Recently, President Trump announced a $1 trillion plan to fix the nation’s roads, bridges, dams, and airports. And while Congressional approval may hinge on the specifics of funding these projects, Americans should be concerned with whether the country can obtain sufficient metals and minerals to undertake such a large effort.
There’s no doubt that a robust plan to rebuild America’s declining infrastructure could spur activity and employment throughout the economy. And thankfully, America enjoys a particularly rich endowment of the copper, nickel, zinc, and other metals that serve as building blocks for new roads, bridges, and dams. But acquiring enough raw materials in a timely fashion may prove problematic since America’s mining operations are currently beset with a number of obstacles.
For starters, access to the mineral resources needed for infrastructure renewal could well be thwarted by conflicting and duplicative mine permit reviews conducted by multiple federal and state agencies. It currently takes seven to 10 years for companies to successfully obtain the necessary permits for a major new mining operation. Such delays have become the inevitable outgrowth of too many agencies moving too much paperwork too slowly. President Trump acknowledged this problem recently when he contrasted current permit delays with the comparatively brief five-year timespan needed to build the famed Hoover Dam. In the current mining environment, it would take more than five years simply to open new mines that could provide the requisite metals and materials for the dam itself.
Read the full op-ed here.