The 1872 Mining Act allows mining companies to develop mineral resources and encouraged settlement of underdeveloped western US territories. Under the law, no royalties are collected for gold, silver, uranium, diamonds, rare-earth elements or other non-energy minerals. Foreign companies are the main gold and uranium developers. The cost of environmental compliance for mine development and in many cases remediation after mining operations are abandoned is paid by the US DOI. Repeal of 1872 Mining Act will allow the 43CFR3809 regulation to be eliminated and appropriate royalties collected. The DOI BLM has the staff to manage these minerals under the Mineral Leasing Act. More information at http://www.bloomberg.com/news/2013-01-16/miners-may-pay-u-s-more-in-roya...



