1948 Annual Review

Generally speaking, the mining industry had a good year in 1948 with most mineral products being produced in record quantities for peacetime standards. The big boys-iron and steel, coal, and petroleum-indicated the industry-wide trend by surpassing 1947 production figures. Although exploration and expansion are being pushed aggressively in all branches of the industry, there is a pronounced trend to engineering and research directed at cutting production costs, improving the product, and finding new markets. These improvement campaigns are making headway; in the bituminous coal industry, 5.43 tons per man employed is the new production record; 83 million tons of iron ore were unloaded at lower Lake ports, breaking another peacetime record; magnesium, due to improvement in manufacturing techniques, now competes on the market with aluminum.