Shrinking world of exploration. Part I
Exploration is the initial stage in developing raw materials to meet future world demand. Government actions that shrink profits, or nullify existing agreements, or expropriate mines, curtail exploration and future mines as effectively as direct prohibitions on exploration. In the U.S. vast areas are banned to exploration and mining, while increased taxation, safety, and environmental strictures add further disincentives. Abroad, high taxes, plus laws limiting mine ownership vie with expropriation in scaring off exploration funds. Conditions in the U.S. and in Canada are examined here in Part I of a two-part series. In the U.S., the Federal public lands originally subject to the laws in 1872 and 1920 were 742 million and 825 million acres, respectively. Between 1968 and 1974, 67 percent or two-thirds of the public domain was removed from our hard mineral resource wealth. Regarding leasable minerals, 64 percent of the acreage has been fully withdrawn and 9 percent is severely restricted in use. Of potential major impact on all industry is the Endangered Species Act of 1973. This law aims at protecting all animals and plants that are in danger of extinction and this indicates much land will become involved in sanctuaries for animals and plants. The author maintains that with modern reclamation practices, the acreage that would be scarred permanently by mining is small. In Canada, exploration has fallen off dramatically in Saskatchewan and British Columbia, and to a lesser extent throughout Canada. Using surface diamond drilling as a criterion, statistics show that total exploration is about one-half what it was 20 years ago. (MCW)
- OSTI ID:
- 7339851
- Journal Information:
- Min. Eng. (N.Y.); (United States), Journal Name: Min. Eng. (N.Y.); (United States) Vol. 28:4; ISSN MIENA
- Country of Publication:
- United States
- Language:
- English
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