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The mineral Industry, following the economy as a whole, experienced little growth in 1992. However, with modernized plants, efficient workforces, and lower operating costs, the industry is well positioned to take advantage of possible improvement in the national economy during 1993. In addition to the significant 1992 events highlighted below, important events, trends, and issues within individual mineral industries are addressed in the commodity sections that follow. The value of processed materials of mineral origin is estimated to have been about $310 billion in 1992. The value of U.S. raw nonfuel minerals production in 1992 is estimated at approximately $32 billion, a 3% increase over 1991. The value of domestic minerals production has increased in all but 4 of the last 32 years.

Jan 1, 1993

The domestic mineral and material industry grew in some key sectors and declined in others during 1993; overall, the industry was poised at yearend for stronger growth in 1994. Metals production is expected to increase with anticipated growth in U.S. motor vehicle sales. There also may be increased demand for industrial minerals in 1994 based on domestic highway and building construction. Additional information on events, trends, and issues in the mineral and material industry is presented below and in the commodity sections that follow. Overall Industry Performance The value of processed materials produced from minerals in the United States during 1993 is estimated to have been about $326 billion, an increase of 5% compared with that of 1992. The estimated value of U.S. raw nonfuel minerals production in 1993 was $31.6 billion, about 1 % less than in the preceding year. The value of domestic minerals production has risen in 28 of the last 33 years.

Jan 1, 1994

A stronger U.S. economy stimulated the domestic mineral sector in 1994. Metals demand was spurred by robust U.S. motor vehicle sales, while demand for major industrial minerals rose in response to highway and building construction. Domestic mineral and material demand is expected to increase in 1995, particularly if interest rates do not restrain the building industry and international monetary exchange rates remain advantageous to U.S. automobile manufacturers. Additional information on events, trends, and issues in the mineral and material sector is presented below and in the commodity sections that follow. Overall Performance Processed materials of mineral origin produced in the United States during 1994 increased to an estimated value of $360 billion. Domestic output of raw nonfuel minerals in 1994 was estimated at $34 billion, about 6% more than that of 1993. The value of U.S. minerals production has increased in 29 of the last 34 years.

Jan 1, 1995

The U.S. economy and, consequently, the demand for minerals grew at more moderate rates in 1995 compared with stronger performances the previous year. Demand for metals such as steel and copper was relatively stable. For example, the decline in steel consumed in motor vehicle manufacturing (reflecting lower vehicle sales) for the first half of 1995 was offset by an increase in steel consumed in construction during the same period. More detailed information on events, trends, and issues in the mineral and material sector Is presented below and in the commodity sections that follow. Overall Performance The value of processed materials of mineral origin produced in the United States during 1995 was estimated to be $395 billion, an increase of almost 10% compared with 1994. The estimated value of U.S. raw nonfuel minerals production in 1995 was $38 billion, about 7% more than in 1994. The value of U.S. minerals production has increased in 30 of the last 35 years.

Jan 1, 1996

This is an audience, I know, that shares my interest in a subject that is currently getting a lot of attention -the tendency of our Nation to draw increasingly on overseas supplies of certain mineral commodities, and proportionately less on domestic sources for these minerals. That we do obtain substantial quantities of some essential minerals from abroad is easy to demonstrate. That we will continue to do so in the foreseeable future is not in doubt. Uncertainty begins, however, when we try to interpret the significance of these facts. As with many phenomena, their meaning is open to a variety of interpretations.

Jan 1, 1980

By NA NA

Reports of discussion at sessions held in Keyworth, UK, on 22-23 April 1992.

