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Forbes
2 days ago
- Business
- Forbes
Building Tomorrow's Mining Workforce: A Three-Part Solution
Ed Macha is the CEO of Reliable Controls. America's mining industry requires diverse skills, from engineering and geology to environmental science and technology. However, the workforce is aging, and there is a lack of young talent entering the field to replace them. The National Mining Association (NMA) estimates the sector will need to fill tens of thousands of jobs over the next decade to maintain production levels. This shortage is particularly concerning given the increasing demand for critical minerals to support renewable energy technologies. That's why the need for educational institutions to shape the next generation for mining careers is urgent—but it can't happen in isolation. I believe business leaders have a crucial role to play in shaping immigration policies to enhance the workforce, as well as to promote a realistic understanding of the industry's needs. I believe this three-pronged approach can ensure we have the skilled labor needed to help create a prosperous and sustainable future for everyone. 1. Educational Transformation I think the main solution to the labor shortage lies in transforming educational initiatives. Universities, colleges and vocational schools can revamp their curricula to align with the practical needs of the mining industry. This could involve expanding specialized programs in mining engineering, incorporating more interdisciplinary studies and providing more opportunities for practical courses. By starting early with high school and even elementary education, institutions can introduce students to the importance of natural resources and the role of mining in the energy transition. Hands-on experiences could ignite interest in mining careers, showing students how they can contribute to solving global problems and advance in their careers. For example, the University of Arizona's Lowell Institute for Mineral Resources allows students to engage in fieldwork and research projects that address real-world mining challenges. Partnerships between educational institutions and mining companies can provide students with internships, apprenticeships and job placements, ensuring a steady talent pipeline and promising career opportunities. As part of these partnerships, mining executives can also contribute by serving on industry advisory boards, funding scholarships, and otherwise helping to shape the curriculum around the skills modern mines actually need. These are small actions that can yield long-term workforce stability. 2. Immigration Policy Given the immediate need for skilled workers, I also think immigration policy needs to evolve to help attract talented individuals outside the U.S. who can contribute to a reliable domestic metal supply chain. While this may raise concerns about the impact on the domestic workforce and national security, it is important to note that welcoming skilled immigrants is both a stopgap and strategic move to enhance the mining sector's diversity, innovation and resilience. This could involve streamlining visa processes for skilled workers in mining-related fields, providing incentives for international students to study and remain in the U.S. after graduation and developing pathways to permanent residency for those who contribute meaningfully to the mining industry. Looking back, we can draw inspiration from the significant contributions of immigrants to America's industrial and economic growth during the early 20th century. As Teddy Roosevelt once said, 'The fundamental thing to do for every man is to give him a chance to reach a place in which he will make the greatest possible contribution to the public welfare.' By attracting and retaining skilled workers worldwide, we can fortify our mining industry and, in turn, our national security and economic prosperity. 3. Media And Public Perception I see how many young people today don't have much exposure to the practical realities of natural resource use, in part because media coverage often emphasizes climate concerns and ambitious calls to eliminate fossil fuels. While addressing climate change is critical, there needs to be a balanced narrative that also highlights the essential role of mining in the energy transition. Examples of media misrepresentation include reports from the World Economic Forum (WEF) and the United Nations (UN) that emphasize the catastrophic consequences of climate change without adequately discussing the practical steps needed for the transition to renewable energy. They often fail to highlight the essential processes required to extract and process the unprecedented amounts of critical minerals necessary to mitigate these impacts. Similarly, UN reports frequently stress the urgency of ending fossil fuel use but fail to address the substantial increase in mining and fossil fuels required to produce renewable energy technologies. I believe we need to move away from using alarming and apocalyptic language to underscore the urgency of tackling climate change. While they aim to raise awareness and drive action, I think this approach ultimately creates anxiety and hopelessness, particularly among young people. The media's role in promoting this balanced narrative could include highlighting success stories, such as Rio Tinto's use of autonomous vehicles and AI to optimize mining operations. Furthermore, educational campaigns that explain the importance of essential minerals in everyday life—from smartphones to electric vehicles—can help foster a deeper understanding and appreciation of the mining industry. Mining's Role In The Green Transition Overcoming the workforce shortage in the mining industry is a complex task that we can collectively conquer. Business leaders, specifically, have a pivotal role to play: helping to shape policy, forge partnerships and tell a more honest story about what it takes to build a sustainable world. By focusing on these areas, we can ensure that our nation has the skilled workforce to secure a reliable supply of critical minerals and lead the way in the global energy transition. Investing in our workforce prepares us for economic growth and ensures national security and sustainability. This is how we can transform challenges into opportunities through strategic foresight and united action. Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?
