Hard rock miners get shafted in Presidents 2016 budget

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President Obama’s proposed FY2016 federal budget seeks to protect over 100,000 coal mining workers whose pension plans are not adequately funded, as well as those whose health insurance claims have been denied due to bankruptcy in the bituminous coal sector.

Unfortunately, Obama’s largess did not extend itself to the “hard rock mining industry” which would be subjected to a royalty of no less than 5% of gross proceeds and include increases for annual claim maintenance fees and also a new mineral leasing process.

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