June 15, 2015
Harry Moser, founder and president of the Reshoring Initiative,...
Late last week, CNBC provided a detailed report on the manufacturing renaissance that is booming in the Midwest, particularly in Indiana, Ohio and Illinois, according to data from the National Association of Manufacturers. As manufacturing companies bring their operations back to the United States, we’re seeing job creation and economic growth across the country.
So why is this important to minerals mining? Mining is the bedrock of manufacturing. Without mining, manufacturers wouldn’t be able to produce the technologies Americans use every day. From hybrid cars to medical devices and high-tech electronics, metals and minerals are vital to the makeup of today’s modern technologies and manufacturing processes. The automotive industry, for example, added $15.5 billion to Indiana’s economy in 2012 alone. Gold, platinum and aluminum are just a few examples of the minerals needed to produce everything from a car’s mirror to its body frame to its engine.
The importance of minerals to manufacturing cannot be understated. Nevertheless, the current U.S. mine permitting process makes it difficult for domestic manufacturers to access the materials they need. In fact, according to a recent survey, a large majority of U.S. manufacturing executives are concerned about the issue of minerals and metals supply, and 95 percent of them cited delays in U.S. permitting for new minerals mines as a top concern. The inefficient and duplicative mine permitting process in the U.S. hinders manufacturers from getting the raw materials they need when they need them. This forces manufacturers to look outside our borders for critical minerals and metals, which increases our dependence on mineral imports.
Thankfully, there is growing recognition in Washington of the need for minerals mining policy reform. For example, just last week, the House Committee on Natural Resources held a hearing to discuss Rep. Mark Amodei’s (R-Nev.) “National Strategic Critical Minerals Production Act of 2015,” which will make improve access to the nation’s $6.2 trillion worth of minerals and ultimately boost U.S. manufacturing and our economy.
To learn more about the United States’ manufacturing renaissance, read here, and watch our video below to learn more about mining’s contribution to manufacturing.