Yahoo
09-07-2025
- Business
- Yahoo
Trump announces 50% tariff on copper imports as copper futures surge
President Donald Trump has announced plans to impose a 50% tariff on copper imports, a move aimed at bolstering US production of the essential metal, as reported by Reuters. Following the announcement, US Comex copper futures surged more than 12% to a record high. During a White House cabinet meeting, Trump revealed his intention to declare the tariff, although the effective date was not specified, stating: 'I believe the tariff on copper, we're going to make 50%.' US Commerce Secretary Howard Lutnick indicated in a CNBC interview that the tariffs could be in place by the end of July or on 1 August 2025, with Trump expected to share details on his social media account. Despite the announcement, a definitive declaration of the tariffs is still awaited by countries, mining companies and trade groups. The US government initiated a Section 232 investigation into copper imports in February, with a November deadline for conclusion. Lutnick has confirmed that this review os already complete. 'The idea is to bring copper home, bring copper production home, bring the ability to make copper, which is key to the industrial sector, back home to America,' he stated. The National Mining Association has declined to make any comments until more details are disclosed, and the American Critical Minerals Association has not responded to requests for comments. The new US copper tariff is poised to significantly impact Chile, Canada and Mexico, the top suppliers of refined copper and copper products to the US in 2024 according to US Census Bureau data. These countries, along with Peru, have argued that their exports do not threaten US interests and should be exempt from tariffs, given their free trade agreements with the US. The Canadian metals industry is already grappling with challenges from higher US tariffs on steel and aluminium, now at 50%, which could lead to job losses and reduced sales. "Trump announces 50% tariff on copper imports as copper futures surge" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
New Straits Times
09-07-2025
- Business
- New Straits Times
Trump says US to impose 50pct tariff on copper imports, copper futures jump
WASHINGTON: President Donald Trump said he will announce a 50 per cent tariff on copper on Tuesday, hoping to boost US production of a metal critical to electric vehicles, military hardware, the power grid and many consumer goods. US Comex copper futures jumped more than 12 per cent to a record high after Trump announced the planned tariffs, which came earlier than the industry had expected, and the rate was steeper. Trump told reporters at a White House cabinet meeting that he planned to make the copper tariff announcement later in the day but he did not say when the tariff would take effect. "I believe the tariff on copper, we're going to make 50 per cent," Trump said. After Trump spoke, US Commerce Secretary Howard Lutnick said in an interview on CNBC that the copper tariffs would likely be put in place by the end of July or August 1. He said Trump would post details on his Truth Social media account sometime on Tuesday. Trump had yet to formally announce the tariffs by Wednesday evening and several countries, mining companies and trade groups said they were awaiting firm details. Analysts with RBC Capital Markets said they expect short-term volatility in copper prices and shares of copper companies should the tariff be implemented. In February, the administration announced a so-called Section 232 investigation into US imports of the red metal. The deadline for the investigation to conclude was November, but Lutnick said the review was already complete. "The idea is to bring copper home, bring copper production home, bring the ability to make copper, which is key to the industrial sector, back home to America," Lutnick said. The National Mining Association declined to comment, saying it preferred to wait until details were released. The American Critical Minerals Association did not immediately respond to requests for comment. Copper is used in construction, transportation, electronics and many other industries. The US imports roughly half of its copper needs each year and only has three copper smelters. Major copper mining projects across the US have faced strong opposition in recent years due to a variety of reasons, including Rio Tinto and BHP's Resolution Copper project in Arizona and Northern Dynasty Minerals' Pebble Mine project in Alaska. Shares of the world's largest copper producer, Phoenix-based Freeport-McMoRan, shot up more than five per cent at one point in Tuesday trading. The company, which produced 1.26 billion pounds (571,530 metric tonnes) of copper in the US last year, did not immediately respond to a request for comment. Freeport, which would benefit from US copper tariffs but worries that the duties would hurt the global economy, has advised Trump to focus on boosting US copper production. Countries set to be most affected by any new US copper