Word: ore
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Dates: during 2000-2009
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Huston's benevolent gesture was a sentiment decades ahead of its time. Today, gold and other precious-metal mining companies are extracting bounties of ore, leaving behind scarred mountainsides, toxic acid-rock runoffs and waste-rock dumps - and although much of the damage is on public land, the mining operations, most of which are multinationals, are not required to pay royalties on precious-metals production, and many escape liability for environmental restoration...
Rahall's bill would require companies to make royalty payments on "net-smelter" profits from ore mined off federal claims. Two-thirds of those collections would go toward remediation of the $32 billion in environmental mining damage already incurred in the U.S., and one-third to help local communities adversely affected by mining operations. "We're trying to put some fair return to the American taxpayer for the use of their land," says Rahall, the new chairman of the House Interior Subcommittee. "Whether it's coal or gold mining, there are social and economic impacts that are just the same...
Investors are drinking it in. Bill Sweat and his wife Donna Morris quit their day jobs at Fidelity Investments in Boston, and last year moved to Dundee, Ore., where they bought a 20-acre vineyard, now called Winderlea, in a Pinot Noir region. The couple had long been collectors and felt the time was right to jump in. "We come from a business where you make money every day, so we didn't get into this solely because of our passion," Sweat says. "We definitely got into it because we thought we could make some money...
Thomas L. Gritzka, M.D., Portland, Ore...
...ultimately lead to economic reforms. And for foreign investors lured by what Devonshire-Ellis calls the "barren romance" of the place, North Korea holds obvious, if modest, attractions: a highly literate workforce with average daily wages that are about half what Chinese earn; abundant mineral resources, including coal, iron ore and gold; a cash-on-the-barrel economy; and virtually no competition. It's not hard to gain a first-mover advantage, after all, if everyone else is standing still...