➤ The National Mining Association's new president and CEO plans to double down on opportunities for metals in technology.
➤ The association is focused on improving the permitting process for mine expansions and new mine sites.
➤ While the trade organization intends to help mitigate the costs driving coal use, the metals sector has a "bright" future given growing global demand.
The following is a transcript of an interview with Nolan, edited for brevity and clarity.
S&P Global Market Intelligence:
Rich Nolan was elected CEO and president of the National Mining Association on Sept. 25. |
What, if any, challenges are the metals and hard-rock mining sector experiencing or would you expect to them experience in the near future?
Here in the United States, we're very much focused on mine expansion and siting new mines. Right now, it takes an average of 10 years to stand up a new domestic mine project in the United States. So, we've been working intently and will continue to do so with Congress, with the administration to try to get some efficiencies into the permitting process to make sure that new mines can be sited in a timely manner so we can get products to market.
On the coal front, what are your thoughts on the trajectory of that sector?
There's clearly been some stressors in the coal sector. We've seen certainly some consolidation and some market efficiencies that have come into play. Our job at the NMA is to continue to work to help mitigate some of the costs that are driving coal use. And then we're also looking at opportunities in the export markets as well because global demand in all the forecasts worldwide show that coal's prominence continues to be extremely essential for developing economies across the globe.
How does the association balance the potential market growth for some mining sectors to provide mined materials for increased renewable energy demand with its coal-sector clients, given those are two competing energy sources?
We really don't see it that way. We're not going to pick winners and losers. We take the view that all-the-above energy is required, whether it's coal or nuclear or oil or gas or renewables. We're going to need it all. That's going to lift all boats and keep electricity prices low and electricity flowing in a reliable and sustainable manner.
Given the current political climate, is it becoming more difficult to get the coal industry's voice heard on Capitol Hill or in this political climate in general?
I think the coal industry working with the Trump administration and our allies on the Hill has been extremely impactful and effective. ... This administration has helped and put miners back on the job. There are new mines opening in several parts of the country, so we're optimistic that the free fall is over. Now it's just going to take us a while to adjust and get ready for the next phase.
Going into an election year, and given the number of Democratic presidential hopefuls who are pretty anti-coal, do you have any strategy or insight into how the NMA is going to tackle that heading into 2020?
First and foremost, we'll meet and talk with anybody about what we do, how we do it, the value of the products we produce, how they lift people literally out of poverty and into the middle class, and I think as we convey that story and double down, we'll build broad support for the industry and the products we provide. I would also say that we're not the Democratic Party. We're not the Republican Party. We're the party of mining, so we see our issues as bipartisan and will continue to press that forward.