tariff would be Chile, Canada and Mexico, which were the top suppliers to the US of refined copper, copper alloys and copper products in 2024, according to US Census Bureau data. Chile, Canada and Peru – three of the largest copper suppliers to the US – have told the administration that imports from their countries do not threaten US interests and should not face tariffs. All three have free trade deals with the US. Mexico's Economy Ministry and Canada's Finance Ministry did not immediately respond to requests for comment, while Chile's Foreign Ministry said it had not received any formal communication about the tariffs. Chile's Mining Ministry declined to comment. Chairman Maximo Pacheco of Codelco, the country's top copper miner, told Reuters the company wanted to know which copper products would be included and if the tariff would hit all countries. Pierre Gratton, president of the Mining Association of Canada, said the tariff is concerning for copper smelters such as Glencore's Horne facility in Quebec. Gratton added he was waiting for the 232 report from Trump officials. A 50 per cent tariff on copper imports would hit US companies that use the metal because the country is years away from meeting its needs, said Ole Hansen, head of commodity strategy at Saxo Bank. "The US has imported a whole year of demand over the past six months, so the local storage levels are ample," Hansen said. "I see a correction in copper prices following the initial jump."
The Hindu
09-07-2025
- Business
- The Hindu
Trump says U.S. to impose 50% tariff on copper imports, copper futures jump
President Donald Trump said he will announce a 50% tariff on copper on Tuesday (July 8, 2025), hoping to boost U.S. production of a metal critical to electric vehicles, military hardware, the power grid and many consumer goods. U.S. Comex copper futures jumped more than 12% to a record high after Mr. Trump announced the planned tariffs, which came earlier than the industry had expected, and the rate was steeper. Mr. Trump told reporters at a White House cabinet meeting that he planned to make the copper tariff announcement later in the day but he did not say when the tariff would take effect. "I believe the tariff on copper, we're going to make 50%," Mr. Trump said. After Mr. Trump spoke, U.S. Commerce Secretary Howard Lutnick said in an interview on CNBC that the copper tariffs would likely be put in place by the end of July or August 1. He said Mr. Trump would post details on his Truth Social media account sometime on Tuesday. In February, the administration announced a so-called Section 232 investigation into U.S. imports of the red metal. The deadline for the investigation to conclude was November, but Lutnick said the review was already complete. "The idea is to bring copper home, bring copper production home, bring the ability to make copper, which is key to the industrial sector, back home to America," Mr. Lutnick said. The National Mining Association declined to comment, saying it preferred to wait until details were released. The American Critical Minerals Association did not immediately respond to requests for comment. Copper is used in construction, transportation, electronics and many other industries. The U.S. imports roughly half of its copper needs each year. Major copper mining projects across the U.S. have faced strong opposition in recent years due to a variety of reasons, including Rio Tinto and BHP's Resolution Copper project in Arizona and Northern Dynasty Minerals's Pebble Mine project in Alaska. Shares of the world's largest copper producer, Phoenix-based Freeport-McMoRan, shot up nearly 5% in Tuesday afternoon trading. The company, which produced 1.26 billion pounds of copper in the U.S. last year, did not immediately respond to a request for comment. Freeport, which would benefit from U.S. copper tariffs but worries that the duties would hurt the global economy, has advised Mr. Trump to focus on boosting U.S. copper production. Countries set to be most affected by any new U.S. copper tariff would be Chile, Canada and Mexico, which were the top suppliers to the U.S. of refined copper, copper alloys and copper products in 2024, according to U.S. Census Bureau data. Chile, Canada and Peru— three of the largest copper suppliers to the U.S.— have told the administration that imports from their countries do not threaten U.S. interests and should not face tariffs. All three have free trade deals with the U.S. Mexico's Economy Ministry, Chile's Foreign Ministry and Canada's Finance Ministry did not immediately respond to requests for comment. Chile's Mining Ministry and Codelco, that country's leading copper miner, declined to comment. A 50% tariff on copper imports would hit U.S. companies that use the metal because the country is years away from meeting its needs, said Ole Hansen, head of commodity strategy at Saxo Bank. "The U.S. has imported a whole year of demand over the past six months, so the local storage levels are ample," Mr. Hansen said. "I see a correction in copper prices following the initial jump."
