Minerals and the election; permitting reform during lame duck

What You Need to Know

• The mining industry looks forward to working with the Trump administration and 119^th Congress to strengthen our domestic supply chains
• The current Congress has an opportunity to pass historic reform by moving the Energy Permitting Reform Act of 2024 in the Lame Duck session, helping to break our reliance for minerals imports from geopolitical rivals

LETTER FROM THE PRESIDENT AND CEO

November 21, 2024
Dear Friend,

With the election decided, we look forward to working with incoming Trump administration and 119^th Congress to advance mining policy that will bolster domestic minerals supply chains and ensure a prosperous economy and strong national defense. With conversations surrounding the fate of the Inflation Reduction Act (IRA), one easy win for domestic mineral production would be expanding the 45X Advanced Manufacturing Production Credit to all extraction and to exclude ore sourced from foreign entities of concern. The Treasury Department’s recent guidance limits the extraction portion of the credit to those who also refine materials, leaving many important extraction projects by the wayside. The credit is also available to U.S. processors, regardless of where they source the ore. Legislators must remember that there is no processing without mining and no true supply chain security without domestic sourcing.

While we plan for 2025, there is still critical work to be done before the 118^th Congress adjourns. We urge passage of the Energy Permitting Reform Act of 2024, the Good Samaritan Remediation of Abandoned Hardrock Mines Act of 2024 and the Mining Schools Act  before the year’s end. China continues to expand its dominance over resources while advanced energy development drives a historic minerals demand, and we cannot afford to wait. The U.S. mining industry upholds world-leading environmental and labor practices, yet we have the second longest lead time in the world for bringing minerals mines into production. Our permitting policy should reflect the urgent need to secure our supply chains, and make us competitive against geopolitical rivals.

The last two presidential administrations have turned to tariffs to check China’s power over resources, but this alone is not enough to strengthen the United States’ minerals supplies. In September, President Biden instituted a slew of high tariffs on mineral-intensive products including advanced energy technology and EVs, as well as certain minerals. Without building a stronger U.S. minerals infrastructure, these tariffs will not provide the incentives needed to bolster domestic production in a meaningful way.

Thank you,

Rich Nolan
NMA President and CEO