Gold Mines Assistance Act

[AI summary unavailable — showing source text] Gold Mines Assistance Act - Establishes a Gold Mines Assistance Commission consisting of five members to be appointed by the President for a term of four years to administer the provisions of this Act. Provides that one member of the Commission shall be appointed to represent the Department of Commerce, one the Department of the Treasury, and one the Department of the Interior. Asserts that the two remaining members shall be public members appointed from among individuals qualified by reason of experience in the gold mining industry within the five years preceding their appointment. Provides that the President shall designate the Chairman of the Commission. Provides that, to qualify for financial assistance payments under this Act, the operator of a domestic gold mine shall apply to the Gold Mines Assistance Commission for a certificate of eligibility to receive such assistance and, in so doing, shall: (1) show that during the next twelve months commencing on the date of his application the costs of efficient operation of his mine will necessarily be at such a level that substantial gold ore reserves will be mined only if financial assistance is given the applicant as provided in t…