Following a recent post (link), I wanted to provide you with an update regarding H.R. 4402, the National Strategic and Critical Minerals Production Act of 2012.
On May 16, 2012, the House Committee on Natural Resources passed the bill, offered by Rep. Amodei (R-Nev.), where it received strong support in the committee. The bill now heads to the full House for consideration. There were three amendments that could have adversely affected the mining sector, including adding a new 12.5 percent tax on mining; however, they were all defeated during the hearing.
The simple reality is that inaction on permitting delays in the U.S. is hurting job creation, economic growth and our long-term security. Rep. Amodei’s legislation will help to solve the problem while still ensuring that every new project is properly reviewed.