Reform of 1872 law would make Barrick, Newmont pay federal mineral royalties

The federal law designed to promote gold mining in the West was enacted by President Ulysses S. Grant in 1872, and it has remained mostly unchanged ever since.

The General Mining Act of 1872 allows miners to obtain the rights to mine billions of dollars worth of gold, silver, copper and other minerals found in “hard rock” from federal lands without paying federal royalties.

Now there’s a bill for that.

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