In September, after years of heated debate and legal battles, Kennecott Eagle Minerals began blasting into the ground at its controversial nickel mine near Marquette. The company, a subsidiary of London-based mining giant Rio Tinto, believes the Eagle mine will yield 300 million pounds of nickel and 250 million pounds of copper. Kennecott is one […]
severance taxes
Posted inMichigan Government
Taxation on resources varies widely among states
Severance taxes that Michigan and other states levy on extractive industries are used for a variety of purposes, from funding pollution cleanups to supporting public education, according to a new study. Most of the $57 million that Michigan collected in severances taxes on extractive industries in 2010 went into the state’s general fund, according to […]