The U.S. Faces A Mining Crisis—This Is What We Must Do To Escape Our Dependence On China

The US sits on some of the richest mineral deposits on Earth, yet it takes longer to open a new mine here than almost anywhere else on the planet, twenty-nine years from discovery to production, according to a study from S&P Global.

The Trump administration, unlike its predecessor, is deeply concerned about our dependence on China for critical minerals.

This past Friday, President Trump convened a mining industry roundtable of some two hundred mining industry leaders and administration officials.

The purpose, intensify efforts to secure access to critical minerals and lay the foundations for a robust mining industry in the future.

The meeting is the latest effort of the administration to deal with the crisis.

Getting a mine operating isn't about geology or economics, it's about process.

Permitting a loan eats up to seven to ten years on average, and that's before construction even begins.

The core issue is duplication.

A single mine can require sign-off under the National Environmental Policy Act, the Clean Water Act, the Endangered Species Act, the Clean Air Act, and a web of state rules, often administered by different federal agencies with overlapping and sometimes conflicting jurisdiction.

Unlike Canada or Australia, the US has no single office charged with coordinating these reviews.

Litigation compounds the problem even after a mine clears every permit.

It can be hit with seemingly endless lawsuits.

Some projects, like Arizona's Rosemont Copper Mine, have lost millions and billions in value simply waiting out years of court fights.

No wonder investors have shied away.

Over the past fifteen years, exploration spending in Australia and Canada has vastly outpaced the US's, despite comparable mineral reserves.

It takes a fraction of the time to get a mine fully operating in those countries than it does here.