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A proposal to tax lithium as a precious metal in South Dakota passed through the House and a Senate Committee before failing by a single vote in the full Senate. ....
The bill would classify South Dakota lithium as a precious metal – like gold and silver – and place a 10% tax on company profits from lithium mining. ....
Lithium is a key metal for modern batteries in electric vehicles and other consumer items, and mining claims have rapidly spread in the Black Hills. ....
Last year’s federal Inflation Reduction Act is boosting interest in minerals contained in the Black Hills. That’s raising curiosity and concern for area residents who attended a Black Hills Forum and Press Club event on Friday. ....