A growing global population relying on greater combinations of minerals have increased U.S. manufacturers’ minerals/metals demands.
RENO (MINEWEB) – A survey of 400 senior executives in the U.S, manufacturing sector or industries heavily impacted by manufacturing determined that more than 90% of them are concerned about the U.S. minerals and metals supply.
“The issue of minerals and metals supply is a growing concern among U.S. businesses, as U.S. manufacturers currently rely on foreign countries for more than half of the minerals and metals they use,” said the Edelman-Berland survey, Mining: The Foundation of U.S. Manufacturing.
Those executives are also concerned about supply disruptions outside of their control, “citing geopolitics and increasing global demand as the most pressure factors,” said the survey.
“Most executives surveyed also believe minerals and metals demand will only increase in the next five to 10 years,” according to the survey. Meanwhile, mineral and metal scarcity is also expected to increase during the same period and negatively impact business.
Of those surveyed, 40% said most of the minerals they use in their supply chains come from within the U.S., while 21% get 50% of the minerals domestically. Only 14% of those surveyed said all of the minerals they use come from the United States.
Nevertheless, 57% of those responding agreed with the statement, “My company would prefer to source the minerals it needs from within the U.S. for our manufacturing needs.”
The most important reason cited for using domestically sourced minerals and metals was U.S. job creation, according to those surveyed. 21% cited increased national security as their most important reason to use U.S. minerals and metals.
87% of respondents said they agree with the statement that a “strong domestic supply of critical minerals and metals will decrease dependence on foreign mineral sources.” 84% said they agreed with the statement that “a strong domestic supply of critical mineral strengthen U.S. national security,” while 84% also concurred with the statement that “a strong domestic supply of critical minerals and metals will ensure job and economic growth in the U.S.”
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