The U.S. is forecast to become the leading nation globally in manufacturing, surpassing the most renowned high manufacturers such as China. This will be catalyzed by the sufficient workforce, the new technologies, and the low energy costs. Though this may be good news to the manufacturers, some challenges must be seriously addressed.
The American manufacturing industries are using varieties of metals and minerals in producing most of their products. Cell phones, electric car batteries, lifesaving hospital devices, and televisions are all manufactured from these metals and minerals. However, most of these minerals are imported and are not mined locally by the U.S. The surveys have shown that America is 100% dependent on minerals from other nations. This dependence makes the manufacturing industries experience great nightmares as it has some impacts, especially in the cost of production.
Amending mining rules in America
Most of the mining industries are concerned about the irregular supply of minerals from other nations. The trend in collecting new raw materials is posing a great danger to the sectors that solely rely on those minerals. Furthermore, not all countries are blessed with vast minerals like the U.S., and depending on them may inconvenience the manufacturing industries in the U.S. Therefore, the mining regulations in the U.S. need to be reviewed again.
The U.S. possesses several minerals worth trillions of dollars, yet they spend billions of dollars every year importing those same minerals. It would be best if the dependency on importing the minerals is tackled once and for all. America needs to stop the overdependence on importing the minerals by amending the repetitive and impertinent mining license permits. For example, to gain a new mining permit in the U.S. will take several years (7-10) to be successful, while it will take only two years to get such a license in Australia and Canada. The two countries have the same environmental protection measures as the U.S., yet obtaining a license there is not cumbersome like in the U.S.
If the U.S. mining laws can be revised, eliminating all the duplication processes, the mining sector can still maintain all the environmental standards and even attract other investors. By doing this, it will not only aid America produces enough minerals and metals, but it will also offer employment to the middle-class citizens and enough goods will also be produced.
American views on amending the mining laws
More than 65% of the Americans are for these rules to be amended. Furthermore, it won’t be difficult doing that since a new legislation on mining has already been tabled in the Senate and the House. The players in the mining industry are advocating for the reduction of time in acquiring mining licenses. Revising the mining rules to favor both the federal and state governments as well as the mining industries will be a win-win situation for all concerned. Experts say sector players like Kingman Minerals Ltd. (TSX.V: KGS) look forward to the day the mining regulations in the U.S. are overhauled so that the vast mineral resources can be used to develop the country even more.
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