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By T. O. Dauda, L. O. Ojo

One of the results of the Earth summit (The United Nations Conference) on Environment and Development - UNDP is the statement of forest principles. Others include: the Rio Declaration which is that the human beings are entitled to a healthy and productive life in harmony with nature; Agenda 21-for achieving sustainable development in the 21st century; the convention on biological diversity and the frame work convention on climate change. In the preservation of the biological diversity, Government at various levels took series of steps such as legislation, establishment of forest reserves including strict nature reserves, Forest guards, afforestation projects and others. Omo Forest Reserves is one of the Forest reserves owned by the Ogun state Government of Nigeria. It houses the Omo Biosphere Reserve (that is Strict Nature Reserve of International standard). This biosphere reserve is surrounded by buffer zones, which are meant to serves as protection for the biosphere reserves against encroachments. This study showed that the richest plot in term of species composition (that is plot 15 with the species frequency of 123) is almost the least diverse (with Simpson diversity index of 0.9127 which is 0.0238 higher than the least). It could also be established from this study that the diameter size class of trees with the highest frequencies are the lower size classes (5cm-10cm and 10cm -20cm). These results revealed a magnanimous encroachment on the buffer zones, which is an indication of bad status for the Biosphere Reserves as well as against the spirit of the sustainable use of the natural resources.

Jan 1, 2005

By William R. Yernberg

The combined 79th Annual Minnesota Section of SME Meeting and 67th Annual University of Minnesota Mining Symposium was held April 11 and 12, 2006, in Duluth, MN. About 300 mining professionals attended, including engineers, executives, mining managers and suppliers, from throughout the United States and Canada. This year’s theme was “Success in the New World of Mining.” The SME Minnesota Section meeting included a keynote session, a special projects update, a general managers update and technical paper presentations. The University of Minnesota Mining Symposium program featured a panel discussion on Minnesota’s relationship with China. The combined meeting included a trade-show consisting of 64 booth spaces. Tradeshow demand exceeded expectations, and an additional 10 booth spaces were added in the registration lobby. Also included were an SME short course on pump basics and social events.

Jan 1, 2006

By F. L. Pirkle, D. L. Pirkle, E. C. Pirkle, W. A. Pirkle

Heavy minerals have been mined from the sands of the United States’ Atlantic Coastal Plain since the early part of the twentieth century. Production of ilmenite from beach sands near Mineral City (Ponte Vedra), Florida, began in 1916. The first reported large-scale recovery of zircon in Florida was reported from this deposit in 1922 and of rutile in 1925. These operations ceased in 1929. Today the Ponte Vedra Country Club and Golf Course is situated in the center of the former mining site. In 1942 heavy-mineral operations were established on 202 hectares of land situated in Duval County, Florida. The location is about 16 kilometers east of the center of Jacksonville, Florida, in an area known as Arlington. This operation demonstrated that low-grade sand containing only 2 to 3 percent titanium minerals could be concentrated economically with the Humphreys spiral and that the oxides could be separated from the heavy silicates by electrostatic methods. Much of this area is now covered by a large mall and is a major retail- commercial center. Between 1958 and 1964 the Skinner tract, a deposit about 4 kilometers south of the above deposit, was mined. Today the area of this deposit is known as Deerwood, a gated country club community on the southside of Jacksonville. Further inland, E.I. du Pont de Nemours and Co. has been mining heavy minerals from a physiographic feature known as Trail Ridge since 1948, and a deposit near Green Cove Springs, Florida has been in production since 1972. Since the start of heavy-mineral mining in the southeastern United States, nine heavy-mineral ore bodies either have been or are being exploited in Florida and Georgia. Other deposits either have been lost to mining or are yet to be mined. These deposits have different origins. Some formed along shorelines at the heights of marine transgressions while others formed on regressional beach ridge plains during periods of temporary stillstands or slight transgressions. These different origins are reflected in the chemical and physical characteristics of the deposits. Ilmenite in older, more western deposits has a higher TiO2 content than ilmenite in younger, more eastern deposits. TiO2 content does not very with north-south direction. Garnet and epidote are absent or rare in the older Trail Ridge deposits, but progressively become common in the younger Duval Upland, Crestal Pamlico, and Holocene deposits. Grain size is coarsest for Trail Ridge sediments and finest for sediments in Duval Upland and Crestal Pamlico deposits. The average grain size for Holocene deposits is intermediate between Trail Ridge and Duval Upland deposits. The two models for the origin of the heavy-mineral deposits – deposits formed at the height of major marine transgression; and deposits formed during periods of temporary stillstands or slight transgressions that occur during a general marine regression; - are consistent with known sedimentological data and depositional trends.

