Posted on September 02, 2015 by Minerals Make Life
A recent survey found that Americans continue to believe manufacturing is a critically important component of a strong national economy. Key findings from the survey, conducted by The Manufacturing Institute and Deloitte US, show that 77 percent of Americans believe “a strong manufacturing base should be a national priority,” and 82 percent feel the U.S. needs to make more investments in manufacturing. Jennifer McNelly, president of The Manufacturing Institute, explains:
“The good news for policy makers and business leaders is that Americans remain steadfast in their commitment to creating a strong, globally competitive manufacturing sector in the United States, and Americans believe the United States should invest more heavily in manufacturing. Taken together, the public’s views are an important guidepost for public policy, as well as an important indicator for businesses.”
So what does this mean for minerals mining? Minerals are the bedrock of manufacturing, and minerals mining plays a key role in bolstering U.S. manufacturing and economic growth. Minerals are the irreplaceable components of the products and technologies that make the U.S. a leader in global innovation. Our military, energy, medical and modern-day technologies all rely on a great combination of minerals. In order to have a strong manufacturing sector that propels our economy, boosts job growth and enables the U.S. to compete globally, it’s vital we have a secure, stable and reliable mineral supply chain.
However, our current mine permitting process makes it difficult for domestic manufacturers to get the materials they need. In the U.S. it takes between seven to 10 years to obtain mining permits, which discourages investment in new mining projects, putting our mineral supply chain at risk and leaving manufacturers concerned about the mineral supply needed to conduct their businesses. In fact, nearly 90 percent of manufacturing executives say they are concerned about mineral supply disruptions outside of their control, and approximately 90 percent support limiting the permitting process to less than three years.
To re-establish a robust, more sustainable and resilient manufacturing sector in the U.S., policies aiming to reform the current mine permitting process are needed in order to effectively feed the manufacturing supply chain and boost U.S.’ global competitiveness.