Royalty

(a) In general Subject to subsection (c) and section 202, production of all locatable minerals from any mining claim located under the general mining laws and maintained in compliance with this Act shall be subject to a royalty established by the Secretary by regulation of not less than 5 percent, and not more than 8 percent, of the gross income from mining for production of all locatable minerals. (b) Royalty Rate The regulation shall establish a reasonable royalty rate for each locatable mineral subject to a royalty under this section that may vary based on the locatable mineral concerned. (c) No Royalty for Federal Land Subject to Existing Permit No royalty under subsection (a) shall be required for production on Federal land that— (1) is subject to an approved plan of operations or an operations permit on the date of the enactment of this Act; and (2) produces valuable locatable minerals in commercial quantities on the date of enactment of this Act. (d) Federal Land Not Subject to Existing Operations Permit Production from any Federal land not specifically approved for mineral extraction under a plan of operations or an operations permit in existence on the date of enactment of this Act shall be subject to the royalty described in subsection (a). (e) Deposit Amounts received by the United States as royalties under this section shall be deposited in the Fund.