Monday, March 14, 2011

Nevada budget woes - more taxes on mining, huge cuts to geological survey

Things are tough in Nevada. State Geologist Jon Price sent out an open letter to stakeholders of the Nevada Bureau of Mines & Geology yesterday calling for support to challenge a proposed 53% budget cut to the agency. I've also posted the full letter at our sister blog, "State Geologists."

Meanwhile, reports that the Nevada's chief tax collector was forced out after he revealed that his agency has not performed an audit of mining company tax payments in two years. There is a passionate debate in that state over increasing taxes on mining and this news on compliance did not go over well.

Nevada was the #1 mineral producing state in the nation in 2010, with production of $7.55 billion, equal to 11.8% of total U.S. mineral production. [right, reverse of one of the 100 one-ounce gold coins that were struck to commemorate the fifty millionth ounce of gold production from the Carlin trend. Photograph provided by Ronald D. Lewis, Great Western Mint, Orem, Utah.]

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