Minerals In The World Economy

The major developments of the world's Mineral economy in 1955 were the continued rise in production and consumption of practically all major minerals. the sharp increase in output of the fertilizer minerals in response to demands for greater food output, the cutback, in new investment for steel capacity in Europe and Japan, Europe's continuing decline as a producer of primary minerals, and the emergence of nuclear power as an economically competitive factor in the energy economies of the United States and Western Europe. In resource development, discovery of new natural gas deposits in the North Sea and the continued development of Australia's bauxite and iron ore resources, making this country a major source for these commodities, were significant.