Assessment work must be filed and recorded. A mining license tax MLT is payable on all production from State, federal or private lands. This tax is on a net profits basis with a no-tax grace period for the first 3.
Nome Offshore Mining Information
This production royalty is payable on all State land production and does not include the 3. Failure to file and pay this royalty will result in loss of claims. Further regarding State lands, at any time in the exploration or production process, the claimholder, at his discretion may take the area covered by mining claims to a lease.
This lease will have the same rental and production royalty rates as for the claims and will still require annual claim filing and recordation. The lease will also define specific rights of control and tenure that may otherwise be open to conflict with third party claimants or other multiple use users of the State land.
Minerals on State lands cannot be patented. Alaska has a modem mining law based on self-initiation and location of mining claims.
This has been a brief look at that law. Times have definitely changed for mineral development in Alaska. The opportunities are tremendous and the attitudes and regulatory climate ‘in the state are greatly unproved as compared to the past, and they continue to improve on a yearly basis. Borell is the Executive Director of the Alaska Miners Association which represents all aspects of the mining industry in Alaska.
The Alaska Miner welcomes information for inclusion in News in Brief. Alaska Miner, Arctic Blvd.
Send news items to: Initial drill testing of these targets is scheduled for this summer with a Versadrill field portable drill, operated by Core One Drilling of Delta Colorado. At the SAL prospect, grab samples from gossan and altered rocks in the area have returned assay values of up to 1. At the STU prospect, grab samples have returned values of up to 2.