The Inflation Reduction Act (IRA) is reshaping the landscape of metals and minerals demand, triggering a surge in critical minerals activity while structural permitting challenges in the U.S. legal system could thwart the act’s efficacy, new analysis by S&P Global shows.
In its Inflation Reduction Act: Impact on North America metals and minerals market report, released Thursday, market analysts highlight sourcing and production challenges as well as complications in navigating the permitting system.
“The complex U.S. landscape holds a pivotal role in operational success, influencing project timelines and feasibility,” wrote the report’s project chairman, Daniel Yergin, vice chairman of S&P Global.
“Prolonged permitting processes and the spectre of potential post-permit litigation risks present formidable challenges across mining and refining countries. As the industry grapples with this multifaceted challenge, operational concerns stand out as a defining factor shaping domestic production prospects,” says Yergin.
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