Energy Shift
How Mine Permitting Delays Impact the Transition to a Green Economy
The following content is sponsored by Northern Dynasty
Mine Permitting Delays and the Transition to a Green Economy
Minerals are essential components in many of our daily-use products, such as cell phones, laptops, and cars.
In fact, every American uses nearly 40,000 pounds of newly mined materials each year.
In the United States, however, the current permitting process makes it difficult for businesses to invest in the extraction and processing of minerals, such as copper.
This graphic by Northern Dynasty explores the untapped potential of mineral resources in America.
Copper, a Critical Material
In 2023 the U.S. Department of Energy officially added copper to its critical materials list, following the examples of the European Union, Japan, India, Canada, and China.
Copper is a highly efficient conductor of electricity and is considered vital for clean energy technologies such as solar, wind energy, and electric vehicles.
Green energy-related copper demand is expected to increase by nearly 600% by 2030. In this scenario, the copper market could see an annual deficit of up to about 1.5 million tonnes by 2035.
Despite having more than 53 million tons of copper reserves, the U.S. imports 45% of its copper from other countries.
This is the highest level of import reliance in over 30 years. One of the biggest reasons for this is the country’s mine permitting process.
A Rigorous Mine Permitting Process
Mines are large-scale projects that demand extensive research and policies. As a result, mining projects can take 16 years, or more, to start production.
Currently, the U.S. Bureau of Land Management—which regulates land use in the country—has a permitting backlog of more than 280 mining projects.
In addition, environmental activists have adopted a “not in my backyard” stance towards domestic mining. As a result, companies have often had to resort to litigation to make any progress in the permitting process.
“Activists have weaponized the government bodies that are essential to the safe and responsible development of domestic mines,” says Michael Westerlund, VP Investor Relations at Northern Dynasty Minerals.
The company owns the largest undeveloped copper deposit in the world, named Pebble, in Alaska. Pebble and other five major copper projects totaling over 11 billion tonnes in copper resources have been delayed because of the Federal permitting process.
The Largest Undeveloped Copper Deposit in the World
The Pebble Project has been through a roller coaster of regulatory activity for the past 15 years.
Recently, the U.S. Environmental Protection Agency banned the depositing of mining waste near the mining project in Alaska, citing potential harm to the local sockeye salmon industry.
However, the veto directly contradicts findings from the Federal government that concluded that mining and fishing could coexist in the region.
“Alaska does resource development better than any other place on the planet, and our opportunities to show the world a better way to extract our resources should not be unfairly preempted by the Federal Government”
–Alaska Governor Mike Dunleavy
Projects like Pebble can provide significant economic benefits and support the U.S. transition to a greener future. With the current regulatory uncertainty for U.S. developers, where the much-needed supply of copper will come from is unknown.
Click here to learn more about Pebble.
Energy Shift
Visualized: Global Coal Consumption by Region
For this graphic, Visual Capitalist has partnered with Range ETFs to explore world coal consumption in 2023 and find out who consumed the most coal.
World Coal Consumption by Region in 2023
Despite many nations transitioning away from fossil fuels, in 2023, world coal consumption reached a staggering 164 exajoules (EJ) of energy, a record high for any year.
For this graphic, Visual Capitalist has partnered with Range ETFs to explore the role coal plays in the global energy mix and determine which regions still consume large quantities of coal.
The Role of Coal in Global Energy
Coal is a significant player in the global energy mix, contributing 26% of the world’s energy in 2023, more than all non-fossil fuel sources combined. The only energy source that contributed more to the global energy mix was oil.
Here’s how that consumption breaks down by region:
| Region | Consumption (EJ) | Share % |
|---|---|---|
| China | 91.9 | 56.1% |
| Asia Pacific (excluding China) | 43.8 | 26.7% |
| Americas | 10.0 | 6.1% |
| Europe | 8.4 | 5.1% |
| CIS* | 5.5 | 3.4% |
| Africa | 4.1 | 2.5% |
| Middle East | 0.4 | 0.2% |
| Total | 164.0 | 100% |
Coal consumption has decreased in many regions. For example, both North America and Europe reduced their energy consumption from coal by 16% in 2023. However, a heavy reliance on coal in the Asia Pacific region has led to global coal consumption remaining essentially the same over the past 10 years.
