United States (US) Mining Industry Fiscal Regime Analysis – Governing Bodies, Regulations, Licensing Fees, Taxes, Royalties, 2023 Update

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US Mining Industry Report Overview

The US has abundant and diverse natural resources, including extensive deposits of copper, gold coal, iron ore, and uranium. According to the US Geological Survey (USGS), mines in the US generated $98.1 billion (B) in minerals in 2022. This was primarily due to an increase in non-fuel mineral commodity consumption, as well as supply constraints and increased commodity prices.

The United States (US) mining industry report provides comprehensive coverage of the US’s mining fiscal regime. The report focuses on the mining fiscals’ key aspects such as governing bodies, laws and regulations, governance frameworks, and sustainability practices. The report also includes mining-related taxes and royalties.

Governing Bodies Bureau of Land Management

US Department of the Interior

Office of Surface Mining Reclamation and Enforcement

US Geological Survey (USGS)

Mine Safety and Health Administration (MSHA)

Key Laws The Mining Law, 1872

The Federal Land Policy and Management Act, 1976

Surface Mining Control and Reclamation Act, 1977

Mineral Leasing Act, 1920

National Environmental Policy Act, 1969

Taxes and Royalties Severance Tax

Corporate Income Tax (CIT)

Mining Taxes

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US Mining Industry - Governing Bodies

The US mining industry is governed and regulated by several authorities, which focus on aspects such as administration, environment, health, and safety. Some of the chief agencies include the Bureau of Land Management, US Department of the Interior, Office of Surface Mining Reclamation and Enforcement, US Geological Survey (USGS), and Mine Safety and Health Administration (MSHA) among others.

The Bureau of Land Management is the country’s primary natural resources governing body. States in the US have separate acts and regulations set up for the development of the mining industry. Various taxes are imposed both at federal and state levels, including corporate tax, mining reclamation fee, and occupation tax.

US Department of the Interior: The fun department is responsible for the conservation and management of the natural resources in the country. It also promotes energy security and critical minerals development.

Governing Bodies in US Mining Industry

Governing Bodies in US Mining Industry

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US Mining Industry – Mining Laws

The main laws governing the mining industry of the US are The Mining Law, 1872, The Federal Land Policy and Management Act, 1976, Surface Mining Control and Reclamation Act, 1977, Mineral Leasing Act, 1920, and National Environmental Policy Act, 1969 among others.

National Environmental Policy Act, 1969: The National Environmental Policy Act (with the latest amendments in 1982) establishes a national policy to encourage productive and enjoyable harmony between the people and the environment. It emphasizes preventing damage to the biosphere and environment and enriching the understanding of the ecological systems and natural resources among the people of the country. Its basic policy is to ensure that the government gives proper consideration to the environment prior to undertaking any federal action that significantly affects the environment.

Mining Laws in the US Mining Industry

Mining Laws in the US Mining Industry

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US Mining Industry – Taxes and Royalties

The main taxes applicable in the US mining industry are the Severance Tax, Corporate Income Tax (CIT), and Mining Taxes among others. For instance, in Minnesota, a mining tax is applied to the average of tonnes of merchantable iron ore concentrates produced in the current year and the two previous years.

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Recent Development

  • In August 2022, the US government approved the Inflation Reduction Act (IRA) as a plan to achieve lower consumer costs and revitalize the global economy with clean energy.
  • In October 2021, the Senate Committee on Energy and Natural Resources (ENR) rejected the proposal through a politicized budget procedure, claiming that the proposed rates were too high and would hurt the domestic production of building blocks for solar panels, electric vehicles, and other green technologies.

Scope

The report focuses on the mining fiscals’ key aspects such as governing bodies, laws and regulations, governance frameworks, and sustainability practices. The report also includes mining-related taxes and royalties.

Reasons to Buy

  • To help businesses navigate the complexities and comply with the necessary requirements.
  • Obtain up-to-date information on mining sector taxes and payments.
  • Enhance your decision-making capability in a more rapid and time-sensitive manner.
  • Conduct analysis to mitigate the impact of regulatory changes.
  • Understand the regulatory framework.
  • Gain an overview of the mining industry structure by identifying the country’s mining governing bodies, major laws, and licenses.

Table of Contents

Executive Summary

Country Overview

Mineral Overview

Governing Bodies

Law and Regulations

Licenses and Leases

Rights and Obligations

Taxes and Royalties

Sustainable Mining Practices

Political Challenges

Appendix

Abbreviation

Table

Table 1: Ease of doing business, global ranking, 2019–2020

Table 2: National level mining governing bodies and agencies, 2022

Table 3: State level mining governing bodies and agencies, 2022

Table 4: Anthracite coal mining application fees, 2022

Table 5: Bituminous coal surface mining application fees, 2022

Table 6: Bituminous coal underground mining application fees, 2022

Table 7: Non-coal mining application fees, 2022

Table 8: Excise tax rates, 2022

Table 9: Coal royalty rates (%), 2022

Table 10: Mining claim fees (new claims), before september 1, 2019

Table 11: Mining claim fees (new claims), on or after september 1, 2019

Table 12: Mining claim fees (existing claims), 2022

Table 13: Processing fees to apply for waiver in maintenance fees for existing claims, 2022

Table 14: Processing fees for transfer of interest/amended notice of location, 2022

Table 15: Disposition of occupation tax revenue, 2022

Table 16: Tennessee mining fees ($), 2022

Table 17: Alaska mining license tax on net income (%), 2022

Table 18: West Virginia coal severance tax rate (%), 2022

Table 19: Montana coal severance tax rate (%), 2022

Table 20: Nevada, net proceeds tax rates (%), 2022

Table 21: State corporate tax rates (%), as of January 2022

Figures

Figure 1: Country Overview, 2022

Figure 2: Nominal GDP ($ billion) and Real GDP Growth Rate (%), 2001–2020

Figure 3: Mining FDI and exports ($ billion), 2015–2021

Figure 4: Ease of doing business, global ranking, 2019–2020

Figure 5: Corruption perception index rank, 2015–2021

Figure 6: EoDB and CPI Ranking, 2021

Figure 7: Minerals Production Trend, 2011–2021

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