EARTHWORKS

Factoid # 8: But Wait, There's More: Exciting Bonus Offer Worth Billion$ From US Taxpayers

Factoid # 8: But Wait, There’s More: Exciting Bonus Offer Worth Billion$ From US Taxpayers
1872 Mining Law Fact #8

Published: April 1, 2003

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What would you expect to pay for precious metals like gold, silver and copper from public lands belonging to U.S. taxpayers?

Multinational mining companies have taken $245 billion worth of precious metals and minerals without paying a cent in royalties since the 1872 Mining Law went into effect 131 years ago. Considering coal, oil and gas companies pay royalties of 8% to 12.5%, it sounds like a pretty good deal.

But wait, it gets even better! What if we offered you the same tax break mining companies get-a tax break based on the declining value of these royalty-free minerals-worth $487 million over 5 years?

Before you answer, listen closely! Generous U.S. taxpayers are also throwing in exploration subsidies valued at $170 million over 5 years and abandoned mine clean-up worth $32 billion to $72 billion.

The total package is worth billions , exclusively for the hardrock mining industry. It's even better than the free bonus Ginsu knife set offer. ACT NOW!

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@Macbalacano *There* are benefits. Doh.
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