Mining royalties proposed; Obama's budget includes provision for royalties on minerals

摘要

PRESIDENT OBAMA'S budget proposal includes a provision that would charge a royalty to mine certain hardrock minerals. The provision is part of Obama's annual budget proposal for the U.S. Department of Interior for fiscal 2012, which along with similar proposals for other U.S. government agencies, must be approved by both houses of Congress.As part of the effort to increase government revenues, the budget proposes charging a royalty on "select hardrock minerals," such as silver, gold and copper. Mineral developments on federal lands currently are not subject to loyalties.