Mining Tax Proposal Could Hurt Wyoming Companies
Laramie, WY – A bill is expected to pass a US House committee next week that would tax certain kinds of minerals mined on public lands for the first time.
The director of the Wyoming Mining Association, Marion Loomis, says the state's Bentonite and uranium producers would be hurt by the tax of four percent of gross revenue.
If they did some kind of a net-proceed royalty, that would be more acceptable to the industry. At least you'd have to be making a profit before you'd be hit with a big royalty.
The bill would also add new environmental controls and allow local governments to ask the federal government to stop allowing mining on public lands. A full House vote on the measure could come before Thanksgiving.