Minnesota - Cyprus Will Take Write-Down on Coal Mine

The review of mineral activities in Minnesota arrived too late to appear in the May issue. Minnesota continued to lead the nation in iron ore production in 1989 with more than 70% of the market. At no time in the past 50 years has Minnesota's iron ore market share fallen below 50%. 1989 production was provided by six iron ore pellet operations and one high-grade iron ore mine. Most American steel companies are represented in these operations through whole or partial ownerships in Minntac (USS), Minorca (Inland), Eveleth Mines (Armco and Rouge), Hibbing Taconite (Bethlehem), and LTV Steel and National Steel Pellet. A seventh iron ore pellet producer started up in 1989 when Cyprus Minerals acquired the assets of bankrupt Reserve Mining Co. This operation, with first production scheduled for 1990, will be the only non-steel company captive operation in Minnesota. Encouraging minerals development In an attempt to stimulate further and additional mineral development in Minnesota, the state's legislature established a Minerals Coordinating Committee (MCC). This committee is comprised of the Department of Natural Resources-Division of Minerals, the Minnesota Geological Survey, the Natural Resources Research Institute, and the Mineral Resources Research Center. The Committee has sponsored and coordinated various projects. Among these MCC-sponsored projects are glacial drift geochemistry with an emphasis on gold and indicator minerals, accelerated geologic mapping, continued aeromagnetic surveying of Minnesota, greenstone geochemistry, structure and stratigraphy of the Duluth complex, and drill core and exploration data acquisition from past exploration programs. Regarding drill core, the Division of Natural Resources completed construction of its third core library building in Hibbing. These data and core are available for public examination.