1990 Summary

In broadest overview, a substantial part of the world's mineral industry in 1990 registered small gains over its 1989 performance, but traditional statistical measures of mineral industry performance, namely global production, trade, and consumption levels, failed to mirror these gains. This was because of the sharp downturns in the mineral industry activity in the U.S.S.R. and the former centrally planned economy nations of eastern Europe. These downturns in this one geographic area had influences on almost all traditional statistical series, in some cases simply significantly reducing growth, in other cases providing for a global downturn, in almost all cases despite considerably brighter outlooks based on activities in other world areas. To be sure, the U.S.S.R. and eastern Europe were not the only places on the planet suffering problems of one type or another in 1990 that impacted on minerals industry activity, but with the acquisition of information presently available, it seemed almost assured that the difficulties of these economies in transition will be the most difficult of problems to resolve in the long run. It certainly appeared that the legacy of the half century or more of economic central planning will be a decade or more of very difficult adjustments, and a number of these will greatly affect not only the minerals industry of these transition countries, but also the rest of the globe's mineral industry as well.