Annual Review 2006 – Mining Review

The mineral sector is a fundamental part of the U.S. economy. It contributes to the real gross domestic product (GDP) at several stages—basic (mining), intermediate processing, manufacturing of finished goods and construction. The estimated growth rate for the real GDP of the United States for 2006 was 3.2 percent. The nominal GDP was about $13.2 trillion. The value of minerals mined in the United States in 2006 rose significantly because of increased unit price for some metals—particularly copper, zinc and other base metals. There was also a significant reduction in metals stocks. Infrastructure expansion and manufacturing in China and India have been absorbing a significant portion of world output. Domestic production increased for some industrial mineral materials, mainly cement and construction sand and gravel. Production of crushed stone declined less than 1 percent in 2006 compared