This month, the National Mining Association and its member companies celebrate the important role of America’s manufacturing workforce, and the mineral inputs they need to create the goods and services we all depend on each day. As mineral demands skyrocket with the ever-intensifying uptake of electric vehicles and alternative energy technologies, minerals are set to be the next currency as countries work to shore up their supply chains. To protect the backbone of the American economy, we ask for your support to address looming threats to domestic mining and manufacturing. With commonsense policy changes, U.S. mining can provide the raw materials required for a ‘made-in-America’ manufacturing industry.
America’s mining and manufacturing industries are inextricably connected. And when one link in our supply chain is weakened, entire industries suffer. Our nation’s overreliance on imported minerals is going to continue to haunt us in the years ahead as global mineral demand increases exponentially.
The challenge isn’t that we don’t have enough minerals – it’s that current policies and processes prevent us from accessing them in a timely manner. The U.S. is home to an estimated $6.2 trillion worth of mineral resources, but last year, our country imported roughly $90 billion worth of minerals. It’s time we stopped forfeiting economic value that could have been pumped back into our economy.
Modern manufacturing relies on minerals like gold, silver and platinum. In fact, platinum is used in more than 20 percent of all manufactured goods. Unfortunately, the U.S. imported $2.45 billion worth of platinum from Russia last year. If this continues, it will inevitably lead to higher mineral prices resulting in higher prices for products and services.
There is no debating the fact that we are living in the most mineral-intensive time in history. The longer we wait to address our self-imposed permitting bottlenecks, the further we fall behind competitors. The government has acted in broad strokes to address our alarming import overreliance, but it hasn’t been enough. Recent weeks have seen proposals from both parties, including Senators Joe Manchin and Shelly Moore Capito, and Representatives Cathy McMorris Rodgers and Pete Stauber. We must build upon this momentum and continue working with Congress to deliver for the American people. It’s high time we come together to revolutionize America’s permitting policies and get ourselves back on track.
If you agree, voice your support here.
NMA President and CEO