US Congress ready to fix mineral supply problem with 5 game-changing solutions
Both political parties in Congress agree on fixing US mineral supply chains. A set of five non-standard solutions could help reduce foreign dependency and boost domestic mineral production
In todays divided political world Congress shows rare unity about US mineral supplies. Both parties want to make the country less dependent on foreign mineral sources
Here are the main steps lawmakers could take:
- More stockpiling of key minerals
- Faster permits for new projects
- Better funding for mining education
- Clearer supply-chain tracking
- New mineral management office
The Senate defense group already put aside $600M for mineral stockpiling (showing how serious they are about this). They want to add more minerals like copper to the list - which isnt currently stored. China uses its stockpiles to control market prices; so US could do the same
Education and workforce issues need quick fixing. The Mining Schools Act supporters point out a big problem: almost 40% less mining graduates since 8 years ago and half of todays miners will stop working in about 5 years. The government could give money to schools that teach mining-related stuff
Permit process changes are also coming. Senator Joe Manchin proposed new rules that would speed-up project reviews. The Institute for Progress thinks there should be time-limits on how long courts can stop construction projects - which would make things move faster
Defense stuff needs better tracking too. Right now they only track where magnets come from; but they could do the same for ships and weapons. Its important because some countries (like China) shouldnt be selling certain materials to US military
Finally theres talk about bringing back something like the Bureau of Mines - which closed down in mid-90s. This new office could help speed up project permits since current offices dont have enough experts. It would be different from the old one that mostly focused on safety
