New Report Showing Increased Reshoring Means Greater U.S. Minerals Demand
April 30, 2015
New Report Showing Increased Reshoring Means Greater U.S. Miner...
Unfortunately, manufacturing companies in the U.S. have moved their production and accompany jobs overseas in recent years. Luckily though, Harry Moser, founder and president of the Reshoring Initiative, is committed to bringing manufacturing back to American soil to accelerate job growth and support a stronger economy here at home.
So what does this mean for minerals mining? There is a strong connection between mining and manufacturing, and minerals mining has an important role to play in bringing these manufacturers and jobs home. Moser states in a new video, “Every manufacturing operation in the U.S. uses minerals—either as the material that they’re producing or the tools they use to produce the material.” As the U.S. manufacturing sector grows, so does the demand for more minerals, and to keep American manufacturing growing it’s important that the U.S. has a secure, stable and reliable mineral supply in place so manufacturers can obtain the minerals they need when they need them.
“My goal is to balance the trade deficit,” Moser adds, “To bring back $500 to $600 billion dollars a year worth of manufacturing. That will increase U.S. manufacturing by 30 percent, which will require about 30 percent more minerals.”
However, the current mine permitting process in the U.S. makes it difficult for manufacturers to get the materials domestic manufacturers need. In fact, in the U.S. it takes on average seven to 10 years to permit a new mine, which is “slower than any other nation,” Moser explains. Despite the fact that our country sits on well over $6 trillion worth of mineral reserves, the United States has fallen from 1st place to 7th place in terms of minerals and metals production because of the current permitting policy in place.
“Production of more minerals in the U.S. is possible. We have $6 trillion worth of reserves. Nevertheless the number of minerals on which we're 100% reliant on imports has gone from eight in 1995 to 19 today. And now 91% of executives are concerned about the risks to their extended supply chains. A major reason we've fallen behind in mining is because of the policies and regulations that keep us from being a competitive mining country.”
The U.S is lagging behind in its mineral production, and we continue to increase our dependence on mineral imports because of the lengthy and redundant permitting policies presently in place. The connection between American manufacturing and minerals is simple: If we want more ‘Made in America,’ we must support ‘Mined in America.’ By doing so, we create jobs, encourage reshoring and make U.S. manufacturing more competitive. It’s essential that Congress supports mine permitting reform legislation and works to streamline the U.S. mine permitting process.
Learn more from Harry Moser in the video below, and take action here to support mine permitting reform.