Mineral Royalties Would Undermine US Mining Industry
Ted Stevens. Sen. Ted Stevens of Alaska is a member of the Senate Appropriations Committee's Interior subcommittee., The Christian Science Monitor
WHAT you hear is not necessarily what you'll get, despite the Clinton administration's recent decision not to seek congressional approval of a 12.5 percent mineral royalty in the federal budget.
The White House continues to say it's committed to mining-law reform over the long haul. As an advocate of drastic change in current mining law - changes that would include royalties and an increased fee structure - the new administration should review the history of the mining industry. As early as 1807, a 10 percent royalty on lead production was established. It was later reduced to 6 percent. Even so, by 1835, neither miners nor smelters could pay the royalty. Production …
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Publication information: Article title: Mineral Royalties Would Undermine US Mining Industry. Contributors: Ted Stevens. Sen. Ted Stevens of Alaska is a member of the Senate Appropriations Committee's Interior subcommittee. - Author. Newspaper title: The Christian Science Monitor. Publication date: April 13, 1993. Page number: 19. © 2009 The Christian Science Publishing Society. Provided by ProQuest LLC. All Rights Reserved.
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