IGO to record impairment against nickel assets in strategy shift
IGO has been undertaking a strategic review in an attempt to revaluate its resources.
Invoking the Defense Production Act is unlikely to result in a meaningful increase in US production of critical minerals without fixing the mineral permitting process, according to Senator John Barrasso, a ranking member of the Senate Committee on Energy and Natural Resources (ENR).
“The administration is talking about using the Defense Production Act for minerals. Unless the President streamlines permitting, we should not expect to see any meaningful increase in American mineral production,” the Republican senator said in a full committee hearing Thursday to discuss the challenges in domestic mining and processing of critical minerals.
“Despite his climate pledges, President Biden has done nothing meaningful to boost American mineral production. In fact, the Biden administration has only made it more difficult to access minerals here at home in America,” Barrasso stressed.
Related: US to support new mines that avoid ‘historical injustices’, Biden says
In March of last year, the US Forest Service rescinded an environmental impact statement for a land swap “necessary for a major copper mine in Arizona.” Then in August, the Bureau of Land Management proposed withdrawing 10 million acres in Wyoming from mineral exploration.
“The list goes on,” said Barrasso, who went on to mention more cancelled projects.
“In January of this year, Interior Secretary Haaland cancelled leases for a new nickel and copper mine in Minnesota. And last month, the Department of the Interior said it would withdraw a right-of-way for a road necessary for a new copper mine in Alaska.
“The Department also proposed designating critical habitat for a flower that complicates the permitting of a new lithium mine in Nevada,” he said.
