Gold royalty law?

[digbird]

A 151 year old law may change.

Currently there is no law on royalties from the gold and copper extracted on Federal Land in the USA.

One of the few countries that doesn't have that sort of system. Currently it is more like a lease hold.

https://www.msn.com/en-ca/travel/new...f64c4e80&ei=35

We have a royalty program up here in Canada, but I'd like to see a few changes. Right now royalty fees go into general revenue. I'd like to see the companies pay in gold ingots that the Treasury can tuck away. Copper mines could elect to send in silver ingots as most copper mines end up with silver as a by-product. Just my 2 cents.

If you reply and share your thoughts, please don't turn this into a Biden/Trump political drama.

Do these minerals and precious metals belong each person in the host country? I'd say yes they do.

[vertical1]

The federal law governing locatable minerals is the Mining Law of 1872 (May 10, 1872), which declared all valuable mineral deposits in land belonging to the United States to be free and open to exploration and purchase.


Under fire but, still stands. I had some claims on Split Estate turf....a logistic quagmire

[LongDonSilver]

Under New York State law since the 1700's, all gold found in the state of New York belongs to the state of New York. Period. So finding a gold mine in NY is about as rare as unicorns.

See: https://raregoldnuggets.com/?p=329

[digbird]

Thanks for the input LongDon.

Sounds like they are trying to update really old laws or statutes.

[t00nces2]

A 151 year old law may change.

Currently there is no law on royalties from the gold and copper extracted on Federal Land in the USA.

One of the few countries that doesn't have that sort of system. Currently it is more like a lease hold.

https://www.msn.com/en-ca/travel/new...f64c4e80&ei=35

We have a royalty program up here in Canada, but I'd like to see a few changes. Right now royalty fees go into general revenue. I'd like to see the companies pay in gold ingots that the Treasury can tuck away. Copper mines could elect to send in silver ingots as most copper mines end up with silver as a by-product. Just my 2 cents.

If you reply and share your thoughts, please don't turn this into a Biden/Trump political drama.

Do these minerals and precious metals belong each person in the host country? I'd say yes they do.

I don't see it as a Biden/Trump thing, I am more inclined to see it as a government maturing into an oppressive, everything is ours and we will allow you to keep what we determine you are allowed to keep thing.

The fact. Is NY is covered by glacial deposits, so much of what you would normally find in exposed hard rich is covered by glacier lorraines. Much of the surface rocks are rocks from very far away and it would just be a stroke of luck to find a gold nugget in a hunk of transported quartz..

[digbird]

Thanks for all your views and replies folks.

[vertical1]

I kind of liked having the last vestibul of finders keepers. The old law worked...so seems the current mantra is...if it ain't broke fix it anyway.
I am not a proponent of that mantra. And as for the New York bit, well, states soveregnty should prevail as it apparently does in this instance....sorry for y'all
who are stuck in that taxation/control regulation cesspool

[marynugent]

Under New York State law since the 1700's, all gold found in the state of New York belongs to the state of New York. Period. So finding a gold mine in NY is about as rare as unicorns.

See: https://raregoldnuggets.com/?p=329 geometry dash lite

I agree with you