Posted on March 21, 2013 by Minerals Make Life
Today, the House Energy and Minerals Subcommittee held an oversight hearing on “National Strategic and Critical Minerals Production Act of 2013” (HR 761) and a legislative hearing on seven mining bills that will create jobs, streamline the permitting process and make America less dependent on foreign minerals.
National Mining Association President and CEO Hal Quinn testified on behalf of HR 761, reintroduced this year by Rep. Mark Amodei (R-Nev.).
Quinn explained the current economic contributions of domestic mining: nearly 2 million direct and indirect jobs; $50 billion in tax payments to federal, state and local governments; $2.4 trillion in value added to GDP from major industries that consume processed mineral materials in 2012; and $23.8 billion in positive contributions to America’s balance of trade.
He also stressed that because of a broken permitting system, the future for mining in the United States is unclear. With a growing global middle class, demand for minerals will undoubtedly increase, but delays in permitting and general uncertainty in the mining sector leave the U.S. unable to attract investment.
Quinn urged Congress to pass H.R. 761 “to provide a more predictable regulatory environment to attract additional investments and allow U.S. mining to build on our positive contribution to the U.S. economy and host communities.”
Read his full testimony here.