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Mineral Rights

NEWS
March 29, 1987 | CHARLES P. WALLACE, Times Staff Writer
Greece and Turkey backed away Saturday from a threatened confrontation over oil drilling in disputed waters of the Aegean Sea. Greek Prime Minister Andreas Papandreou described himself as "restrainedly optimistic" that the crisis between the two countries had passed after Turkey said it was canceling plans to send an oil research ship into parts of the Aegean where both counties claim mineral rights.
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NEWS
November 18, 1995 | JAMES GERSTENZANG, TIMES STAFF WRITER
Drawing little attention amid the broader federal budget debate, members of the House and Senate, backed by key figures in the mining industry, have carved out a far-reaching agreement that reverses policies and payment practices that have governed mining on public land for more than a century. Under the new provision, the federal government would for the first time collect royalties on gold, silver, lead, platinum and other hard-rock minerals extracted from federal property.
NEWS
March 23, 1989 | DOUGLAS JEHL, Times Staff Writer
Interior Secretary Manuel Lujan Jr., displaying a lack of knowledge about matters central to his department, incorrectly insisted Wednesday that the government was being compensated with mineral royalties for the public lands it sells for just $2.50 an acre. In a fireside session with reporters in his massive Cabinet office, Lujan also made clear that he does not understand regulations governing leasing for coal mining and other purposes.
NEWS
December 2, 1995 | From Associated Press
Decrying "billion-dollar rip-offs," Interior Secretary Bruce Babbitt reluctantly turned over to a private company an estimated $2.9 billion worth of mining rights for $1,745. The sale was required by a mining law enacted 123 years ago to promote development of the West. "This process has gone from distasteful to obscene," Babbitt declared Friday at a news conference where he dramatized his outrage by rolling onto the stage a large Christmas-wrapped box with "$2.9 billion" stamped on the side.
NEWS
November 26, 1988 | DAN MORAIN, Times Staff Writer
Howard McConnell apologized for being a less than eloquent spokesman for his people, but in his words were the echoes of many Yurok Indians. "This is my home. It ain't much, but it's mine. I'll shed my blood for this land," said McConnell, whose arms attest to the cord wood he has chopped, and whose scars bare witness to his determination.
BUSINESS
February 18, 1998
The U.S. government distributed a record $617.5 million in royalties to 36 states last year from mineral, oil and natural gas production. The money represents the states' share of revenue collected by the Interior Department for mineral production on federal lands within states' borders and from federal oil and gas tracts off their shorelines. California received $25.5 million in 1997, behind Wyoming ($227 million), New Mexico ($190.1 million) and Colorado ($43.7 million).
CALIFORNIA | LOCAL
September 8, 2000 | NANCY RIVERA BROOKS, TIMES STAFF WRITER
More than 500 Montebello landowners who contend they were cheated by Southern California Gas Co. won a bitter victory Thursday when the California Public Utilities Commission fined the giant utility nearly $3.5 million for allegedly forcing the property owners to sell their mineral rights at unfair prices and lying about their actions to regulators. The fine is part of a settlement that allows the property owners, many of whom are elderly, to undo the deals with the gas company.
NEWS
May 5, 1997 | STEPHANIE SIMON, TIMES STAFF WRITER
Dreams rattle through this land now and again. The tumbleweed spins through the sage, the sun sets purple over a wrinkled range and a dreamer stands--alone, in silence--thinking life would be rich here. This land is harsh. It's not for everyone. But those who fall, fall hard. And so they could not resist a recent auction billed as the Nevada Land Rush--and hyped as the biggest real estate deal since pioneers in covered wagons raced to claim Western homesteads.
NEWS
August 13, 1996 | JOHN M. BRODER, TIMES STAFF WRITER
Proclaiming Yellowstone National Park "more precious than gold," President Clinton on Monday announced a deal to end a proposed massive gold mining venture on the edge of the nation's oldest park. Clinton took time away from his Wyoming vacation to endorse the agreement, under which the owners of the New World Mine would receive federal lands of comparable value in exchange for cleaning up the Yellowstone site north of here and surrendering all rights to its minerals.
BUSINESS
August 17, 2008
To those letter writers last week (Aug. 10) who were feeling so sorry for Exxon Mobil for having to pay high taxes, purchase mineral rights and lift the oil from its own wells, despite making $11 billion last quarter: Please send me a hankie. Ralph S. Brax Lancaster
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