Jan 1, 2005

By Steve Kral

Not too many years ago, mining was in one of its cyclic down-sides. This forced mining companies into some innovative thinking to bring down the costs of production. And they have. Mining equipment and processing plants have become more efficient, mostly due to technological advances. The mining industry is now in a boom period, one that some analysts believe can sustain itself. But even with higher commodity prices, sky-rocketing energy costs and the costs associated with environmental and reclamation regulations have not allowed all mines to reach their full profitability potential.

Jan 1, 2006

By Diane Jones, Jeremy Spearman, Tom Matthewson

Requirements for minerals are on the increase globally and the deep sea offers a potential source of essential materials. Extracting these minerals from what is considered an environmentally sensitive area, and one about which little is still known, is a challenging activity, which needs careful consideration and an appropriate environmental impact assessment to be carried out. Extraction of material from the deep sea beds can cause disturbance or damage to benthic communities; impact on mobile marine species such as fish, mammals and reptiles; cause increases in suspended sediment and sediment deposition onto potentially sensitive areas or potentially release contaminants which were previously bound to the sediment. This paper discusses the potential environmental issues surrounding extraction of deep-sea deposits using aggregate dredging techniques and how those issues can be appropriately assessed. In particular issues of suspended sediments, plume transport, water and sediment quality and underwater noise impacts on potentially sensitive species and habitats will be explored.

Sep 1, 2014

By Carl E. Williams

During the past two years a computer program called "COPOR," Computerized Open Pit Optimization Routine, has been developed and used for mine planning of several base metal deposits. This routine utilizes a three dimensional computerized block model of an orebody, some economic parameters and operating constraints to locate the mineable or economic limits of the deposit schedule the yearly production from the mine and produce bench by bench ore reserve summaries and maps of the yearly and ultimate pit configurations. The moving cone method is used to perform these functions with a conventional block model. This model is conventional in the sense that each block is assumed to be homogenous; i.e., either ore or waste but not a mixture of the two. Due to the nature of a seam type deposit this approach is not realistic; therefore, revisions have been made to form a new version of the COPOR program. This version has been named "COALOR," Coal Optimization Routine. COALOR contains all of the power of the COPOR program but is equipped to handle the intricacies of coal seam type deposits. The deposit can be composed of a single seam or multiple seams which are horizontal or dipping at any angle. The numerous coal quality values can be incorporated to aid the optimization of the economic pit limits and yearly scheduling.

Jan 1, 1978

The Earth?s population is approaching 6.6 billion people. More than half live in urban areas. And, as those figures continue to grow, the need to make wise use of the world?s natural resources as well as its living space will also grow. Thus, the concept of sustainable development ? meeting the needs of the current generation while preserving resources for future generations. The use of underground space is only one part of the sustainable development concept. But it is an important one. Tunnels and underground space are environmentally friendly and contribute significantly to sustainable development. But it takes years to plan and build tunnels and other underground infrastructure. And the demand for infrastructure in the world?s mega cities has grown significantly. In December, about 100 people representing several developed and developing nations spent a day at the United Nations (UN) in New York City discussing the future of underground space development throughout the world. The meeting was put on by the UN?s Department of Economic and Social Affairs and the International Tunnelling and Underground Space Association (ITA). The conference was titled ?The Use of Underground Space as an Unexpected Solution for Promoting Sustainable Development.? Its aim was to promote practical solutions to the use of underground space and tunnels as feasible alternatives to promote sustainable development throughout the world. A panel of speakers from government, academia, the UN and the ITA stressed that development is not sustainable without infrastructure. And, as the world?s population grows, there is now an urgent requirement to efficiently plan for the use of underground space to preserve it for the future benefit of mankind. The benefits of the use of underground space are many, they said. Among them: ? Tunnels channel clean water in and waste water out. This promotes health and sustainability worldwide, particularly in developing countries. ? The use of tunnels and underground space helps conserve energy and increases its efficient use ? the use of tunnels cuts commuting time and so saves energy. ? Tunnels, microtunnels and other underground structures promote the more efficient use of space in large cities ? the bulk storage of water, fuel and other goods. ? Underground structures are subject to less stress than surface structures, making them safe havens for natural and man-made hazards, including earthquakes. And, because underground structures are more durable, lifecycle costs are less than surface structures. ? Underground structures promote the multiple use of available land. Land owner-ship at several layers increases land use and provides more usable space. Han Admiraal is director of the Center for Underground Construction in the Netherlands. He said that urban planners need a new vision concerning the use of underground space. Going underground protects historical and archaeological surface facilities, he said. Underground space use can also protect populations located in adverse climates. And sensitive environmental areas on the surface can also be protected from development. In addition to the transportation of people, freight and water, underground development can also store water, as well as provide storage for waste, hazardous materials, carbon dioxide and geothermal energy. The upshot of this new awareness and vision for under-ground space is that its use should be considered before surface development, Admiraal said. And planners and developers are placing more emphasis on underground space development as part of their overall development plans for urban areas. That was not always the case, he said. In the past, underground space was not considered until after the surface space had run out, he said.

