Mining's Future Looks Good in an Obama Administration, but So-So in Congress

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The Obama presidency may also portend good fortune for hardrock miners. The Associated Press reported late last year that Obama opposes the Hardrock Mining and Reclamation Act of 2007 on the ground that it places a significant burden on the mining industry and also would have an adverse impact on jobs.

U.S. mining would have fared well with the election of either Senator Barack Obama or Senator John McCain as president, thanks to considerable groundwork by mining companies and their associations...

The Obama presidency may also portend good fortune for hardrock miners. The Associated Press reported late last year that Obama opposes the Hardrock Mining and Reclamation Act of 2007 on the ground that it places a significant burden on the mining industry and also would have an adverse impact on jobs.

Now stalled in the Senate, the Hardrock Mining and Reclamation Act would impose a gross royalty on mining on federal lands. AP reported that Obama opposes the section of the bill that would impose royalties of 4% of gross revenue on existing hardrock mine, and an 8% gross-revenue royalty on new mines...

National Mining Association Senior Vice President Carol Ralston told Mineweb Tuesday that miners recognized mining states were going to be battleground states. Mining companies and their associations "worked very hard with both campaigns" to improve understanding of three key policy areas: energy policy (such as carbon capture and storage R&D); minerals policy (including mining law reform and abandoned mined lands; and mine safety...

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