Behre Dolbear Ranks US Last in Where to Invest for Mining
The esteemed mining industry advisory firm Behre Dolbear just released its annual political assessment of the global mining industry, "2013 Ranking of Countries for Mining Investment: Where Not to Invest".
For the second year in a row, the U.S. remains tied for last place with Papua New Guinea on permitting delays - an indicator of the time it takes to bring a new mine online.
According to the report, "Permitting delays are the most significant risk to mining projects in the United States...[which are] negatively impacted by federal rules that they are bound to enforce resulting in a 7- to 10-year waiting period before mine development can begin."
Daniel McGroarty, President of American Resources Policy Network, issued the following statement in response:
"Just 4 years ago, in 2009, the same study found that the U.S. permitting process took an average of 5 to 7 years. Today, it's 7 to 10 years - a 40 percent increase in delays. Thanks to onerous federal rules on U.S. mine permitting, we are mired in last place with Papua New Guinea for the second year in a row. Meanwhile, other mining nations are leveraging their mineral resources to fuel manufacturing, drive economic growth, and create jobs without sacrificing environmental protections.
"This is deeply troubling at a time when other U.S. government agencies are recognizing the need to increase access to strategic and critical minerals. The Department of Defense recently released a study showing 23 metals and minerals in potential shortfall, and recommended for the first time since the Cold War that Congress take actions to stockpile them. And the Department of Energy has declared a dozen minerals critical to America's green-tech and clean-energy transition.
"The Obama administration should take these findings very seriously. Permitting delays are handicapping America in the global resource wars. There is a direct link between domestic resource development and U.S. national security, manufacturing competitiveness, and the ability to innovate across numerous sectors of the economy."
The 2013 Behre Dolbear report is available here: http://www.dolbear.com/_
It takes 7-10 years to develop a U.S. mine. In Australia, it's 1-2 years. That's especially bad news when the Pentagon, Department of Energy, and the White House are clamoring for critical minerals and metals to power America's defense, manufacturing and green-tech sectors. Plenty of these resources can be found right here at home.