ESG / Advocacy
Advancing Strategic Mineral Projects through Responsible Practices and Sustainable Development
Idaho Copper is still in the exploration and feasibility phase and therefore, the Company has not yet adopted any ESG metrics. However, we acknowledge the value of maintaining good social and governance principles. As such, we strictly adhere to all environmental permitting requirements and continue to have a high degree of stakeholder engagement with local communities.
Environment
Social
Governance
Critical Minerals Advocacy
The US Critical Minerals list is compiled every three years by the United States Geological Survey, with a goal of identifying commodities that have “important uses and no viable substitutes, yet face potential disruption in supply, and are considered critical to the Nation’s economic and national security.” For a mining project, having minerals on this list can lead to enhanced cooperation from government officials and a more streamlined permitting process.
Molybdenum (moly) is a logical candidate for inclusion on the US critical minerals list, and Idaho Copper is taking a leading role in lobbying for its inclusion. It is vital for US defense, where it is an ingredient in lubricants, fortifies the steel used in US tanks, and is important in jet engine components. More broadly, it is an alloy that is critical in steel production, especially stainless and other value-added steels.
Presently China controls 56% of the world’s molybdenum production, with the US at only 18%. As the US moves toward self-sufficiency with respect to resources, moly is one of numerous minerals where a disruption in foreign supplies could cripple the US economy. To address this vulnerability, the US should follow the lead of Canada and the UK, both of which have included moly on their critical mineral lists.
Policy Positions
- Efficient, timely and thorough permit reviews.
- Incorporating best practices for coordination among state and federal agencies.
- Clarifying responsibilities in an effort to avoid duplication.
- Setting binding timeframes.
In March 2018, the bill passed in the House Natural Resources Committee, signaling a bipartisan appeal for change.
- Encourage coordination between government agencies.
- Increase transparency of the permitting process.
- Improve accountability on delayed projects.
Oversight hearings in the US Senate indicate that the Congress is open to discussion to consider other projects in this definition. Idaho CuMo has joined other industry and association leaders to encourage Congress to designate mining projects as “infrastructure projects” under FAST 41 in an effort to reduce permitting times, decrease foreign dependence on strategic minerals and metals, and shore up our Nation’s economy and infrastructure.
The United States Geological Survey needs to be refocused to its core mission of maintaining geological and geophysical surveying; and mapping and maintaining ongoing inventories of our Nation’s mineral resources.
The lack of electronically accessible, up-to-date topographical, geological, and geophysical data has negatively affected our nation’s ability to explore, find and produce strategic and critical minerals essential to our Nation’s economic well-being and national security.
The Open Book on the Equal Access for Justice Act was introduced by Rep. Doug Collins (R-GA) and Sen. John Barrasso, and became law in March, 2021. The Act establishes a database to track litigation against the US because, according to Congresswoman Cynthia Lumis (R-WY), “large environmental groups have hijacked EAJA into a means to perpetually fund a cottage industry based upon suing the federal government over and over again… creating a bottomless, untraceable money pit to push their political agenda.”
- Section 873 prohibits procurement of defense sensitive material from non-allied nations.
- Section 343 mandates that copper, molybdenum, gold, nickel, lead, silver, and certain compounds found in fertilizers, be added to the critical minerals list.
- Representative Amodei (NV) amended the NDAA to significantly reduce mine permitting processes from ten years to two.
The NDAA passed the House with all three provisions, but the Senate passed it without the above provisions. The NDAA will now head to negotiation conferences between the Senate and the House.
