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Considers S.J. Res. 44, to authorize the Interior Dept to make incentive payments to domestic gold producers and increase development and production and need for similar silver production incentives.

Gold Mining Incentives

United States. Congress. Senate. Committee on Interior and Insular Affairs. Subcommittee on Minerals, Materials, and Fuels

Published: 1967

Total Pages: 74


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Considers S. 49 and similar S. 615, to authorize payment of differential production and operating subsidies to new and existing gold mines and to establish a Board of Gold Differential Payments Review.
This paper focuses on problems of economic policy in terms of targets and instruments. Both the fixed-targets approach and the welfare-economics approach tend to favor a multiplication of policy instruments, the former so as to increase the number of targets that can be attained and the latter so as to permit all objectives to be more closely approximated. It is necessary that policies be centrally coordinated, and in each country, there is a limit to the number of policies that can be successfully coordinated by the political and administrative machine. For this reason, the costs of applying any given policy instrument will depend not only on the degree of its use but also on the number and nature of the instruments already in use. The existence of both kinds of cost, and particularly the latter, will set a limit on the number of policy instruments that can appropriately be brought into operation.
This book discusses the history of royalties and the types currently in use, covering issues such as tax administration, revenue distribution and reporting. It identifies the strengths and weaknesses of various royalty approaches and their impact on production decisions and mine economics. A section on governance looks at the management of mining revenue by governments and the need for transparency. There is an attached CD with examples of royalty legislation from over 40 countries.