Nevada Residents to Decide Fate of Mining Tax

mining.com ^ | 10/12/2014 | Andrew Topf

[JimSEA]

The Nevada gold-mining industry is keeping its ear carefully tuned to what residents think of the state's mining tax.

In November Nevada residents will be asked to vote on whether to remove a mining-tax cap from the Nevada constitution, which stipulates that the mining industry will pay no more than 5 percent tax on the net proceeds of minerals. If voters reject the 5 percent provision, the state legislature could impose whatever tax rate it pleases.

[JimSEA]

Way back when I was working for Newmont in Carlin, Dirty Harry Reid was campaigning for a gross proceeds tax which had the potential to decimate the mining industry. He had great support from environmental groups and, of course, Clark County.

[rellimpank]

---and the somewhat right-leaning Las Vegas Review-Journal came out in favor of the tax this morning---only tax they've ever favored in my memory--

[SpaceBar]

Gold Quarry has seen its heyday, and the rest of the Carlin trend is nearly breakeven economically. Raise the cost of doing business and all you haulpak drivers, diesel mechanics, mud loggers, and assay lab techs can learn a new skillset. Like flipping patties.

[Pentagon Leatherneck]

See how fast Nevadans kill their Golden Goose.

TC

[EasySt]

My Dad and I recently moved here from California. We’l be voting against this crap.

[EasySt]

Typo. meant “We’ll”. We will be voting against this and any other progressive asininity we can here.

[JimSEA]

I was there when the first ore was hauled to the mill. My office was in the Carlin pit mill. That way we would be the first to know about a chlorine leak. Jay McBeth was great to work for.