Mineral Highlights - General

On December 16, the General Services Administration (GSA) suspended weekly sales of surplus silver from the national defense stockpile because Congress approved the Defense Appropriation Act, which contained an amendment to halt silver sales. The amendment, introduced by Senator James A. McClure (R., Idaho), prohibits sales for 6 months while the impact of the sales and alternative methods of disposal are evaluated. The GSA sold 2 million troy ounces since sales started October 14. 46.5 million troy ounces were authorized to be sold during this fiscal year and an additional 58.6 million troy ounces were authorized to be sold over the following two fiscal years. The stockpile held 139.5 million troy ounces of silver when sales began in October. Brush Wellman, Inc., a vertically integrated producer of beryllium products announced plans to modify its Delta, Utah beryllium concentrate processing facility to utilize beryllium concentrates containing as little as 7% beryllium oxide. The company plans to invest $2.5 million for this modification with completion expected in mid-1983. Implementation of this plan to consume lower grade beryllium minerals will significantly increase world reserves of beryllium concentrates.