Jan 12, 1992

By V. T. McLemore

"Lindgren (1933) defined a belt of alkaline-igneous rocks associated with large quantities of gold and rare earth elements (REE) that extends from Alaska and British Columbia southward into New Mexico, Texas and eastern Mexico. The North American Cordilleran alkaline-igneous belt since has been exploited for numerous types of mineral deposits. In New Mexico, Mid-Tertiary alkaline to calc-alkaline rocks are found with seven types of deposits in these districts: (1) polymetallic epithermal/mesothermal veins, (2) gold-bearing breccias/quartz veins, (3) Cu-Au, Au and Mo porphyry deposits, (4) skarns and carbonate-hosted deposits, (5) iron skarns and replacement bodies (with some gold), (6) gold placers, and (7) Th-REE (with some U, Nb) epithermal veins. Some of New Mexico’s largest gold and REE deposits are found within this belt. Their origin is not well understood, but a compilation of new data (age dates, isotopic and chemical analyses) allows for a better understanding. The diversity of igneous rocks and associated mineral deposits along this belt suggests that this region is characterized by highly fractionated and differentiated; multiple pulses of magmas and involves both upper mantle and lower crustal sources. Once magmas and metal-rich fluids reached shallow levels, local structures and wall rock compositions determined distribution of and final style of intrusions and resulting mineral deposits. INTRODUCTION Lindgren (1933) was one of the first geologists who noted that a belt of alkaline-igneous rocks extends from Alaska and British Columbia southward into New Mexico, Trans-Pecos Texas, and eastern Mexico (Fig. 1) and that these rocks contain relatively large quantities of gold, fluorine, zirconium, rare earth elements (REE), and other elements. Since then, the North American Cordilleran alkaline-igneous belt has been explored and exploited for numerous types of mineral deposits, especially gold. The North American Cordilleran alkaline belt is a north-south belt of alkaline igneous rocks and crustal thickening, roughly coinciding with the Great Plains physiographic margin with the Basin and Range (Rio Grande rift) and Rocky Mountains physiographic provinces (Mutschler et al., 1985, 1991; Bonham, 1988; Thompson, 1991a; Richards, 1995; McLemore, 1996; Jensen and Barton, 2000; Kelley and Luddington, 2002). Deposits within this belt have produced significant amounts of gold in the United States and Canada and include Cripple Creek, Colorado (702 metric tons of gold production), Black Hills, South Dakota (235 metric tons gold production) and Landsky-Zortman, Montana. In New Mexico, the North American Cordilleran alkaline belt extends from the Sangre de Cristo Mountains near Raton, southward to the Cornudas Mountains, in the northern Trans-Pecos alkaline belt (Fig. 2). The alkaline-igneous related mineral deposits in New Mexico have been referred to as Great Plains Margin (GPM) deposits by North and McLemore (1986, 1988) and McLemore (1996, 2001). Alternative classifications by other workers include Au-Ag-Te veins (Cox and Bagby, 1986; Bliss et al., 1992; Kelley et al., 1998), alkalic-gold or alkaline-igneous related gold deposits (Fulp and Woodward, 1991a; Thompson, 1991a, b; Bonham, 1988; Mutschler et al., 1985, 1991; Richards, 1995), porphyry gold deposits, and the North American Cordilleran belt of alkaline igneous rocks (Woolley, 1987; Mutschler et al., 1991)."

Jan 1, 2015

By R. C. Wallace

In the early explorations of the Northwest, the search for minerals played a not inconsiderable part. The first episode had its disillusioning sequel. Sir Martin Frobisher, in 1576, sailed up that bay in Baffin land now known as Frobisher bay, thinking that he had the coast of Asia on his right hand. He brought back from this expedition a piece of 'black earth' from Hall island, from which an alchemist by coaxing nature, or his own conscience, obtained gold. A second expedition of three ships was fitted out in 1577, and a third of fifteen ships in 1578. The ships were loaded with this 'black earth', which on subsequent investigation was found to be worthless, and interest in minerals for the time being ceased. In 1612 Hall and Baffin went in search of a gold mine near the Arctic circle on the west coast of Greenland, reported to be worked by the Danes. They found old workings, but no ore. To come nearer the Hudson Bay area, it is noteworthy that the charter granted by Charles II to the Hudson Bay Company in 1670, as a result of the explorations of Radisson and Groseillers, was given "-in consideration for their having at their own cost and charges undertaken an expedition to Hudson bay in the northeast parts of America, for the discovery of a new passage to the South sea, and for the finding of some trade for furs, minerals and other considerable commodities, and of their already having made by their undertakings such discoveries as did encourage them to proceed farther in pursuance of the said design, by means whereof there might probably arise great advantage to the King and his Kingdom - ".

