September 09, 2022
Affordable and abundant supplies of energy and raw materials are ...
A new U.S. Department of Commerce (DOC) report recommends immediate action to ensure a reliable supply of minerals in the U.S. The report is the culmination of months of collaborative work with various U.S. agencies in response to Executive Order (EO) 13817, “A Federal Strategy to Ensure Secure and Reliable Supplies of Critical Minerals.”
Currently, it can take anywhere from seven to 10 years to obtain a mine permit in the U.S. Permitting delays impair and discourage investment in domestic mining, with one report showing that a mining project’s value can be reduced by a third due to delays. Despite being home to abundant mineral resources, less than half of the minerals U.S. manufacturers need are sourced domestically.
The DOC report underscored the risk factors associated with our import reliance: “The United States is heavily dependent on foreign sources of critical minerals and on foreign supply chains resulting in the potential for strategic vulnerabilities to both our economy and military.”
To solve these problems, the mining industry believes our outdated permitting system could be streamlined through processes such as:
To help secure our nation’s supply chains, our decisionmakers must take action to ensure that the DOC’s recommendations are implemented swiftly. Learn more about the new report here.