HomeMarket NewsMiningWindfall for Land Reclamation: $124.8 Million Allocated to US States and Tribes

Windfall for Land Reclamation: $124.8 Million Allocated to US States and Tribes

Actionable Trade Ideas

always free

Renewed Commitment to Reclaiming Abandoned Mines

The recent allocation of $124.8 million to states and tribes for land reclamation work marks a renewed commitment towards addressing the historical hazards posed by abandoned mines in the United States. The Bipartisan Infrastructure Law has not only reauthorized but extended the Abandoned Mine Land (AML) fee through September 30, 2034.

Empowering Coal-Producing States and Tribes

In fiscal year 2024, 24 coal-producing states and two tribal AML reclamation programs stand eligible to receive AML fee-based grants, determined by a congressionally mandated formula reflecting their coal production history. Despite a 5.7% sequestration cut, the total available amount for fiscal year 2024 grants stands strong at $124.8 million. Notably, states like Wyoming, Pennsylvania, and West Virginia emerge as the top beneficiaries, jointly receiving over $62 million.

A Rich Legacy of Reclamation Efforts

Since 1977 when the Surface Mining Control and Reclamation Act was put into effect, the government agency has disbursed a colossal $8.5 billion in AML fee-based grants to states and tribes. These funds have been instrumental in mitigating the risks posed by pre-1977 mining practices that left lands and waters in a degraded state. The recent injection of $124.8 million stands as a testament to the ongoing commitment towards revitalizing these abandoned mine sites.

Bolstering Past Initiatives

The announcement comes in the wake of additional funding provided by President Biden’s Bipartisan Infrastructure Law and the Abandoned Mine Land Economic Revitalization Program. This triple synergy of financial backing underscores a concerted effort to empower states and tribes in their tireless endeavors to restore the nation’s abandoned mine lands.

Ensuring Long-Term Resources for Reclamation

The grants not only signify a financial boost but also serve as a reassurance that state and tribal partners will continue to possess the necessary resources to sustain their impactful reclamation work for years to come. It’s a critical investment in safeguarding our environment and heritage from the perils of abandoned mines.

Swing Trading Ideas and Market Commentary

Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading.

Explore More

Weekly In-Depth Market Analysis and Actionable Trade Ideas

Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community.