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Tuesday 8 December 2015

New report sheds light on the USs Mining Fiscal Regime: H2 2015

Posted on 03:06 by Unknown
Synopsis
Timetrics the US fiscal regime report outlines the role of governing bodies, laws, licenses, rights and obligations, as well as tax-related information on 10 commodities: coal, iron ore, copper, lead, zinc, gold, silver, nickel, platinum and uranium.


Summary
Timetric fiscal regime report covers the US, where federal and state bodies and laws have separate roles and responsibilities with regards to resource exploration and development. Mineral resources, for example, are owned by the state or federal governments rather than private individuals. The Department of Interior, Office of Surface Mining Reclamation and Enforcement, Mine Safety and Health Administration and the Environmental Protection Agency are the main governing bodies. Mining Law 1972 and the Surface Mining Reclamation and Enforcement Act (SMRCA) are apex laws.

Scope
The report outlines governing bodies, governing laws, mining ownership licenses, rights and obligations and key fiscal terms which includes, bonus, rentals, federal reclamation fee, occupation tax, royalty, mining claim fees, state fees, state mineral resources severance tax and fees, state real property tax, corporate taxes, alternative minimum tax, deductions and allowances, depreciation, branch profit tax, withholding tax and loss carry forward.

Reasons To Buy
Gain an overview of the US's mining fiscal regime

Key Highlights
The US Department of Interior is a cabinet-level agency responsible for managing the countrys vast natural and cultural resources


The Division of Minerals in Nevada is responsible for the production and exploration of minerals and maintaining information regarding annual mine production.

The Surface Mining Control and Reclamation Act (SMCRA) ensure cooperation between the state and the Secretary of the Interior with respect to the regulation of surface coal mining operations, and the acquisition and reclamation of abandoned mines.

The Mining Law 1872 promotes the development of mining resources in the US.

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