The US needs more mines for crucial transition metals [Video]

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In the US demand for metals critical to the green transition continues to climb sharply. The combined demand for lithium, nickel and cobalt is expected to be 23 times higher in 2035 than it was in 2021. But at the same time the development of new mines that could help fulfil that need has reduced to a crawl.

Since 2002, only three new mines for crucial transition metals have entered production there. According to a report from S&P Global, on average it takes 29 years for a mine to go from discovery to production in the US. That’s the second slowest in the world and compares to a global average of about 23 years.

The report says there are three key factors behind the tortoise-like progress; the litigious culture of the US, the complex process for getting permits on federal lands, and a low social acceptance of mining operations.

The …