Jan 1, 2008

By SANJIT KUMAR PAL, Sarvesh Kumar, Arindam Guha

The integrated geophysical study around pipe 1 and pipe 2 in Wjarakarur Kimberlite Field (WKF) assisted in comprehending the response of pipes. In the present study, we have attempted a combined analysis of very low-frequency electromagnetic (VLF-EM), electrical resistivity tomography (ERT), and magnetic methods to analyze the response from pipe 1 and pipe 2. A comparative analysis along all the profiles revealed the extension, depth, and geometry of the pipes. The results of VLF data and ERT data have been compared for two profiles of pipe 1 and pipe 2. Fraser-filtered grid map generated from all profiles of pipe 1 proficiently demarcated the trend of kimberlite pipe extension with high Fraser filter value associated with kimberlite. The ground-based magnetic data around pipe 1, pipe 2, and pipe 6 have been processed to analyze the magnetic behavior and subsurface structure based on the susceptibility contrasts. Analytical signal (AS) map revealed the extension of pipes, which was validated with the Fraser-filtered grid map. Analytical signal anomaly pattern reveals that pipe 1, pipe 2, and pipe 6 are trending in SW-NE, NE-SW, and NE-SW, respectively. Based on this study, the results indicate the conducting nature of pipe 1, whereas pipe 2 is resistive in nature. Further, the Euler deconvolution technique has been applied to calculate the possible depth of pipes from magnetic data. The comparisons of calculated depth ranges obtained from all geophysical techniques correlate well and validate the result (Table 1). The geological borehole data at pipe 1 and pipe 2 reported by the Geological Survey of India are well corroborated with our combined geophysical study.

Jan 17, 2024

By A. Schaum

On average, there are approximately 10 fatal haul truck accidents per year. The most common causes for haul truck accidents include mechanical problems, inadequate training and insufficient road/berm maintenance. Due to the frequency and magnitude of haul truck accidents, new training methods are being investigated. With the widespread availability of computers and new technology becoming more reasonably priced, the ability to incorporate computer-based training for miners is becoming more possible. It has been shown that computer-based training is just as effective in knowledge acquisition as traditional lectures, and computer-based training can lead to a significant increase in the retention of material (Williams and Zahed, 1996). Studies have also shown that more engaging training methods lead to more effective knowledge acquisition (Burke et al., 2006). A supplemental system for current and new miner training to address the common causes of fatal accidents was developed. The training system is a virtual preshift inspection of a haul truck, and it can train new haul truck operators to identify parts that look defective. The training will increase an operator?s ability to recognize problematic parts and correctly identify the corrective action needed. Increasing the quality of training by providing an engaging, simulated hands-on environment will lead to safer behaviors by trainees, which will ultimately lead to fewer accidents and fatalities.

