Mining Industry’s View: Let Mining Boost State Manufacturing
Duluth News Tribune
Opinion: Hal Quinn
Despite the boon existing iron ore operations provide, Minnesota has yet to come close to realizing the full economic potential of its mineral resources. This is because an outdated and duplicative federal permitting process for minerals mines deters investors from developing projects here and keeps valuable state resources locked in the ground.
The same is true across the U.S. Our nation holds more than $6.2 trillion worth of key minerals that are not being utilized in large part because investors are hesitant to jeopardize their investments in the face of America’s lengthy and uncertain permitting process. Investors instead seek out foreign mineral projects that can be swiftly approved. In the process they pour money into foreign work forces and offshore manufacturing operations.
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