Senate Approves Energy Bill Needed to Unlock Mineral Resources

Posted on April 21, 2016 by Minerals Make Life

The U.S. Senate passed the “Energy Policy Modernization Act of 2016” this week. Spearheaded by Sen. Lisa Murkowski (R-Alaska), this energy bill contains provisions that will improve access to the U.S. mineral resources supply by streamlining the minerals mine permitting process.

In a recent press release, National Mining Association President and CEO Hal Quinn stated:

“We applaud the Senate for advancing policies that responsibly utilize our significant resource abundance in order to strengthen both our energy supply and economy.”

Minerals are essential to the development and production of nearly all energy sources and technologies—like nuclear, wind and solar power. Unfortunately, the current mine permitting process is duplicative and cumbersome, creating unnecessary delays that can last up to 10 years. Despite having one of the richest mineral deposits in the world, the U.S. has fallen from the world’s top producer of minerals to 7th place since 1990.

The approved energy bill will help secure the nation’s energy future by improving the mine permitting process and unlocking the $6.2 trillion worth of U.S. mineral resources. Access to the nation’s mineral resource supply is vital to meeting the increasing energy demand, which is expected to double in less than 25 years.

This bill is also an essential step to energizing the U.S. economy. The mining industry alone provides 1.3 million jobs and generates $46 billion in federal, state and local taxes. The minerals it produces are fundamental to technological innovation, manufacturing and the infrastructure upon which we rely.

Minerals Make Life commends U.S. policymakers for their bipartisan efforts that lead to passing this critical energy bill. The U.S. House and the Senate now must continue making progress towards delivering comprehensive mineral reform legislation to the president.

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