Jan 1, 2008

By Duluth Engineers' Club, Engineers' Club of Northern Minnesota

"The history of Duluth commences with Daniel de Greysolon du Lhut, one of the explorers of the Upper Mississippi who came to the head of the lakes in the summer of 1679. Radisson and Groseillier, and Claude Allouez, a Jesuit priest, are supposed to have visited the head of the lakes, -but there is no authentic record previous to that of du Lhut.In 1792, the fur traders established a fort at Fond du Lac, fifteen miles up the St. Louis River from Lake Superior, but within the limits of the present city •of Duluth. In the early 50's, there were a few scattering settlers at Oneota and around the George Stuntz trading post on Minnesota point. In 1855-6, the settlement on Minnesota point was called Duluth, commemorating the name du Lhut, and organized as a town in 1857. The first board of trustees and town council consisted of -William Nettleton, J. B. Culver; Robert E. Jefferson, Grin W. Rice and William Old: In 1870, the city of Duluth was incorporated, and five years later a portion of the same territory was incorporated as the village of Duluth, and the two municipal corporations were still in existence on March 1, 1887, when the city and the village of Duluth were incorporated as the present city.The first saw mill in Duluth was erected in 1856-57, on the present site of the ship canal. It cut logs from a virgin forest at the upper end of Minnesota point.The first railroad was built to the head of the lakes in 1870. The charter for this road had been granted in 1861 to the Lake Superior and Mississippi Railroad Company, afterward called the St. Paul and Duluth, and which is now a part of the Northern Pacific Railroad."

Jan 1, 1920

By D. R. Wilburn

The worldwide budget for non fuel mineral exploration was expected to increase by 27 percent in 2003 from the 2002 budget, according to the Metals Economics Group (MEG) of Halifax, Nova Scotia. The increase comes after five years of declining spending for mineral exploration. For the first time in several years, all regional exploration budget estimates for 2003 as defined by MEG would increase from similar 2002 estimates. However, MEG included 193 more companies in its 2003 survey than in 2002. As with previous MEG survey reports, estimates reflect anticipated expenditures rather than actual dollars spent. Caution, therefore, must be taken when comparing 2002 and2003 estimates or evaluating the magnitude of regional changes from year to year. Sample variations and currency exchange rates may influence year-to-year variations of MEG data. Even so, it is likely that the general climate of improved metal prices in 2003 encouraged companies that had previously left the mineral exploration sector or reduced their exploration activity to once again focus on minerals exploration or increase exploration activity and budgets.

Jan 1, 2004

By J. P. Ducarme

Numerous fatal/nonfatal accidents involving underground workers struck by powered machinery occur yearly, with continuous miners and roof bolters involved in the majority of these accidents. In an attempt to reduce these accidents, researchers at the the National Institute for Occupational Safety and Health (NIOSH) Pittsburgh Research Laboratory conducted studies of operator interactions with the motions of continuous mining machines and roof bolter boom arms. These operators generally perform their tasks in close proximity to the equipment in confined workspaces, often employing awkward postures. Since experiments with human subjects using the actual equipment were not feasible due to safety concerns, researchers opted to conduct controlled experiments in laboratory settings. Utilizing motion capture technologies and computer simulations, the studies collected data on equipment and operator movement in a range of seam heights and working postures. This article details the results of these studies to examine operating speeds based on usage and seam height.

Jan 3, 2010

By Trevor R. Ellis

The extractive industries addition to the International Valuation Standards (IVS) is scheduled for publication in the next edition of the IVS book in January 2005. This will provide guidance for valuation of minerals and petroleum industry assets of all types for all appraisal uses. It will provide asset valuation support to the International Financial Reporting Standards for the stock markets of the world, and a global umbrella standard which can be supplemented for local needs by institutes and regulators. This paper discusses implementation of the IVS within the minerals industry and important issues that the industry should confront.

