Incoming president Donald Trump has announced fast-track approval for any company investing US$1 billion, or more, into the United States.
“Any person or company investing ONE BILLION DOLLARS, OR MORE, in the United States of America, will receive fully expedited approvals and permits, including, but in no way limited to, all Environmental approvals. GET READY TO ROCK!!!”
While no more details have been given, the generalised wording suggests this would also include mining and refining, energy plants (such as nuclear, natural gas, etc) as well as data centers, gigafactory plants.
In the election campaign, Trump pledged to redirect financing for what he described as “the green new scam” to roads, bridges, and other infrastructure. Instead, he has promised to “drill, baby drill.”
Currently, The US has the second longest mine development times in the world, at almost 29 years on average from first discovery to first production, according to a report by S&P Global.
One of the big question on Trump’s presidency concerned how he plans to resolve the tensions in his expected political agenda, from securing supply chains to removing electric vehicle tax credits to allowing Tesla to stay competitive.
The US does currently have a fast-track permitting process, FAST-41, for mining. The US$1.7 billion South32 Hermosa Critical Minerals project, a proposed zinc and manganese mining and processing operation located 55 miles south of Tucson, Arizona, was the first project to receive FAST-41 coverage. The Biden administration narrowed the eligibility of mines for FAST-41 to those deemed critical by the Interior Department.
The upcoming International Critical Minerals Expo & CMI Summit IV (ICMI), themed The War for Critical Minerals and Capital Resources, is scheduled to take place in Pasadena, California, on May 14-15, 2025. This event aims to unite industry leaders to tackle pressing issues in the global critical minerals market. To learn more about the ICMI, click here
Leave a Reply