[VIDEO] Is U.S. Manufacturing Making a Comeback?
After decades of outsourcing, companies are bringing production back to the United States and a big part is due to the mining industry.
Earlier this year, the National Mining Association (NMA) commissioned SNL Metals & Mining to conduct a study to demonstrate the extent in which minerals produced in the U.S. contribute to the domestic manufacturing industries. The goal of the report was to provide a comprehensive and accessible report for the public and policy makers.
According to the report, the average American born in 2013 will depend on roughly three million pounds of minerals, metals and fuels during their lifetime.
“The 27,416 pounds of iron ore, 978 pounds of copper, 521 pounds of zinc and 1.8 ounces of gold, among other minerals and metals, will allow the average American to driver safer cars on better roads and bridges, live in sustainable buildings, use laptops and smart phones and generally enjoy a high quality life.”
Although the U.S mining sector is currently in a great position to support manufacturers’ for sustainability and shorter supply chains in the production process, there’s a problem: an outdated, inefficient permitting system, which presents a barrier to American companies’ access to the minerals they need.
A streamlined permitting process, which would essentially help provide U.S. manufacturers with secure sources of the raw materials they need, which in return would boost the manufacturing sector in the United States providing more jobs and resources to Americans.
Vale invests $150mn to extend life of Manitoba operations
Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.
Global energy transition is boosting the market for nickel
The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.
“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.
“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”
Vale continues drilling program at Manitoba
Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.
“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.
“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”
The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history. Mining of the Thompson orebody began in 1961.
“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.