Bill Seeks to Hasten US Mining Review Process

The Canadian Press reported that on Wednesday, Republicans in the US House pushed through a bill aimed at speeding up the governmental review process for gold, silver, copper and uranium mining on federal land. If passed in the Senate, the bill will make it harder for opponents to legally oppose new ventures and will put in place “a 30-month timeline for environmental reviews.”

As quoted in the market news:

Supporters said the bill would help create jobs by cutting back waiting periods for new ‘hard-rock’ mining projects that can stretch up to 10 years. The bill would give U.S. officials discretion to waive federal environmental reviews and accept state reviews instead. It also sets a 60-day limit to file legal challenges.

Opponents called the bill a giveaway to the mining industry and an environmental disaster.

The House approved the bill, 246-178. Fifteen Democrats supported the bill. No Republicans opposed it. The measure is expected to die in the Democratic-run Senate.

Click here to read the full report from The Canadian Press.