Mining Law Revision Introduced

The American Geological Institute reports: 
"The Chairman of the House Natural Resources Committee, Nick Rahall(D-WV)
introduced a broad package of reforms to the 1872 Mining Law on May 11, 2007
[the 135th anniversary of the legislation]. The Hardrock Mining and Reclamation
Act of 2007 (H.R. 2262) would eliminate patents and impose an 8 percent net
smelter return royalty on hardrock minerals, identify federal lands that would
not be open to mining, establish environmental standards for mining activity,  
limit permits to 10 years and make any company that violates the environmental standards   [above, Bagdad copper
               mine,copyright @ Michael Collier]
ineligible for new permits until they reach compliance, establish a mine reclamation fund from royalty revenues,
and established public participation guidelines, including inspection and enforcement of requirements plus the
ability for citizens to sue if companies violate these rules. The measure would also change the outdated provision
of selling federal land for $2.50 or $5.00 per acre. Congress has annually placed a moratorium on such sales
for more than a decade."

The full text of the legislation is available at: http://thomas.loc.gov/cgi-bin/bdquery/z?d110:h.r.02262: