- Press Releases
- SNL Study Underscores Importance of Minerals to Manufacturing and U.S. Competitiveness
September 24, 2014
Notes that inefficient permitting process impedes investment
Washington, D.C. – The National Mining Association (NMA) today released U.S. Mines to Market, a report by SNL Metals & Mining. The study, commissioned by NMA, tracks the minerals mined and refined in the United States through to their end-use in finished products. Key findings demonstrate the extent to which minerals produced in the United States feed the domestic manufacturing industry and influence the success of almost every sector including—but not limited to—high-tech, automotive, national defense, energy and medical.
The study found that while the U.S. mining sector is positioned to support manufacturers’ needs for greater sustainability and shorter supply chains, the permitting process for new minerals mines in the United States is inefficient, duplicative and impedes investment. Despite steady growth in U.S. manufacturing industries, a gross structural mismatch exists between mineral supply and demand, impeding U.S. competitiveness and the potential for growth in the mining sector and in overall GDP.
Mark Fellows, study author and director of metals consulting at SNL Metals & Mining, and Katie Sweeney, NMA senior vice president of legal affairs and general counsel, briefed the House Committee on Natural Resources and the Senate Committee on Energy & Natural Resources on key findings that link domestic minerals production to the vitality of the U.S. manufacturing industry. Additionally, Mr. Fellows and NMA President and CEO Hal Quinn will discuss these findings with industry thought leaders from the manufacturing, automotive and high-tech sectors at an NMA luncheon on Thursday, Sept. 25.
U.S. Mines to Market is further evidence that Congress must act on this important issue. The House just passed “The Strategic and Critical Minerals Production Act” for the third time, and NMA urges the Senate to take up similar legislation to foster U.S. competitiveness and innovation.