India Today
09-07-2025
- Business
- India Today
Trump hits copper imports with 50% tariff amid trade push
President Donald Trump said he will announce a 50% tariff on copper on Tuesday, hoping to boost US production of a metal critical to electric vehicles, military hardware, the power grid and many consumer Comex copper futures jumped more than 12% to a record high after Trump announced the planned tariffs, which came earlier than the industry had expected, and the rate was told reporters at a White House cabinet meeting that he planned to make the copper tariff announcement later in the day but he did not say when the tariff would take effect. "I believe the tariff on copper, we're going to make 50%," Trump Trump spoke, US Commerce Secretary Howard Lutnick said in an interview on CNBC that the copper tariffs would likely be put in place by the end of July or August 1. He said Trump would post details on his Truth Social media account sometime on had yet to formally announce the tariffs by Wednesday evening and several countries, mining companies and trade groups said they were awaiting firm with RBC Capital Markets said they expect short-term volatility in copper prices and shares of copper companies should the tariff be February, the administration announced a so-called Section 232 investigation into US imports of the red metal. The deadline for the investigation to conclude was November, but Lutnick said the review was already complete."The idea is to bring copper home, bring copper production home, bring the ability to make copper, which is key to the industrial sector, back home to America," Lutnick National Mining Association declined to comment, saying it preferred to wait until details were released. The American Critical Minerals Association did not immediately respond to requests for is used in construction, transportation, electronics and many other industries. The US imports roughly half of its copper needs each year and only has three copper copper mining projects across the U.S. have faced strong opposition in recent years due to a variety of reasons, including Rio Tinto RIO.L and BHP's Copper project in Arizona and Northern Dynasty Minerals' Mine project in of the world's largest copper producer, Phoenix-based Freeport-McMoRan FCX.N, shot up more than 5% at one point in Tuesday trading. The company, which produced 1.26 billion pounds (571,530 metric tonnes) of copper in the U.S. last year, did not immediately respond to a request for which would benefit from US copper tariffs but worries that the duties would hurt the global economy, has advised Trump to focus on boosting US copper set to be most affected by any new US copper tariff would be Chile, Canada and Mexico, which were the top suppliers to the U.S. of refined copper, copper alloys and copper products in 2024, according to US Census Bureau Canada and Peru - three of the largest copper suppliers to the US - have told the administration that imports from their countries do not threaten US interests and should not face tariffs. All three have free trade deals with the Economy Ministry and Canada's Finance Ministry did not immediately respond to requests for comment, while Chile's Foreign Ministry said it had not received any formal communication about the Mining Ministry declined to comment. Chairman Maximo Pacheco of Codelco, the country's top copper miner, told Reuters the company wanted to know which copper products would be included and if the tariff would hit all Gratton, president of the Mining Association of Canada, said the tariff is concerning for copper smelters such as Glencore's GLEN.L Horne facility in Quebec. Gratton added he was waiting for the 232 report from Trump 50% tariff on copper imports would hit US companies that use the metal because the country is years away from meeting its needs, said Ole Hansen, head of commodity strategy at Saxo Bank."The U.S. has imported a whole year of demand over the past six months, so the local storage levels are ample," Hansen said. "I see a correction in copper prices following the initial jump."- Ends
