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U.S Lawmakers Considering Changing Gold Mining Law to Generate Federal Revenue
Dec. 13, 2012 11:09AM PST
Precious Metals InvestingMining Weekly reported that a recent study suggests that changing a 19th century law in which taxpayers receive no royalties on metals pulled from federal land (including precious metals like gold) may inject much-needed cash into U.S. federal coffers.
Mining Weekly reported that a recent study suggests that changing a 19th century law in which taxpayers receive no royalties on metals pulled from federal land (including precious metals like gold) may inject much-needed cash into U.S. federal coffers.
As quoted in the market report:
But applying a metals levy of 12.5% – the benchmark government share for other resources – could deliver hundreds of millions of dollars a year to taxpayers, according to independent studies and US Representative Raul Grijalva, who sought the report and other data from the mining industry.