Jan 1, 1925

By T. B. Thompson

The Cripple Creek diatreme-intrusive complex is known primarily for its vein telluride-gold ores and, for major veins, their great vertical range (>990m). Less well-documented are the ores dispersed into the wallrocks adjacent to veins, the ores associated with hydrothermal and tectonic breccias, or mineralized zones within fluvial, lacustrine, and volcaniclastic rocks deposited within the diatreme complex. The ore-gangue minerals Here precipitated from oxidized, alkaline fluids that yielded an abundance of carbonate, sulfate, and oxide minerals along with minor base metal sulfide and precious metal telluride-s. Wallrock alteration is quite limited adjacent to veins and somewhat more extensive within hydrothermal and tectonic breccias.

Jan 1, 1991

By E. L. Bruce

EUROPEAN Russia is mainly a great plain, the average elevation of which is only 600 feet above sea level and the maximum elevation less than 1,200 feet (Figure 1). The main divide between the Arctic ocean and the Black sea and Caspian sea is an indistinguishable topographic feature from which the Dneiper and Don rivers flow southward to the Black sea and the Volga river to the Caspian. The valleys of these rivers are but little below the general level (Figure 2). To the south, this great, rolling plain is broken by a low ridge of Precambrian gneisses and intrusive rocks. The Crimea is an upland from which the descent to the Black Sea coast is precipitous (Figure 3). The Ukrainian Soviet Socialist Republic occupies the southern part of the plain. It is the southwestern unit of the Union, bordered by Rumania and Poland on the west and by the Crimean Soviet Socialist Republic on the south.

Jan 1, 1938

By Hulbert A. Lee

"A REVIEW OF MINERAL DISCOVERIES IN CANADA, and in particular the Canadian Shield, using the physical aspects of overburden reveals a trend in the art of exploration. At an early time of exploration (1847-1954), float and heavy clasts were used successfully to find ore deposits with little knowledge of Quaternary environments. At a later time (1955 to present) , use of Quaternary rock-units for sampling have made possible tracing indicator trains of float, heavy clasts and other ore-type clasts to the source bedrock. The basal till of retreat ice is now recognized as a1l favourable sampling environment and as such has been used to successfully discover hidden orebodies. The esker massive gravel is beginning to be recognized as a favourable environment and use of it has met with technical success. An understanding of those changes that have taken place during the transportation of the material and after its deposition is essential to proper sampling and treatment of the samples from the basal till and the esker massive gravel. Use of float and heavy clasts in search of orebodies is continuing in present-day exploration on the Shield. Lessons learned from it are being incorporated into exploration using favourable Quaternary rock-units for sampling. Hence, both subjects have a need for review and are discussed in this paper."

