Miners: Plan Ahead for Next Year's Taxes
May 2005 by Mark E. BattersbyMany well-equipped prospecting or mining operations, those with adequate, up-to-date equipment, have discovered a secret: Uncle Sam, in the form of our tax laws, is eager to pick-up a portion of the tab for acquiring and modernizing the equipment necessary to operate a successful mining operation business.
This project began in early August 2002, when approximately 12 major project forwarders were invited to bid on moving a Bucyrus Model 2570W Walking Dragline from the US to Australia.
• Just a drop in the (coal) bucket
• Location, Location, Location...
• The "hard drive" for answers...
The first requirement for a successful mine operation is a market for the product, metallic or nonmetallic. The second requirement is to deliver a quality salable product...
• A skeleton in the closet
• Taxpayers are buying beds
• America's pastime
This assay system of ounces per ton sounds simple enough, but the use of the metric system and the additional measuring terms of “grams per ton” and “parts per million” (ppm) has created some misunderstanding of ore value.
...what do you do when someone intentionally or continually takes gold or other precious metals from your claim?
The small-scale miner has reasonable opportunity to exploit some of these small, rich placer gold deposits.
The Bawl Mill • Our Readers Say • Estimating Gold Values in Placer Gravels • Lode Gold in Nicaragua • California's Original Sixteen to One Mine • Montana Multiple Use Association Backs Miner • Picks & Pans: Detecting Micro-Nuggets • Diamond Search Underway in Alaska and Minnesota • Mining Outfits Eye 50-Year Supply of Iron Ore • Goldfield—Princess of the Mojave • Couple Creates Jewelry of the Iron Range • Melman on Gold & Silver • Looking Back • Mining Stock Quotes and Mineral & Metal Prices