Could the 2024 US Election Revive the Bureau of Mines?
October 28, 2024 - Scattered” is the Society for Mining, Metallurgy and Exploration’s (SME) description of the current governance of the US mining sector and the nation’s minerals policy development.
As the US presidential election approaches on 5 November, the SME has published a concept paper from an industry roundtable calling for the establishment of a new federal mining entity named the National Materials and Minerals Council (NMMC).
Since the closure of the US Bureau of Mines (USBM) in 1996, the nation has had no centralized federal organization dedicated to mining and minerals. Instead, industry governance is split between a labyrinth of executive branch departments and agencies including agriculture, energy, labor and defense.
Almost 30 years after the USBM was shut down, the US has become embroiled in the global race to secure supplies of critical minerals. The nation’s anxieties over establishing a resilient minerals supply chain are exacerbated by its complicated bureaucratic ecosystem.
The concept paper highlights the catch-22 of the US’ overreliance on mineral exports from “adversarial nations” such as China and the importance of critical minerals for vital sectors such as defense and energy that aid national security.
Securing critical minerals independence and the creation of the proposed NMMC will be influenced by the presidential election result.