March 27, 2014
This week, National Mining Association President and CEO Hal Qu...
In the latest issue of Energy & Mining International, National Mining Association (NMA) President and CEO Hal Quinn discusses America’s outdated permitting policy and inefficient regulatory framework, which hinder mining projects and deter resource investment in the United States.
“As a result of declining investment in U.S. mineral development along with an inefficient permitting system, American manufacturers are forced to rely on other countries for more than half of the minerals they need and are increasingly challenged by unstable supply chains. Case in point: in 1993, the United States attracted 20 percent of worldwide metals exploration investment dollars, compared to just 8 percent today. And just last year, the importing of metals and mineral materials cost the United Sated $153 billion, not to mention the revenue and high-paying jobs the country forfeited because of dwindling investment and stalled projects.”
In 2013, the estimated value of mineral raw materials produced at mines in the United States was $74.3 billion. As Quinn puts it, “where mining thrives, economic strength follows.” U.S. mineral and metal reserves, including iron, platinum, zinc and potash, are critical to many American industries particularly in “manufacturing, energy, agriculture and defense.” With a more efficient minerals mining permitting policy, our nation can enjoy enormous growth and job-creation opportunities, support the domestic manufacturing revival and attract global investment dollars.
“It’s time for U.S. policymakers to appreciate the competitive world we live in – and the enormous opportunities that allow us to use our minerals wealth responsibly,” Quinn said.