Value Of World Crude Mineral Production

The estimated value of world crude mineral production in 1992 was $1,633.3 billion in terms of current (1992) dollars, or $1,178.0 billion in terms of constant 1983 dollars. This latter figure was 4.8% above the 1992 level but was 2.4% below the record-high level of $1,207.1 billion 1983 dollars set in 1980. Table 1 provides the latest available revised time series of the estimated value of world crude mineral production both in terms of 1983 constant dollars and in terms of current dollars. The statistical base for this estimation is derived from the data on the value of production of a group of key commodities that was published in the authoritative French language mineral industry periodical, Annales des Mines, for selected years up to 1983. The aforementioned values and those presented in the table are for crude minerals only and only begin to suggest the impact that the mineral industry has on the world economy. These figures represent only the value of mineral materials as they are mined or otherwise extracted from the Earth. They do not reflect the value added to these materials through downstream processing within the facilities commonly accepted as mineral industry plants. That is, value added through beneficiation of ores, smelting, refining, and similar processing is not included in these figures. Comprehensive world data on the value added by such processing are not available; however, a conservative estimate of the total value of processed output from mineral industry plants derived wholly from primary (newly mined) materials would be on the order of about $2,800 billion constant 1983 dollars or $3,900 billion in terms of 1992 dollars.