Mineral And Mining Legislation Highly Likely To Hamper US Business

Analytic Question:

How will mineral and mining legislation affect United States businesses in the next three to five years?

Overall Finding:

It is highly likely that mineral and mining legislation will hamper the US business sector over the next three to five years.

Key Findings:

• Re-opening dormant mines will likely remain the most attractive method to procure strategic minerals domestically
• Mining industry must adhere to over 80 laws through 20 agencies
• Opening mines in the US takes, on average, seven years
• It is likely that the effects of the Dodd-Franks bill on conflict minerals will be far-reaching, across many industries. 
• Dodd-Franks legislation creates a competitive disadvantage for US public industries
• US industries could incur between USD 3 and 4 billion in implementing Dodd-Franks legislation
• It is likely that passage of US Congressional bills relating to strategic and rare earth minerals would improve the job market; however it is unlikely legislation will be implemented
• Only 29 percent of bills sent to the floor for a vote pass both the US Senate and Congress
• Ten strategic mineral-related bills have been introduced to the 112th Congress
• In spite of growing non-Chinese supply of minerals, US businesses are likely to remain heavily dependent on Chinese rare-earth sources.
• A number of strategic minerals, including Rare Earths, are 100 percent imported
• China supplies 79 percent of the rare earths used by US industries, increasing trade tensions

Mineral and Mining Legislation Highly Likely to Hamper US Businesses