Jan 1, 1971

By L. B. Sand

Zeolite ores and protores occur in extensive deposits in the western United States. A recent paper1 describes the general geology and mineralogy of these deposits and their geographical distribution. The zeolites are alkali-and silica-rich varieties of mordenite, erionite, chabazite, phillipsite, ferrierite, and clinoptilolite. The zeolites were formed primarily by the alteration of Tertiary pyroclastics and in some cases by the alteration of Tertiary siliceous flows. The altered pyroclastics are of principal economic significance. The volcanic ash and tuff were deposited in restricted basins where saline lakes developed. The pyroclastic layers often are of uniform thickness and macrotexture for miles from the center of the basin and interfinger with detritals toward the edge of the basin. Thus, in addition to unaltered volcanic glass, the gangue minerals in these deposits include some combination of primary minerals in the pyroclastics, alteration products of the glass other than the zeolite of interest, and detrital minerals. The gangue minerals include quartz, cristobalite, tridymite, opal, orthoclase, micro cline, montmorillonite, hornblende, calcite, gypsum, thenardite, and iron oxides. The presence of one or two other zeolites in the layer in some cases also is considered as gangue. There are no quantitative mineralogical descriptions of these deposits in the literature; this: study was undertaken to obtain this information. As the zeolites occur as single crystals, crystal aggregates, zeolite-glass particles and in cemented aggregates, a method of study was chosen which would give the size distribution of the zeolite in these types of association. For this reason dispersion of the rock was achieved with a minimum of grinding action. This excluded those zeolite ores, silicified by hydrothermal altera¬tion which require grinding. A relative index of the ease of disaggregation of the zeolite ores thus is obtained, but the technique does not give absolute size distributions of the zeolite crystals. Samples were selected for analysis which do not necessarily represent the best ore horizon, but do represent a spectrum of zeolite occurrences from significant deposits. They are mordenite, erionite, and phillipsite from Rome, Oregon, clinoptilolite and chabazite from Reese River, Nevada, chabazite (and var. herschelite) from Bowie, Arizona, erionite from Jersey Valley, Nevada, and erionite from Pine Valley, Navada.

Jan 1, 1967

Capital, as represented by mineral resources, is being exhausted rapidly without possibility of identical replacement. The public must be discouraged from thinking-why worry about the bank balance so long as there are plenty of blank checks? Instead of each man, woman, and child being owners of a mineral capital of $89,000 as former Secretary Ickes once stated, they are really the guardians of a mineral reserve which, when harvested, cannot be reproduced. The proper use of this material is the basis of modern civilization and military power. The best American institutions cannot be maintained or transmitted to our children unless this trust is guarded. It is unfortunate that more attention has not been focused on the fact that this country is headed for a have-not status in the family of great nations if some- thing is not done to preserve its mineral heritage. It is the privilege of the United States now to champion and implement democracy because it is industrialized and can get at its raw materials. A high price is being paid every day in mineral depletion for the privilege. No one can eat his cake and have it too. The United States still must face world-wide economic competition and, perhaps, World War III. In the final analysis all wealth comes from the ground, whether plant, animal, or mineral. Value is in-

Jan 1, 1950

By Charles E. Locke

DEPRESSION in all lines of the mineral industry except gold, which began in 1930 and continued, even worse, through 1931, had its effect on ore concentration. Construction was limited to the completion of plants already begun. Every possible economy was adopted. Changes and improvements involving expense were postponed. Research was largely abandoned. Operations became highly efficient and costs were cut down, although this did not necessarily mean a lower cost per ton because of the greatly reduced capacity at which mills were run. Lower metal prices caused the operators to seek the optimum ratio of concentration and grade of concentrates looking toward maximum economic recovery; that is, net profit. In the crushing field no marked changes occurred. The Symons cone crusher for intermediate work is in use almost everywhere. Its manufacturers claim that 900 machines have been installed in 21 countries, replacing two previous steps of crushing and yielding a product sufficiently fine to form a satisfactory feed for rod mills and ball mills. A new Telsmith crusher has appeared which has curved jaws something like the Symons cone and consequently the same advantage as the latter.

Jan 1, 1932

By Michael Rieber

Mineral economics interfaces the mineral sciences and engineering with finance and economics in the analysis of appropriate questions facing the minerals and energy industries. Its practitioners include those trained in the earth sciences; mining, petroleum, and geological engineering; metallurgy and mineral preparation; as well as finance, information systems, economics, and statistics-most usefully in one or more combinations. Allowing for some overlap, three general areas may be identified: evaluation, economic analysis, and resource appraisal. Evaluation begins with mine investment analysis (exemplified by Gentry and O'Neil, 1984) and process costing, for which the STRAMM Handbook (Anon., 1977) provides a well-known basis for mining and beneficiation. But it extends from property appraisal, often used for the determination of taxes and royalties, through the determination and comparison of transport costs (e.g., Richer and Soo, 1977), and to benefit/cost analyses of externalities. Economic analysis, the subject of this section, is displayed in rigor and extent both theoretically and as applied to commodity classes in Vogely (1985), but it is implicit though apparent throughout Lefond (1983). The text edited by Vogely places minerals in their aggregative context with economic growth and trade, proceeds to the theoretical analysis of minerals and their markets, analyzes the structure and performance of the major mineral sectors, and concludes with policy issues: fuel, nonfuel, and environmental. Resource appraisal employs quantitative methods for the estimation of mineral and energy resources. It moves through geologic, geophysical, and geochemical properties to the identification of estimation procedures for mineral endowment and for the economic measure of stocks and flows of specific minerals (Harris, 1984). It can be used to estimate the probable amount of a specific resource remaining in a given region and has been used to project sites in a specific

