EARTHWORKS

Factoid # 1: Want Some Fries With That Gold Mine?

Factoid # 1: Want Some Fries With That Gold Mine?
1872 Mining Law Fact #1

Published: March 5, 2003

Download this publication

For less than the cost of a hamburger lunch, multinational mining companies acquire vast acres of public land rich in precious metals like gold, silver and copper.

That's because mining companies can buy public lands for $2.50 to $5.00 per acre under the 1872 Mining Law. At these fast food prices, mining companies have so far bought public land equal in size to the entire state of Connecticut. In 1994, this 19th century law allowed Toronto's Barrick Resources to purchase the Goldstrike Mine in Nevada for about $9,765. That mine is now worth $10 billion -- a difference of $9,999,990,235!

Tagged with:

On Twitter

"@EPAoig to Senator @JimInhofe: Sorry, yes, we will be looking into #fracking & water safety" | @coindependent bit.ly/1uB1Kf6
Wonder what they're afraid of? @EPAoig refuses Republican demand to stop investigation of @EPA #fracking regulation bit.ly/1pxVL9v

On Facebook