Pew report blasts 1872 Mining Act

The Pew Campaign for Responsible Mining released their critique of the 1872 Mining Law yesterday, "Reforming the U.S Hardrock Mining Law of 1872: The Price of Inaction."

The report calls for changes in the law that would raise more than $1.6 billion from royalties and fees on mining on public lands:

• Royalties over 10 years fro gold, uranium and other metals = $400 million
• Reclamation fees similar to those on coal to clean up abandoned mines, over 10 years = $290 million
• Elimination of tax deductions over 10 years = $1 billion