The National Mining Association’s (NMA) President and CEO Rich Nolan commented on updated guidance issued today by the Department of the Treasury on the “Section 45X Advanced Manufacturing Production Credit.”
“Supply chain security begins in the mine. While this updated guidance begins to reflect the clear intent of Congress to bolster the nation’s mineral supply chains and address a glaring strategic vulnerability, Treasury’s decision to limit the credit to those producers who also refine materials will prevent many important projects from benefitting from the credit as Congress intended. We have an urgent need to level the playing field for American producers against Chinese and Russian efforts to dominate global mineral supplies by flooding the markets with oversupply of cheap minerals produced under questionable environmental, labor and safety standards; by making U.S. processed, foreign sourced materials available for the credit we’re not solving the problem. Made-in-America should also mean mined-in-America and the miners who secure the very first link in our supply chains should benefit from the same credits as the entities that refine their materials.”
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