I would like my home county, and my state and my federal government to not be (for lack of a better term) schmucks on this approval. This project, which will be a constant threat to Snake River Chinook salmon, steelhead and bull trout, not to mention the environment, the East Fork of the South Fork of the Salmon River, the South Fork of the Salmon River, Meadow Creek, Johnson Creek's ingress/egress route and the Salmon River, claims they plan to dig out some $11 billion with a B from this area in a 14-year mining operation.
Naturally, that number is about as accurate as you predicting the exact number of games each Major League Baseball team will win in 2020, but that is the claim and therefore, since I am sure the laws will not prevent this from happening (it shouldn't happen, because gold isn't as valuable as those fish or streams or the general environment) but since it will happen I want to start talking about the appropriate royalty amounts.
After all, this company is coming into my backyard or every Valley County resident's backyard and planning on extracting $11 billion with a B in wealth from us and I want to know what we get in return. Jobs are not enough, no thank you, if the proposal is only about some short term jobs, then forget it. No, Valley County's commissioners need to begin right now discussing the appropriate royalty amount they should charge Midas Gold for being allowed to come into Valley County and impoverishing us by $11 billion with a B. They are taking $11 billion from us, what do we get in return? Jobs are not enough, no thank you and if you are on the commission in Valley County and you think that some short term jobs are enough and nothing else, please stop being a schmuck. It's our wealth, they want it bad enough to work for it, but they (Midas Gold) should pay us a royalty for it.
The state of Idaho, should also not be schmucks on this deal, because this Canadian company is planning on impoverishing the state by $11 billion with a B as well, and if the promise is just short term jobs, no thank you. They want our natural resource wealth and there is an appropriate rate at which we the people of Valley County, of Idaho and also of these United States should be paid for that privilege we eventually will give to Midas Gold to extract our wealth.
The royalty fee in total should be in the neighborhood of 10-15 percent of what Midas Gold actually extracts. That royalty fee should be tied to the price of gold at the time of extraction and paid within a reasonable time frame of say 90 days. That royalty shall not be diminished by company expenses, it shall be the percentage of the actual amount of whatever mineral they extract. This royalty shall not be used in exchange for a bond, which should be posted before this project begins and set at 15 percent of the projected earnings and shall be paid out immediately to the responsible agencies upon Midas Gold's failure to continue its operation (these companies generally structure themselves in a way to allow the sub to go bankrupt leaving you and me taxpayers to foot the bill of reclamation, no thanks, bond needs to be $1.6 billion at a minimum).
So, now we get to the part where the three levels of government fight over the 10-15 percent royalty, which would be $1.1 to about $1.6 billion. Naturally, Valley County should get half, the state should get 35 percent and the federal government should get 15 percent. There you go Commissioner Gordon, I just funded your roads and schools for the time Midas Gold is taking away our natural heritage. And I funded a whole lot more than that. If this project is as valuable as Midas Gold has claimed, then a royalty of 10-15 percent and a bond of 15 percent shouldn't be spectacular hurdles? Should it?
I know, I know for some reason the idea of standing up for yourself in the public sector has been stripped away over the years, but if you don't stand up for the people of Valley County, the people of Idaho, the people of the United States then we are going to continue exporting our wealth to other countries and sit around wondering why we have a national debt of some $16 trillion.
I would rather these mining companies would consider cleaning up the area first and having some modest mining component in their plan to make a modest profit, but that isn't the case and so since the case is going to be full on landscape destruction they need to pay me and everyone who fits the description of Valley County resident, Idaho resident or United States citizen appropriately for the very great opportunity we have provided for them here.