June 27, 2014
In an effort to promote the domestic production of critical min...
Yesterday, the House Subcommittee on Energy and Mineral Resources held an oversight hearing on critical minerals encouraging the Senate to take up legislation that will bolster America’s national and economic security, create jobs, and reduce America’s reliance on foreign countries. And recognizing this opportunity, a diverse group of 38 companies and organizations, representing nearly every sector of the American economy, recently asked Congress to send critical minerals legislation to President Barack Obama for his signature.
The panel of witnesses comprised of Dr. Anthony Ku, a senior scientist from General Electric; Mr. Jerry Pyatt, president and CEO of The Doe Run Company; Mr. Mark Fellows of SNL Metals & Mining; Mr. Brett Lambert, senior fellow at National Defense Laboratory Association; and Dr. Eric Peterson, scientist and researcher at Idaho National Laboratory. Each of these witnesses discussed the importance of critical minerals to manufacturing, critical minerals’ impact on modern and future technologies, the need for U.S. mineral independence and reformed permitting processes.
The National Mining Association released yesterday:
“With better access to the $6.2 trillion worth of raw materials found right here in the United States –including copper, gold, silver, zinc, beryllium, iron ore and platinum group metals – manufacturers would find greater incentive to return to our shores. According to preliminary research findings in an SNL Metals and Mining report commissioned by NMA, the use of domestically-sourced minerals could shorten manufacturers’ supply chains, reduce logistical and transportation costs, ensure environmental and social accountability of sourced materials and better cushion companies against supply disruption risks… However, as outlined in today’s hearing, much of our resources remain locked underground by an outdated mining permitting system plagued by unnecessary delays and redundancies at the local, state and federal levels. In order to provide every opportunity for domestic manufacturers, NMA strongly urges members of Congress to work together to ensure timely, responsible access to U.S. mineral and metal resources.”
As the U.S. manufacturing industry expands and demands a greater supply of raw materials, legislation should allow for easier access and exploration of U.S. mineral resources. NMA and its partners are encouraged by yesterday’s House subcommittee hearing, as it demonstrates growing recognition among policymakers, industry leaders and security experts that America needs a strong and stable supply of domestic minerals.