Tuesday, February 15, 2011
5% royalty proposed on new mines on federal lands
The federal budget proposal released yesterday includes a provision for a 5% royalty on minerals produced from new mines on federal lands. The New York Times report says this is viewed as a first step at changing mining to a leasing system similar to that for oil and gas resources.
This would be the first such royalties ever imposed.
[right, mining claims on federal lands, 2010. Credit, USGS]
at 10:49 AM