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Accession Number PB2013-103443
Title Mineral Resources: Mineral Volume, Value and Revenue.
Publication Date Nov 2012
Media Count 50p
Personal Author N/A
Abstract The Department of the Interior (Interior) administers minerals found in over 700 million acres of federal lands, 57 million acres on Indian lands, and 1.8 billion acres below offshore waters. Operators who lease these lands and extract these minerals pay billions of dollars annually that are shared among federal, state, and Indian tribal governments and are one of the largest nontax sources of revenue to the federal government. Some of these minerals, such as oil, gas, and coal, are available through leases requiring payments in the form of rents and bonuses, which are required to secure and maintain a lease, and royalties, which are based on the value of the minerals that are extracted. These minerals are generally known as leasable minerals. The Department of the Interior's Office of Natural Resources Revenue (ONRR) is responsible for compiling data on the volume and value of leasable minerals produced from all federal and Indian lands where there is a trust responsibility, and collecting the appropriate payments. In contrast, other minerals, such as gold, silver, and copper, are governed by the General Mining Act of 1872, which makes these minerals available to operators through a federal claim-patent system that provides the right to explore, extract, and develop the federal mineral deposit without having to pay a royalty. These minerals are generally known as hardrock minerals.
Keywords Data collection
Department of the Interior
Federal lands
Gases
Indian lands
Leasing
Mineral resources
Offshore waters
Oils
Regulations
Revenue
Royalties


 
Source Agency General Accounting Office
NTIS Subject Category 48A - Mineral Industries
97A - Reserves
97G - Policies, Regulations & Studies
70F - Public Administration & Government
Corporate Author Government Accountability Office, Washington, DC.
Document Type Technical report
Title Note N/A
NTIS Issue Number 1308
Contract Number N/A

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