The following statement was released today by National Mining Association (NMA) President and CEO Hal Quinn applauding the House passage of Rep. Mark Amodei’s (R-Nev.) “National Strategic and Critical Minerals Production Act of 2015:”
“Congressman Amodei’s bill, passed by the House today, will bring the U.S. mine permitting system into the 21st century and help boost the country’s economy and manufacturing renaissance.
“While America is home to $6.2 trillion worth of mineral resources, a lengthy and duplicative federal permitting process discourages investment and jeopardizes the growth of downstream industries, high-wage jobs and technological innovation that all depend on a secure and reliable mineral supply chain. In fact, an NMA-commissioned study by SNL Metals & Mining found that chronic permitting delays averaging seven to 10 years reduced a mine’s value by a third. And the increased costs and risks posed by these delays could, in turn, cut the expected value of a mining project by half.
“With these findings, it is no small wonder America’s dependence on mineral imports has doubled over the past 20 years. Today, less than half of the mineral needs of U.S. manufacturing are met from domestically mined minerals. These trends will only worsen if we do not advance policies that enable U.S. mining to perform to its full potential.
“And when U.S. mining thrives, so does our manufacturing sector. America’s manufacturing CEOs have recognized that using our country’s minerals responsibly and efficiently is a national priority for strengthening our manufacturing base and the jobs it provides.
“NMA applauds the House for passing this bi-partisan legislation that carefully addresses the inefficiencies of our underperforming permitting system by incorporating best practices for improving coordination among state and federal agencies, clarifying responsibilities, avoiding duplication, setting timeframes and bringing badly needed accountability to the process – all without compromising our rigorous environmental standards.”