A New Era for Mineral Processing

The United States is rapidly approaching an acute shortage of minerals. According to some observers, this situation may even be more severe than the energy crisis because the US consumes nearly 30% of the world's mineral production. With the mounting competition for world mineral supplies, we can no longer take for granted that foreign mineral products will be available to the US as abundantly as in the past. In 1973, US consumption of mineral raw materials was $35 billion. Of this, $7 billion consisted of imports. Without a drastic reorientation towards the mining of domestic mineral resources, the 1973 $7 billion deficit might mushroom to $100 billion by the year 2000. Thus, a return to domestic sources of raw materials will become absolutely necessary-and will be bucking the trend of the past 25 years, characterized by capital investment for growth in multinational overseas mining operations.