A federal committee on Tuesday recommended imposing royalties on US hardrock mining for the first time, a move it said could increase domestic production by providing funds for the agencies in charge of issuing new mining permits. The proposal was part of a suite of recommendations aimed at increasing supply of the materials like lithium, cobalt and nickel that are needed for a domestic electric vehicle (EV) industry that is key to President Joe Biden's climate agenda.
A federal committee on Tuesday recommended imposing royalties on US hardrock mining for the first time, a move it said could increase domestic production by providing funds for the agencies in charge of issuing new mining permits.
In addition to recommending royalties of 4% to 8%, the interagency group advocated for moving to a system of leasing federal lands for mining and encouraging mining claimants to develop claims in a timely manner by increasing fees over time.Increased funds could both shore up agency staff needed to speed mine permitting, engage with local communities and protect taxpayers from the cost of cleaning up abandoned mines.
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