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The U.S. has the world’s second-longest mine development timeline, averaging nearly 29 years from first discovery to first production, according to a recent report from S&P Global Market Intelligence.

• Only Zambia has a longer average mine approval time (34 years) than the U.S.

The research: The report, released in June, compares “the time taken to develop a mine from discovery to production” in the U.S. to the time the same process takes in Canada and Australia. Among the standout takeaways:

• Mine development in the U.S. is not only expensive but also uncertain. “While developing a mine in Canada or Australia can also take a long time, with respective average times of 27 and 20 years, those mines do reliably enter production. In the U.S., even if mines receive all required permits, they are subject to higher litigation risk.”
• The difference in development times is made “starker in the context of the U.S.’s endowments of the strategically important metals that will be needed for energy transition.” For example, total U.S. copper reserves and resources are comparable to those of Australia and Canada combined.

Why it’s problematic: The U.S. is failing to achieve its “mineral potential.” If it does not develop these resources fully, it “will remain reliant on external sourcing for the metals critical to its energy transition.”

• U.S. mines coming online have become the exception, not the rule, in recent years. In the past 22 years, just three American mines have come online.

Permitting problems: Permitting “has become a huge stumbling block for the development of … mineral resources,” according to the report, echoing the NAM’s ongoing calls for permitting reform.

The NAM’s view: “Our broken permitting system continues to have serious negative repercussions for our domestic mining sector and the supply chains that rely on these critical raw materials,” said NAM Vice President of Domestic Policy Chris Phalen.

• “The NAM will continue to advocate for commonsense reforms that support efficient and responsible domestic production, processing and supply chains.”