In the U.S., the process to obtain mine permits can take upwards of seven to 10 years. Compare that to countries like Canada and Australia, whose modern minerals-permitting policies enable them to complete the process in two to three years while following similarly stringent environmental standards.
As a result of the lengthy, costly and inefficient permitting process, businesses invest in countries with shorter permitting processes and U.S. manufacturers are forced to rely on mineral imports. In fact, our nation’s dependence on mineral imports—many of which we could mine here at home—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.
DTR Price at posting:
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