Exploration, Development and Taxes
May 2007 by Scott HarnFurther demonstrating the importance of seeking professional assistance and advice are the tax rules governing the expenses of a mining company. The tax treatment of mine exploration and mine development costs is confusing, complex and often overlooked or ignored—except by the ever-vigilant Internal Revenue Service.
...this time, instead of swarming over streams and gravel beds teasing out flakes of the precious metal, miners may have found the fabled and elusive mother lode.
Environmental groups have sued the U.S. Fish and Wildlife Service over its refusal to designate critical habitat for seven rare species, five in California and two in Alaska.
The World Gold Council reports that gold jewelry demand in the first nine months of 2000 is running a little above the record level of last year. Jewelry demand for the nine months was 2,114 tonnes, 1% above the level of a year ago, according to their quarterly survey “Gold Demand Trends.”
Congress decided that if they shared the riches of our lands with the people, we would colonize and expand the states at a much faster pace, thus the birth of public lands and mining claims in America.
• BLM claim fees rise
• Critical minerals bill
• Sage-grouse habitat
Several locations in the Mojave Desert region of California have yielded placer gold, apparently scattered from nearby lode deposits that have long-since eroded from existence. Some of the areas are still popular with weekend prospectors, and some have been worked on a much larger scale in recent years.
• The EPA is in your bathroom!
• Russians fund US environmental groups
The Bawl Mill • Ask the Experts—Where can I find plans for a home-built suction dredge? • Ask The Experts—Can you help explain the ratings in Melman On Gold & Silver? • Recovering Values from Black Sands • Typhoon Exploration—Junior Mining Company Moves Forward in Quebec • Kalgoorlie, Australia—Born of Gold • Colorado Court Rules on Cyanide Ban • Selling Your Gold—Where To Start • The Business of Mines—Consider Your Tax Deductions Now • US v. Donald Eno—IBLA Rules in Favor of Miner • Miners Clean Washington Rivers and Streams • Melman on Gold & Silver • Mining Stock Quotes, Mineral & Metal Prices • Looking Back