Congress showed in 1920 that it could make extractive industries pay when it moved coal, oil, and gas out of the 1872 law. Hardrock mining has beaten every attempt since: royalty bills die in the Senate, a patent freeze needs yearly renewal, and a 2025 royalty bill got one hearing. The law is now moving toward more mining rights and federal equity stakes.
Industry says a royalty would push mining overseas, while reformers cite Nevada, Australia, and Chile. Whether federal equity stakes in mining companies are a reform, a substitute, or neither is open, as are the figures for royalty-free revenue, which no one measures.


