Mining And Quarrying Trends In The Metal And Nonmetal Industries (cb45e177-1a13-4da7-9ede-d648355b5d7e)

Raw non fuel minerals produced in the United States during 1981 had an estimated value of $25 billion, about the same as that of 1980. In terms of 1980 dollars. the value of minerals produced during 1981 was $23 billion.2 This chapter includes tables for 1980 that were not available for publication in the 1980 Minerals Yearbook, but does not include the corresponding tables for 1981. The underlying causes of the overall decline in U.S. nonfuel mine production during 1981 were varied, but the common factor was the worldwide recession. In some cases the decline was traced to foreign competition. For example, iron ore production was lower in part because of increased imports of steel products such as coiled steel sheet. Another problem experienced by the domestic mining industry was the continuing difficulty in attracting capital. This was due in part to the attractiveness of investments outside the mining industry, such as short-term, high-interest securities. Another reason was the importation of commodities from countries where overall costs were lower because of such factors as high ore grade, lower taxes, lower wages, government subsidies, and less stringent safety and environmental regulations.