Jan 1, 2008

By K. S. Benson

DEPLETION is a subject of vital importance to the mining industry. Yet, in spite of its importance, its significance is not generally understood. The purpose of this discussion is to clarify the main aspects of the subject from the viewpoint of a metal mine taxpayer. To define the term depletion, it is necessary to distinguish among its various uses. In the economic or geological sense, depletion means the exhaustion of a natural resource. A mineral deposit is a wasting asset and once exhausted is nonrenewable. Millions of years were needed to produce an ore deposit, which may be consumed in a few years and which cannot be replaced except by the discovery of new sources of supply. The wasting asset feature of the mining industry has a vital bearing on the impact of the Federal Income Tax Law on this industry. This is recognized in the law by the various provisions dealing with the depletion allowance, and in this sense the term depletion has an income tax meaning. Depletion from the tax viewpoint means the statutory deduction from gross income designed to permit the return to the taxpayer of the capital consumed in the production and sale of a natural resource. The mining enterprise realizes income on the extraction and sale of minerals and a portion of the income realized represents capital consumed. As the resource is exhausted, the mining enterprise approaches the end of its existence unless new sources of supply can be acquired. Depletion from the tax viewpoint is a creature of statute with limited meaning and application and, in essence, is a method for amortizing the value of the primary asset of a mining enterprise. An example can best illustrate the significance of depletion from the tax viewpoint. Compare a manufacturing concern with a mining company. In computing taxable income of a manufacturing concern, consideraion is given to the cost of producing such income, the principal costs being capital investment for plant and equipment, labor, and raw materials going into the products produced. A mining enterprise, on the other hand, is faced with a different problem because its principal asset is the natural resource which it is producing. In computing its taxable income, consideration is given also to its capital investment for plant and equipment and the cost of labor; but in addition, recognition must be given to the fact that a portion of the proceeds realized on the sale of mineral represents capital. Without such recognition, the mining company would be taxed not on income but on capital and income, and Congress has never intended that capital be taxed as income. Thus, when depletion allowable is referred to in the mining industry, it means the statutory deduction allowable in computing taxable income of a mining enterprise. For guidance the appropriate provisions of the Internal Revenue Code, Income Tax Regulations, and the judicial decisions interpreting and construing them must be examined. It is important to identify and distinguish three methods of determining the allowance for depletion: 1—Cost depletion, 2—Discovery depletion, and 3—Percentage depletion. The basic method is cost depletion and in addition some taxpayers may be entitled to use discovery depletion and other taxpayers may be entitled to use percentage depletion. Discovery depletion and percentage depletion, however, are mutually exclusive and if a taxpayer is entitled to percentage depletion, he is not entitled to discovery depletion. By statute, a metal mine taxpayer is entitled to use cost depletion or percentage depletion, whichever produces the highest deduction. Thus, discovery depletion is merely of academic interest to such taxpayers and to most others. Briefly and broadly speaking, these methods of determining depletion may be described as follows: 1—Cost Depletion: Under this method, the allowable deduction for depletion is based upon the cost of the particular deposit to the taxpayer, unless the deposit was owned prior to Mar. 1, 1913, in which case the taxpayer may use the fair market value of the deposit on that date or actual cost, whichever is higher. This method is sometimes described as basis depletion or adjusted basis depletion, but in this discussion it will be referred to as cost depletion. 2—Discovery Depletion: Under this method, the allowable deduction for depletion is based on the fair market value of the deposit at the date of discovery or within 30 days thereafter and was originally designed to take into account deposits discovered subsequent to Feb. 28, 1913. 3—Percentage Depletion: Under this method, the allowable deduction for depletion is based on a specified percentage of the income realized during the taxable year from a particular property. As stated, the concept of depletion is based upon the exhaustion of a natural resource as distinguished, for example, from the concept of depreciation based on the exhaustion of property used in trade or business. From the tax viewpoint, depletion first became important in the administration of the Corporation Tax Act of 1909, which provided for an excise tax on net income. As soon as this act went into effect, mining taxpayers attempted to claim a deduction for depletion in computing net income although there was no specific mention of a deduction for depletion in the statute. The courts in these cases uniformly held that the statute did not permit an allowance for depletion in computing net income and also held that the provision permitting a reasonable allowance for depreciation did not include depletion. These early cases are quite significant because they establish the principle that the

