The White House plan would impose a variable 4% to 8% net royalty on hardrock minerals produced on federal lands. The proposal needs approval by Congress — unlikely when the House is controlled by Republicans who have long opposed such fees.
The U.S. stands out among other countries, such as Australia, Canada and Chile, that collect royalties on minerals. At least a dozen Western states also collect royalties on hardrock mining. Tribes and environmental groups welcomed the report but urged President Joe Biden to go further to protect. The White House formed the working group last year as Biden pledged to boost production of lithium, nickel and other minerals used to power electric vehicles and other clean energy.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US, Vietnam firms hold business summit during Biden visit; AI deals unveiledBy Phuong Nguyen and Francesco Guarascio HANOI (Reuters) - Executives at top U.S. and Vietnamese firms in the semiconductor, tech and aviation sectors ...
Source: SaltWire Network - 🏆 45. / 63 Read more »
US, Vietnam firms hold business summit during Biden visit; AI deals unveiledExecutives at top U.S. and Vietnamese firms in the semiconductor, tech and aviation sectors are meeting on Monday as part of U.S. President Joe Biden's visit to Hanoi, seeking to forge business partnerships with new deals in AI unveiled. Senior executives from Google, Intel, Amkor, Marvell, GlobalFoundries and Boeing are attending the Vietnam-U.S. Innovation & Investment Summit, according to a draft agenda that confirms a Reuters report. From Vietnam, there are executives from half a dozen companies, including Nasdaq-listed electric car maker VinFast, flag carrier Vietnam Airlines, tech company FPT, MoMo, the country's biggest e-wallet by users, as well as internet firm VNG, which filed in August for a U.S. IPO.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »