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Edward L. Phillips's avatar

The laws surrounding mining claims were first codified by the Mining Act of 1872 and updated in 1977. The cost of filing and maintaining claims is minimal about $100 a year in labor and improvements per claim (20 acres) for claims on federally controlled lands. Oil and gas leases on the other hand, are for a fixed period of time, usually 10 years. At the end of that time, if there is not substantial exploration activities or production, the leases revert back to the federal government. These problems all revert to the 1872 Act.

The BLM is also legally bound to encourage development. It's all outdated.

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Edward L. Phillips's avatar

It is obviously not a rich deposit or it would have been developed much earlier. I suspect you are right that Ascot is interested in the U.S. Treasury. It should be subjected to the Environmental Impact Process with an economic analysis. They may have a legitimate claim for compensation. I am very uneasy about a federal taking. The Constitution's Fifth Amendment provides protection from this process.

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