July 27, 2012
Yesterday, I authored an op-ed in Roll Call discussing the passag...
Director of Metals Consulting at SNL Metals & Mining Mark Fellows was recently featured in The Hill discussing two key obstacles that face the manufacturing industry: federal regulations and an unreliable domestic supply of raw materials, particularly minerals. Fellows cites his work from our latest study, U.S. Mines to Market, which demonstrates how the inefficient federal mine permitting process is preventing the domestic mining and manufacturing sectors from reaching their full potential as world leaders. Fellows reports:
“A gross structural mismatch exists between domestic mineral supply and demand because of an inefficient permitting system that can delay the development of new mines by a decade or more. Because of the manufacturing sector’s reliance on raw materials, this impediment is a threat to continued and sustained U.S. economic growth.”
As both domestic and foreign manufacturers look to relocate to the United States, our ability to supply the raw materials needed for increased demand remains in question. Although the U.S. is home to immense mineral resources — $6.2 trillion worth — many remain trapped underground because of our lengthy and redundant permitting process and we are currently import-dependent for 19 essential minerals and metals.
The House has recognized this issue by passing “The Strategic and Critical Minerals Production Act,” but Senate legislation is equally as important to ensure that the United States remains a competitor in the global mining and manufacturing industry.
Read more from Fellows here.