By Utah Mining Association
Minerals provide the raw materials required for nearly every industry and consumer product, feeding our manufacturing, defense, medical and energy supply chains. They inspire the innovation of new technologies, and are vital to our national security. They propel our economy and enable America to compete globally.
Mineral Facts
Minerals – The technologies that define innovation today all depend on a growing number of minerals. The World Bank estimates that mineral demands could grow 500 to 1,000 percent by the year 2050 to meet the demands from wind, solar and geothermal power, and energy storage technologies.
- Jobs – 1.4 million American jobs are supported by minerals mining. 498,000 people are directly employed, and 881,000 are indirectly employed.
- Wages – A job in U.S. metals mineral mining is one of the highest paying in the private sector with an average salary of over $95,000 a year (68 percent higher than the combined average for all industrial jobs) and often climbing well above $100,000 for experienced workers.
- Value – $710 billion worth of processed mineral materials were used by sectors including construction, manufacturing and agriculture to add nearly $3.0 trillion to the U.S. economy.
Despite the benefits provided by domestic minerals mining, the U.S. is not performing to its minerals potential. American manufacturers currently rely on foreign suppliers for more than half the minerals they use. Our ability to put our minerals to work is hindered by a costly and inefficient regulatory structure that thwarts investment and expansion.
Consider:
The percentage of worldwide exploration spending commanded by the U.S. for metals mining has dropped from 20 percent of total investments in 1993 to only 11 percent today.- The U.S. is 100 percent dependent on imports for 17 different minerals and more than 50 percent import dependent for an additional 29 mineral commodities.
These trends are unsustainable in a highly competitive world economy where the growing demand for minerals and the need for supply stability is a growing concern. We need to address the length, complexity and uncertainty of the permitting process that is driving investment from U.S. shores. A duplicative permitting process that takes five to ten years to navigate puts the U.S. last among top mining countries when ranked on mining permitting delays.
As Congress begins to address the President’s plan, any infrastructure push aimed at bringing stability and growth to our economy and strengthening our supply chains would be well-served to ensure those efforts are supplied with American-mined materials. From highways to bridges, water systems to broadband, electricity grids and charging networks – America’s infrastructure projects begin with mining. Despite being home to some of the world’s richest mineral reserves and abundant supplies of steelmaking metallurgical coal, we continue to source the raw materials required for America’s infrastructure and manufacturing from other countries. If policymakers want to create high-paying jobs and support economic security while reshoring the nation’s industrial base, made-in-America infrastructure should begin with American mining.
