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A Study Quantifies Just How Much Mine-Permit Delays Can Discourage Investment


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(OPEN):
INEFFICIENCIES IN AMERICA'S MINE-PERMITTING PROCESS CAN END UP DELAYING PROJECTS FOR AT LEAST A DECADE--AND ARE HINDERING THE NATION'S ABILITY TO MEET A RISING DEMAND FOR DOMESTIC MINERALS.  THAT'S ACCORDING TO A RECENTLY RELEASED STUDY THAT LOOKED AT THREE MINES--IN ARIZONA, ALASKA, AND MINNESOTA.  KATIE SWEENEY IS WITH THE "NATIONAL MINING ASSOCIATION"--WHICH COMMISSIONED THE REPORT...

(SWEENEY):
"
WE'VE WITNESSED AMERICA'S MINES STRUGGLE TO MOVE FORWARD--DUE TO AN INEFFICIENT PERMITTING-SYSTEM THAT'S PLAGUED BY DUPLICATION, UNCERTAINTY, AND DELAYS.  NOW, THIS STUDY CONFIRMS THE CONNECTION BETWEEN THESE DELAYS AND COMPANIES' DECISIONS TO INVEST IN DOMESTIC MINING-PROJECTS:  IT FINDS THAT AN AVERAGE MINE CAN LOSE A THIRD OF ITS VALUE, DUE TO PERMIT-DELAYS.  IT ALSO FINDS THAT THE INCREASED COST AND INVESTMENT-RISK FROM THESE DELAYS CAN, IN TURN, CUT THE EXPECTED VALUE OF A MINE IN HALF.  THIS EFFECT IS COMPOUNDED, AS THE DELAYS INCREASE--AND A PROJECT OFTEN BECOMES UNVIABLE, AFTER SEVERAL YEARS OF DELAY.  HOPEFULLY, OUR REPORT WILL STRENGTHEN THE RESOLVE OF CONGRESS TO FIX THIS BROKEN SYSTEM--WHICH THREATENS TO BREAK DOWN THE SUPPLY OF MINERALS THAT ARE CRITICAL FOR OUR NATION'S MANUFACTURING."

(CLOSE):
TO LEARN MORE ABOUT THE REPORT, VISIT "N-M-A"-DOT-ORG.



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