Mining And Quarrying Trends In The Metal And Nonmetal Industries (ea481b0f-77ea-4512-b1c0-4ca51d657c29)

This chapter includes tables for 1982 that were not available in time for publication of the 1982 Minerals Yearbook, but does not include corresponding tables for 1983. The value of raw nonfuel minerals produced in the United States during 1988 was estimated at $21.1 billion, an increase of $1.5 billion over the value for 1982. This is a reversal of last year's downturn in value from that of 1981, which was the only decrease noted since 1971; hence, an overall trend of increasing values has been maintained for 12 years, except for 1982. Although the reversal is a basis for cautious economic optimism, it is tempered by continued problems in the domestic mining industry: inadequate funds for capital investment and competition with other countries that have lower production costs. Output of metal commodities in 1983 increased for 8 out of 21 metals, and metal values, in general, increased for 9 of the metals. Output of nonmetal commodities was mixed, with 24 nonmetals showing increases, 20 showing decreases, and 2 unchanged. Nonmetal values were also mixed in 1982: 25 showed increases, 20 declined, and 1 was unchanged. Improvements in the international metals market have not been forthcoming because of the continued depressed prices for major metals. Governments in foreign producing countries have been concerned with maintaining employment and continuing foreign exchange flows through mineral exports. Consequently, the excess of supply in the face of shrinking demand brought downward pressure on metal prices in general, except for the precious metals. On the domestic front, this situation means U.S. mining companies must become even more cost efficient. The major trend in the mining industry in 1983 was to cut costs further, reduce or stabilize total production, reduce outlays for major capital equipment, modify existing systems and equipment, and streamline operations. Most of the accomplishments reported herein reflect this trend.