In 2023, China increased its coal consumption from 88 EJ to nearly 92 EJ—totalling 56% of global coal consumption. This contributed significantly to Asia Pacific leading the world with a staggering 83% of global coal consumption.
The Importance of Coal
Easy access to existing infrastructure and reasonable prices have not only sustained global coal consumption over the last 10 years, but also paved the way for potential growth. Many developing nations are now expanding their coal consumption, presenting potential opportunities in the coal market.
For example, as per the Statistical Review of World Energy 2024, between 2022 and 2023, Bangladesh and Colombia saw double-digit percentage increases in year-over-year coal consumption: 41% and 53%, respectively.
Coal continues to play a critical role in the global energy mix, especially in the developing world, where its affordability makes it the current energy source of choice.
Learn more about the Range Global Coal Index ETF (COAL)
Energy Shift
Top Countries by Fossil Fuel Consumption in 2023
China and the U.S. account for nearly half of fossil fuel use.
Top Countries by Fossil Fuel Consumption in 2023
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Fossil fuel consumption reached new record highs in 2023, driven by increased coal and oil use in China, despite the global boom in renewable energy.
Together, gas, oil, and coal accounted for 81.5% of the global energy mix last year, slightly down from 82% in 2022.
This graphic shows the top 12 countries by fossil fuel consumption in 2023. Data is from the Energy Institute, 2024 Statistical Review of World Energy, released in June 2024.
China and U.S. Account for Nearly Half of Global Fossil Fuel Use
China and the U.S. are responsible for almost half (47%) of global fossil fuel consumption.
| Country | Oil (Exajoules) | Natural Gas | Coal | Total |
|---|---|---|---|---|
| 🇨🇳 China | 33 | 15 | 92 | 140 |
| 🇺🇸 U.S. | 36 | 32 | 8 | 76 |
| 🇮🇳 India | 11 | 2 | 22 | 35 |
| 🇷🇺 Russia | 7 | 16 | 4 | 27 |
| 🇯🇵 Japan | 7 | 3 | 5 | 15 |
| 🇮🇷 Iran | 4 | 9 | 0 | 12 |
| 🇸🇦 Saudi Arabia | 7 | 4 | 0 | 12 |
| 🇰🇷 South Korea | 5 | 2 | 3 | 10 |
| 🇨🇦 Canada | 4 | 4 | 0 | 9 |
| 🇮🇩 Indonesia | 3 | 2 | 4 | 9 |
| 🇩🇪 Germany | 4 | 3 | 2 | 9 |
| 🇬🇧 United Kingdom | 3 | 2 | 0 | 5 |
| 🌍 Rest of the World | 72 | 50 | 24 | 146 |
In 2023, China consumed 140 exajoules of fossil fuels, equivalent to approximately 5.8 billion tonnes of hard coal. The U.S. followed with 76 exajoules, while India was third with 35 exajoules.
Crude oil consumption surpassed 100 million barrels per day for the first time, and coal demand exceeded the previous year’s record.
China remains the largest coal consumer, accounting for 56% of global consumption, a new record for the country. Additionally, in 2023, India’s coal consumption surpassed the combined total of Europe and North America for the first time.
If you like this graphic, be sure to check out ‘Visualizing Global Energy Production in 2023.’ This graphic illustrates the sources of energy used worldwide last year.
-
Electrification2 years agoThe Key Minerals in an EV Battery
-
Energy Shift2 years agoWhat Are the Five Major Types of Renewable Energy?
-
Electrification1 year agoThe Six Major Types of Lithium-ion Batteries: A Visual Comparison
-
Electrification3 years agoThe World’s Largest Nickel Mining Companies
-
Real Assets2 years agoWhich Countries Have the Lowest Inflation?
-
Energy Shift2 years agoThe Solar Power Duck Curve Explained
-
Misc2 years agoHow Is Aluminum Made?
-
Electrification3 years agoBreaking Down the Cost of an EV Battery Cell