The US’s Mining Fiscal Regime: H1 2015

Timetric
February 28, 2015
TIM19636
$995.00

Synopsis
Timetric’s US fiscal regime report outlines governing bodies, governing 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
US 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 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 for mining in the US, and the Mining Law 1972, Surface Mining Reclamation and Enforcement Act (SMRCA) are its apex laws.

Scope
The report outlines the US’s 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, Capital Gains Tax, Deductions and Allowances, Depreciation, Branch Profit Tax, Withholding Tax, Loss Carry Forward and VAT.

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 that is responsible for managing the US vast natural and cultural resources.

• The Bureau of Land Management under the Department of Interior is the prime governing body for the management of sub-surface minerals. According to the Federal Land Policy and Management Act of 1976, it acts as the nodal agency for the management of public land resources, as well as managing federal onshore oil, gas and coal operations.

• The Office of Surface Mining Reclamation and Enforcement – also referred to as the Office of Surface Mining (OSM) – is a bureau within the United States Department of the Interior which aims to protect the environment and society from the harmful effects of the surface coal mining.

• The Mine Safety and Health Administration (MSHA) comes under the Department of Labor. It acts as the agency for the prevention of deaths, diseases and injuries that may occur during mining operations, and promotes the mines as a safe and healthy workplace.

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1 Executive Summary
2 The US Mining Industry – Governing Bodies
2.1 Federal
2.1.1 US Department of Interior
2.1.2 Office of Surface Mining Reclamation and Enforcement
2.1.3 Mine Safety and Health Administration
2.1.4 Federal Mine Safety and Health Review Commission
2.1.5 Department of Energy
2.1.6 Nuclear Regulatory Commission (NRC)
2.1.7 Environmental Protection Agency
2.2 State
2.2.1 Office of Oil, Gas, and Minerals (OOGM)
2.2.2 Minnesota – Department of Natural Resources
2.2.3 Alaska – Department of Natural Resources
2.2.4 Idaho – Department of Lands
2.2.5 Missouri – Department of Natural Resources
2.2.6 Tennessee – Department of Environment & Conservation
3 The US Mining Industry – Governing Laws
3.1 Federal Laws
3.1.1 Surface Mining Control and Reclamation Act (SMCRA)
3.1.2 Other Law
3.1.3 The Mining Law 1872
3.1.4 Federal Mine Safety and Health Act (1977) (FMSHA)
3.1.5 Federal Land Policy and Management Act (1976) (FLPMA)
3.1.6 National Environmental Policy Act 1969
3.1.7 Atomic Energy Act 1954
3.1.8 Energy Reorganization Act 1974
3.1.9 Uranium Mill Tailings Radiation Control Act 1978
3.1.10 Nuclear Waste Policy Act 1982
3.2 State Laws
3.2.1 Minnesota Mining Laws (1998)
3.2.2 Natural Resources and Environment Protection Act, 1994 PA 451 (NREPA)
3.2.3 Alaska
3.2.4 Idaho
3.2.5 Tennessee
3.2.6 Missouri
4 The US Mining Industry – Mining Ownership, Licenses
4.1 Coal Mining Lease
4.1.1 Issuance
4.1.2 Area
4.1.3 Term
4.2 Exploratory License
4.3 State Permits
4.3.1 Iron ore mining laws
4.3.2 Location certificate
4.3.3 Operating permit
4.3.4 Mining permit
4.3.5 Source material license
4.3.6 Leasing for uranium mining operations
5 The US Mining Industry – Rights and Obligations
5.1 Rights
5.2 Obligations
6 The US Mining Industry – Key Fiscal Terms
6.1 Bonus
6.2 Rentals
6.3 Federal Reclamation Fee
6.4 Occupation Tax
6.5 Royalty
6.6 Mining Claim Fees
6.7 State Fee
6.7.1 Tennessee
6.8 State Mineral Resources Severance tax and fees
6.8.1 Alaska
6.8.2 Arizona
6.8.3 Alabama
6.8.4 Arkansas
6.8.5 Idaho
6.8.6 Indiana
6.8.7 Kentucky
6.8.8 Louisiana
6.8.9 Maryland
6.8.10 Minnesota
6.8.11 Montana
6.8.12 North Dakota
6.8.13 Nevada
6.8.14 New Mexico
6.8.15 Ohio
6.8.16 Pennsylvania
6.8.17 Texas
6.8.18 Tennessee
6.8.19 Utah
6.8.20 Virginia
6.8.21 West Virginia
6.8.22 Wyoming
6.9 State Real Property Tax
6.9.1 Michigan
6.9.2 Minnesota
6.9.3 Alabama
6.9.4 Arizona
6.9.5 Colorado
6.9.6 Illinois
6.9.7 Indiana
6.9.8 Kentucky
6.9.9 Maryland
6.9.10 Montana
6.9.11 North Dakota
6.9.12 Ohio
6.9.13 Pennsylvania
6.9.14 Texas
6.9.15 Virginia
6.9.16 West Virginia
6.9.17 Wyoming
6.10 Corporate Taxes
6.10.1 Federal Income Tax
6.10.2 State Corporate Tax Rate
6.11 Alternative Minimum Tax
6.12 Capital Gains Tax
6.13 Deductions and Allowances
6.13.1 Tax deductions
6.13.2 Depletion allowance
6.14 Depreciation
6.15 Branch Profit Tax
6.16 Withholding Tax
6.17 Loss Carry Forward
6.18 Value Added Tax (VAT)
7 Appendix
7.1 Abbreviations
7.2 Methodology
7.3 Secondary Research
7.4 Primary Research
7.5 Contact Timetric
7.6 About Timetric
7.7 Timetric’s Services
7.8 Disclaimer

Table 1: The Mining Industry in the US – Fiscal Regime Terms and Other Taxes, 2015
Table 2: The Mining Industry in the US – Coal Mining Fees (US$), 2015
Table 3: The Mining Industry in the US – Minnesota Occupation Tax Rates (%), 2015
Table 4: The Mining Industry in the US – Coal Royalty Rates (%), 2015
Table 5: The Mining Industry in the US – Mining Claim Fees (US$), 2015
Table 6: The Mining Industry in the US – Tennessee Mining Fees (US$), 2015
Table 7: The Mining Industry in the US – Alaska Mining Tax on Net Income (%), 2015
Table 8: The Mining Industry in the US – Montana Coal Severance Tax (%), 2015
Table 9: The Mining Industry in the US – Nevada Mineral Resources, Net Proceeds Tax Rates (%), 2015
Table 10: The Mining Industry in the US – State Federal Income Tax Rates (%), 2015
Table 11: The Mining Industry in the US – State Corporate Income Tax Rates (%), 2015
Table 12: The Mining Industry in the US – Arkansas State Corporate Income Tax Rates (%), 2015
Table 13: The Mining Industry in the US – Kentucky State Corporate Income Tax Rates (%), 2015
Table 14: The Mining Industry in the US – Louisiana State Corporate Income Tax Rates (%), 2015
Table 15: The Mining Industry in the US – Mississippi State Corporate Income Tax Rates (%), 2015
Table 16: The Mining Industry in the US – New Mexico State Corporate Income Tax Rates (%), 2015
Table 17: The Mining Industry in the US – North Dakota State Corporate Income Tax Rates (%), 2015
Table 18: The Mining Industry in the US – Percentage Mineral Depletion Rates (%), 2015

Figure 1: The Mining Industry in the US – Commodity Mines at Different Stages (Number of Mines), 2015

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