DETROIT
11/28/2011 03:51 pm ET

Will Mines Get State's Riches For A Paltry Sum?

Critics -- and even a key state agency -- say the state isn't getting enough in exchange for the wealth of minerals about to be extracted from the Upper Peninsula.

The state has no severance tax on minerals, as it does on oil, gas and iron mines. The tax is a way to repay Michigan citizens for the value of underground resources removed forever from the state.

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