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Researched by Industrial Info Resources (Sugar Land, Texas)--Recent attention to domestic critical-minerals mining by the Trump Administration shines a light on a long-standing problem facing U.S. mining firms. President Trump's executive order sets a directive to expedite the permitting and regulatory process which has hampered mining development in the U.S. for years. For details see December 28, 2017, news article - Presidential Order Could Give Boost to U.S. "Critical Minerals" Miners.
In the U.S., the mine permitting process can take an average of five to seven years, and even up to 20 years in some cases. As a result mining firms have chosen to develop projects overseas instead of in the U.S.
One project that will benefit from the order is the $2.8 billion Twin Metals Minnesota project, which in addition to copper and nickel, aims to mine critical-mineral platinum group metals (platinum and palladium). The Department of the Interior recently reinstated the project mining lease agreement that had been previously denied. This has invigorated the project and the permitting process, and preparation of the Environmental Impact Statement can continue. Site studies began on the Twin Metals project prior to 2006, another good example of the elongated permitting process for mining projects in the U.S.
The U.S. has become increasingly reliant on other countries to supply critical minerals needed for manufacturing new technology growth products such as cell phones, ceramics, solar panels, batteries and fuel cells. A report published December 19, 2017, by the United States Geological Survey defines critical minerals as follows: "Mineral commodities that have important uses and no viable substitutes, yet face potential disruption in supply, are defined as critical to the Nation's economic and national security. A mineral commodity's importance and the nature of its supply chain can change with time, such that a mineral commodity that may have been considered critical 25 years ago may not be critical now, and one considered critical now may not be so in the future."
There are 23 critical minerals or mineral groups on the list consisting of: antimony, barite, beryllium, cobalt, fluorine (fluorspar), gallium, germanium, indium, graphite, lithium, manganese, niobium, tantalum, platinum group metals, rare earths, rhenium, selenium, tellurium, tin, titanium, vanadium, zirconium, and hafnium. Many of these minerals are produced as a byproduct in minor concentrations to base metal ores, such as copper and nickel.
Industrial Info has put together an analysis of global critical-minerals projects and is tracking more than 1,000 mining projects involving the development of new mines or expansion/restarts of existing mines. These projects total more than $120 billion in investment value. Cobalt, lithium, platinum group metals, rare earths and titanium mining projects are the top five critical minerals based on the value of projects under development.
Canada, China, South Africa, Australia, the U.S. and Russia are the top six countries for critical-mineral project development.
For access to critical-minerals mining project details, contact Industrial Info at https://www.industrialinfo.com/database/info_request.jsp, or call us at 1-800-762-3361.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
In the U.S., the mine permitting process can take an average of five to seven years, and even up to 20 years in some cases. As a result mining firms have chosen to develop projects overseas instead of in the U.S.
One project that will benefit from the order is the $2.8 billion Twin Metals Minnesota project, which in addition to copper and nickel, aims to mine critical-mineral platinum group metals (platinum and palladium). The Department of the Interior recently reinstated the project mining lease agreement that had been previously denied. This has invigorated the project and the permitting process, and preparation of the Environmental Impact Statement can continue. Site studies began on the Twin Metals project prior to 2006, another good example of the elongated permitting process for mining projects in the U.S.
The U.S. has become increasingly reliant on other countries to supply critical minerals needed for manufacturing new technology growth products such as cell phones, ceramics, solar panels, batteries and fuel cells. A report published December 19, 2017, by the United States Geological Survey defines critical minerals as follows: "Mineral commodities that have important uses and no viable substitutes, yet face potential disruption in supply, are defined as critical to the Nation's economic and national security. A mineral commodity's importance and the nature of its supply chain can change with time, such that a mineral commodity that may have been considered critical 25 years ago may not be critical now, and one considered critical now may not be so in the future."
There are 23 critical minerals or mineral groups on the list consisting of: antimony, barite, beryllium, cobalt, fluorine (fluorspar), gallium, germanium, indium, graphite, lithium, manganese, niobium, tantalum, platinum group metals, rare earths, rhenium, selenium, tellurium, tin, titanium, vanadium, zirconium, and hafnium. Many of these minerals are produced as a byproduct in minor concentrations to base metal ores, such as copper and nickel.
Industrial Info has put together an analysis of global critical-minerals projects and is tracking more than 1,000 mining projects involving the development of new mines or expansion/restarts of existing mines. These projects total more than $120 billion in investment value. Cobalt, lithium, platinum group metals, rare earths and titanium mining projects are the top five critical minerals based on the value of projects under development.
Canada, China, South Africa, Australia, the U.S. and Russia are the top six countries for critical-mineral project development.
For access to critical-minerals mining project details, contact Industrial Info at https://www.industrialinfo.com/database/info_request.jsp, or call us at 1-800-762-3361.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
