Mining Law of 1872

That pesky Mining Law of 1872 is back in the news. House Natural Resources Chairman Nick Rahall (D-W.Va.) is once again seeking to overhaul the General Mining Law of 1872. According to a recap on Resources Investor, Rahall's new bill would impose an 8 percent royalty on cerain minerals taken from public lands. In addition, It would establish an environmental standard for mining on federal land and require companies to have an operations plan, a reclamation plan and evidence of financial assurances to carry them out. It would limit an operations permit to 10 years, subject to renewal, and mandate that land be restored to a condition capable of prior uses. The bill also would establish a fund to reclaim land and water resources affected by past mining and a fund to assist mining communities. It would set forth inspection and enforcement requirements and allow citizen lawsuits to enforce them. The bill also identifies categories of federal lands off-limits to mining. Your comment?