2014 Mineral Commodity Summaries Commentary
March 18, 2014
The 2014 Mineral Commodity Summaries, an annual report from the...
The end of the year is prime time for celebration, as well as a good time to reflect. Join us as we review the top 14 blog posts of 2014, always remembering how minerals make America.
1. Survey Finds that Manufacturers Depend on U.S. Minerals Mining
“Minerals are essential to the manufacturing of the technologies and products that make the U.S. the world leader it is today; however, efficient access to domestic minerals is thwarted by the overly burdensome permitting process, which jeopardizes U.S. national security, depletes our economy and reduces job opportunities. While the survey shows that eighty percent of business leaders in the U.S. manufacturing sector recognize the importance of domestic mining, ninety percent are concerned about supply chain disruptions outside of their control. Despite the U.S. having one of the world’s largest mineral repositories ($6.2 trillion worth), less than half of the minerals American manufacturers use come from domestically mined resources.”
2. How Much Clout Does a Mining Degree Carry in the Real World?
“According to a new H&R Block infographic, your college major carries more currency than you might expect, often predicting the level of financial success for future graduates. Fortunately for students studying mining-related subjects like engineering and geology, degrees that prepare students to work in the mining industry are the most in-demand degrees in the workforce. In fact, industrial engineering is one of the top occupations for recent graduates. Furthermore, mining is one of the highest paying industries, with a starting salary of more than $80,000 per year.”
3. 2014 Mineral Commodity Summaries Commentary
“The 2014 Mineral Commodity Summaries, an annual report from the U.S. Geological Survey, shares information about domestic minerals and their importance to the U.S. economy. Below are some key highlights from this year’s report…Minerals are the building blocks of our future and provide the materials we need for technological innovation, economic growth and national security. To see the complete 2014 outlook, read the full report here.”
4. We Depend on Minerals Everyday
“Many Americans recognize that minerals are a part of their daily lives, but they might be shocked to find out that they personally depend on more than 38,000 pounds of new minerals annually—that’s more than 100 pounds of minerals per day. While minerals are frequently used to create the materials used in the construction of roads and buildings, they also serve as critical components in the manufacturing of high-tech electronics, next-generation vehicles and other everyday devices.”
5. The Mining Industry’s Investment in You
“The United States mining industry strongly believes in supporting and being involved with local communities. In tough economic times, this sector has provided more job opportunities to struggling small towns across the nation. That’s why it comes as no surprise that this industry, which already supports over 1.2 million jobs, is expanding at a constant rate. On July 3, 2014, the Bureau of Labor Statistics reported that manufacturers added 16,000 jobs in June, making this the eleventh consecutive month of job gains for the industry. The manufacturing sector has, on average, added 12,636 new jobs a month since August 2013, and 644,000 new jobs since the end of 2009. Specifically, the mining industry is expected to add 11,000-13,000 jobs annually for the next 20 years.”
6. WATCH: Minerals Mining is Driving Innovation
“Minerals are not only important to the American way of life, but are also integral to the technologies that make American companies world leaders in innovation. It’s time for leadership to support meaningful permitting improvements to keep America at the forefront of innovation.”
7. WATCH: Manufacturing Makes a Comeback
“’Made in America’ is making a comeback. After decades of outsourcing, manufacturing jobs are coming back to the U.S., with large companies like GM, BMW and Ford expanding U.S. production… America’s manufacturing comeback relies on stable access to key mineral resources; however, our outdated, duplicative mining permitting process impedes access to $6.2 trillion worth of these resources, hindering our competitive edge and hurting the growth of domestic manufacturing.”
8. Iron Ore Serves as the Backbone to Nearly Every Industry
“Beyond its applications, iron ore production is an economic stimulant essential to U.S. growth. Because of the U.S.’ immense supply of iron ore, America ranks among the top 10 producers of the metal. In fact, in 2013, the value of iron ore produced in the U.S. amounted to $5 billion. Furthermore, iron ore production supported more than 20,000 direct, indirect and induced jobs in 2012 and with increased access to minerals like iron ore, there is opportunity for thousands of new jobs.”
9. Mining Ranks High in Productivity Study
“People are the core of U.S. minerals mining — the employees whose dedication and expertise define the mining workforce. Nothing is more important to U.S. minerals mining than the safety and well-being of its workers. With the adoption of CORESafety®, we are able to create healthy and safe workplace environments using a management system that involves leadership, management and assurance.”
10. Mining Jobs and the Gem State
“Idaho Mining Association member firms created more than 9,000 jobs, and contribute more than $1.142 billion in gross state product in 2012. There ripple effect, of course, is where the bigger picture emerges. For every one Idaho mining job, nearly two non-mining — but industry-supporting — jobs are created, adding $356,000 to the state’s gross domestic product.”
11. Rare Earths in High Demand
“Rare earth minerals, 17 rare elements housed deep within our Earth’s crust, are some of the world’s most sought after minerals because of their versatility and multiple functions. From high-tech innovation to advanced energy and national security, rare earth minerals are central to our technological development and defense needs. In fact, by 2015, world demand for rare earth minerals is expected to reach 210,000 tons per year up from 136,100 tons in 2010.”
12. Russia Plays “Palladium Politics” with the West
“While worldwide demand for minerals has significantly increased, minerals production in the United States has remained relatively flat for more than 20 years. Stagnant production, coupled with dependence on a growing list of minerals, increases our risk of supply disruptions and other vulnerabilities. To help insulate against global supply threats, America needs more companies like Stillwater Mining Company, a Montana-based mine that is currently America’s only palladium and platinum producer. We need our leaders to create policies that enable the United States to be more self-reliant and less dependent on foreign minerals.”
13. NMA Celebrates Women In Mining
“Today we’re celebrating International Women’s Day by giving special acknowledgement to the thousands of hardworking women of the U.S. minerals mining industry. With 1.2 million American jobs supported by minerals mining, it is no wonder that women have found a home in mining. According to the Society of Mining, Metallurgy and Exploration, mining is one of a handful of sectors that will add jobs at a fairly consistent rate over the next 20 years –adding between 11,000 and 13,000 jobs per year – and women in mining will grow an amazing nine percent in the field by 2019.”
14. Mining for Jobs in Nevada
“Not only are mining jobs in Nevada plentiful, they are also among the most lucrative professions. The jobs that these companies provide are high-paying and come complete with competitive benefits. As stated by Barrick Gold’s Director of Communications, Lou Schack, ‘Total compensation including benefits in the mining industry is about double the state average… Our benefits package is pretty much unrivaled.’”