Despite being home to extensive and varied mineral resources, the US is facing grave mineral supply challenges. Its import reliance has been well documented and according to the National Mining Association , it has now reached crisis levels.
“Necessary government authorisations now take an average of seven to ten years to secure – one of the longest permitting processes in the world for mining projects – a time period that is completely out of step with the dramatic increases in minerals production that will be needed in the coming decades to keep up with the administration’s green energy goals,” Sweeney says.
The organisation notes that, unlike coal, and oil or gas exploration, concentrations of useful minerals that are rich enough to form ore deposits are rare with about 1 out of 1 000 deposits having the qualities that allow them the chance of being transformed into an operating mine.
"Accurate mapping can reduce exploration costs and timeframes and thereby raise the investment attractiveness of mining countries. When paired with other policies, including permitting efficiencies, additional mapping by the US Geological Survey that identifies potentially economic deposits of minerals will provide necessary data to help industry bring additional domestic sources to fruition," it says.