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Why don't gold & silver mining operations pay royalties for metals mined from US owned land? The price of gold is sky high.

This just doesn't make any sense to me. If someone removed gold from YOUR land wouldn't you want a piece of the pie?

 
yourspecialkid

Asked by yourspecialkid at 2:58 PM on May. 18, 2011 in Politics & Current Events

Level 35 (74,634 Credits)
This question is closed.
Answers (13)
  • You won't hear anything about it either, ysk, until it becomes 'big gold', or 'big silver'. Then, they will be hated and deemed an enemy to the people. (like 'big oil')
    jesse123456

    Answer by jesse123456 at 9:05 PM on May. 18, 2011

  • Harry Reid of Nevada receives in excess of $750,000 in campaign contributions to see that mineral extraction from public lands is royalty free. Not so for oil or gas. Reid is another example of why we need term limits for reps and senators.
    annabarred

    Answer by annabarred at 3:21 PM on May. 18, 2011

  • http://www.foxnews.com/politics/2011/05/18/minerals-mined-federal-land-spared-taxes-aided-senator-reid/
    annabarred

    Answer by annabarred at 3:26 PM on May. 18, 2011

  • http://en.wikipedia.org/wiki/General_Mining_Act_of_1872


    any help?


    I think you have to explore state by state the precious metals mineral rights laws and clauses with respect to real estate purchases or public land leases or even temporary mineral rights purchases.

    jewjewbee

    Answer by jewjewbee at 3:23 PM on May. 18, 2011

  • that's a great article annabarred.
    Most people don't think about minerals rights until they find out, they don't own what's underneath their own house.
    jewjewbee

    Answer by jewjewbee at 3:29 PM on May. 18, 2011

  • I wasn't aware of the current controversy, I've been very busy this week. As we learn more about people like Arnie and Reid this week, it's only adds to the previous speculation that with politicians there is simply too much below the surface to understand why they do what they do and just who they are all tied with.
    As I had said months ago, whenever you have a new industry come to town, ya better check what politicians are tied to it and who is benefitting from the profits. Reid is basically letting our land be raped for his profit, where's the GREEN in that? Oh yeah, it's in his pocket Where's the EPA involved with gold mining? Certainly not like it is with coal or gas mining.
    jewjewbee

    Answer by jewjewbee at 3:35 PM on May. 18, 2011

  • they would have to wouldn't they, if you owned the minerals rights?
    jewjewbee

    Answer by jewjewbee at 3:04 PM on May. 18, 2011

  • Hmmm, doesn't make sense to me either. I can't wait to see some other answers.

    QuinnMae

    Answer by QuinnMae at 3:05 PM on May. 18, 2011

  • I thought each real estate deal contained a clause regarding mineral's rights? It's possible to buy in some states like Montana if I remember correctly and have the previous owners still hold the rights. And have it passed to family members in wills FOREVER.
    jewjewbee

    Answer by jewjewbee at 3:07 PM on May. 18, 2011

  • annabarred knew exactly what I was talking about! It is beyond ridiculous that the US is getting NOTHING for the metals mined from public lands. They get plenty in royalties from the oil, gas and coal industries.
    yourspecialkid

    Comment by yourspecialkid (original poster) at 3:29 PM on May. 18, 2011

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