U.S Lawmakers Considering Changing Gold Mining Law to Generate Federal Revenue

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.

To view the whole Mining Weekly report, click here.