Biden plan would overhaul 151-year-old mining law, make companies pay royalties for copper and gold


white house worthy christian news

(Worthy News) – The Biden administration is recommending changes to a 151-year-old law that governs mining for copper, gold and other hardrock minerals on U.S.-owned lands, including making companies for the first time pay royalties on what they extract.

A plan led by the Interior Department also calls for the creation of a mine leasing system and coordination of permitting efforts among a range of federal agencies. This comes as The White House has been pushing to boost domestic mining for minerals needed for electric vehicles, solar panels and other clean energy.

Under terms of an 1872 law, the U.S. does not collect royalties on minerals extracted from federal lands, a fact Democratic lawmakers and environmental groups have long lamented. The White House plan would impose a variable 4% to 8% net royalty on hardrock minerals produced on federal lands. The proposal needs approval by Congress – unlikely when the House is controlled by Republicans who have long opposed such fees. [ Source: Washington Times (Read More…) ]

We're being CENSORED ... HELP get the WORD OUT! SHARE!!!
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Worthy Christian News