher royalties for mining companies.
The Bill suggests that mining companies be charged a royalty of 8% on new mines and 4% on existing properties for mining on public land.
The Bill was introduced on Thursday by the US House of Representatives natural resources committee member Peter DeFazio and subcommittee on public lands and environmental regulation member Raul Grijalva.
For over 140 years, the federal government has allowed mining companies to extract hundreds of billions of dollars’ worth of valuable publically owned minerals from public lands without paying American taxpayers a single dime.
The 1872 Mining Law was signed into law by President Ulysses Grant. Originally intended to spur the nation’s westward expansion, the nineteenth-century statute still governs the extraction of hard-rock minerals on over 350-million acres of public lands in the western US.
“Adding insult to injury, the current law has allowed these mining companies – many of them foreign owned – to carve up our lands and abandon the toxic, hazardous mess for taxpayers to clean up.