Jan 1, 1952

By W. Keith Buck

This paper defines the discipline of mineral economics. By example, it describes the application of the tools of economic analysis to mineral problems - to problems in the areas of: mineral resource analysis and forecasting, mineral industry activity from exploration to distribution and marketing, mineral commodity analysis, and mineral policy analysis and policy formulation - all in a regional, national or international context.

Jan 1, 1972

By Elmer W. Pehrson

NINETEEN FORTY-SIX was an eventful year for the mineral industries. Perhaps the most significant development was the socialization of industry in Great Britain, initiated in 1945 but carried to fruition in the coal industry in 1946. On Jan. 1, 1947, management of the coal industry will be vested in a National Coal Board, responsible to the Ministry of Fuel and Power. A sum of £164,660,000 has been provided to compensate private owners for assets transferred to the Board. The British coal industry has been a problem for many years. Production has declined to a point where serious shortages of fuel for domestic needs have developed. Exports have dwindled to a small fraction of the previous trade. Costs have increased greatly, and quality has deteriorated. The industry's physical plant has not kept pace with the rapidly mounting wage scales in recent years. Some claim that the best and most accessible coal reserves of Britain are heavily depleted. The industry has been harassed by difficult labor problems, including bad morale among the workers and a shrinking labor force.

Jan 1, 1947

By AIME AIME

FOR the mineral industry, as for many others, the year 1944 brought to fruition the seeds planted in previous war years. Accomplishment in attaining ends in the production of minerals has given more time for the consideration of postwar problems, such as plans for resuming production for civilian uses and measures to prevent possible mass unemployment. The hectic atmosphere in production circles lessened during the latter half of 1943, conditions becoming static during 1944 as peak production rates were reached. Withdrawal of deferment of young men from the mining districts by Selective Service connotes that man power at the battlefronts became more important than the persistence of pressure for metal production. This is in contrast to the return of soldiers in 1943 to augment the labor ranks in the mining districts. The year ended in the midst of changing needs. Over-all metal production in the United States in 1944 will record a lessening, compared with the previous year owing to labor shortages which affected both development work and ore output.

Jan 1, 1945

By E. A. Holbrook

AT the meeting of the Committee on Engineering A Education of the Institute at the New York meeting last February, it was brought out that the number of men graduating in mining engineering from our colleges at the present time is not sufficient to meet the ordinary needs of the mineral industries. Following the meeting, Samuel S. Wyer, consulting engineer of the Fuel-Power Transportation Educational Foundation of Columbus, Ohio, prepared a pamphlet called "Mining Engineering's Appeal to High School Seniors." Under the auspices of this Foundation the pamphlet is being sent to every high school in the United States. The pamphlet does not in any way paint glowing word pictures of the profession; rather it is a statement of the importance of mining engineering in our present-day civilization, together with the requirements in young men who are looking forward to an engineering career.

Jan 1, 1930