Jan 1, 2005

By C. C. Hamilton, G. R. Lane

Traditionally, mineral sands are evaluated by preparing several mineral products using a combination of heavy liquid-, magnetic-, and electrostatic methods. Whole-rock assays (WRA) are then conducted on ilmenite, rutile and zircon products in order to determine trace element contents, which may affect project feasibility. Combined methods can be time consuming, expensive and even outdated due to the use of banned and toxic chemicals such as clerici solution. Coupled with large field-sample quantities, these procedures can potentially introduce unacceptable sampling and related errors. Modern mineralogical analysis techniques can provide complete mineralogical inventories on a single THM product, reducing the amount of processing involved in satisfactory characterization of early exploration samples. A small exploration sample can be processed to produce a small THM concentrate using readily available gravity/density methods. In turn, the THM product is submitted for Whole Rock Analysis (WRA) and mineralogical inspection by X-ray diffraction (XRD), and microscopic evaluation. Modal mineralogy and textural data can be determined using optical methods, automated image analysis, and scanning electron microscope (SEM) based systems. Benefits of automation are reproducibility and the capability of rapidly analysing thousands of particles as opposed to manual optical methods. Automated systems include the use of Automated Digital Image Analysis (ADIS), and SEM-based systems such as the Mineral Liberation Analyser (MLA) and QemSCAN. For detailed mineral chemistry, microanalysis techniques ranging from electron microprobe (EMPA) to Secondary Ion Mass Spectrometry and Laser Ablation Mass-Induced Coupled Plasma-Mass Spectrometry (LAM-ICP-MS) are used. Examples of these automated and analytical methods are presented. ADIS at SGS-Lakefield Research uses optical characteristics to identify and measure mineral species in THM samples; rutile, pseudorutile, ilmenite and leucoxene can be distinguished. Analysis of a single THM product provides bulk modal mineralogy and grain size distribution of particles and the individual mineral grains. Textural information is also obtained detailing mineral associations as well as degree of alteration. Where textural and chemical resolution renders mineral identification ambiguous, SEM-based methods offer better resolution. Examples of this ambiguity are shown in this paper, which leads to QemSCAN as the preferred method where within-grain variability is concerned. Sampling and measurement strategies are followed to meet study objectives, providing a value-added framework for a sequential, cost-effective strategy, which will meet due diligence and bankable accreditation criteria. Studying a THM product by electron microprobe and LAMICP-MS may reveal potential fatal flaws related to mineral chemistry. Low detection limits in the range of 200 to 500ppm are possible using electron microprobe analysis for suitable matrixes (U, Th in zircon). For the detection of ultra low level elemental contaminants, LAM ICPMS is the most accurate method of evaluation. Elements including U, Th, La, Ce, Nb, and V in Ti-minerals can be determined down to 50 ppm.

Jan 1, 2005

By Raquel Costa, Aldino Campos, Frederico Carvalho Dias, Pedro Madureira, Patrícia Conceição, Ana Filipa Marques, Andreia Afonso, Maria Ana Martins, António Calado, Luísa Pinto Ribeiro

Since its formation in 2004, the Task Group for the Extension of the Continental Shelf (EMEPC) has been collecting hydrographic, geological and geophysical data to support the extension of the continental shelf beyond 200 NM. In 2008, the EMEPC acquired a 6,000 m rated ROV named "Luso" and has been cooperating with several national and international institutions to increase and improve its operational capabilities to conduct research on deep-sea minerals. The Portuguese continental shelf corresponds to a broad area of the seafloor encompassing different physiographic domains: the mid-Atlantic ridge system, abyssal plains and numerous seamounts. From 2008 to the present, the mid- Atlantic ridge and seamounts have been the most visited sites with the ROV "Luso". Several hydrothermal vent sites are known to occur along the mid-Atlantic ridge to the south of the Azores archipelago and mostly within the Portuguese EEZ. Vent fields were also discovered in the extended continental shelf, namely the Rainbow and the Moytirra sites located to south and to the north of the Azores archipelago, respectively. The most studied seamounts correspond to those forming the Great Meteor chain and the Madeira- Tore rise. All these visited sites are related either with the occurrence of polymetallic sulphides or cobalt rich Fe-Mn crusts and the opportunities to further pursue their exploration will be discussed.

Sep 1, 2014

By Günter Huber, Bruno Mattle, Helmut Westermayr, Daniel Spöndlin, Max John, Nejad Ayaydin

PROJECT DESCRIPTION Alignment The Strenger Tunnel forms part of the S16 four-lane expressway between Landeckand Bludenz. The construction of this important East-West connection started in 1973with the Arlberg Road Tunnel as its key constituent. Beginning in 1992, solutions for the section between Pians and Flirsch were investigated. Efforts to conserve nature and to avoid potential avalanche and landslide areas led to a solution detouring the villages in the Stanz valley. The starting points were predetermind by the intersections at Pians in the East and at Flirsch in the West. As a result of the expected traffic load and the comparatively high gradient of 2.9%, both one-way, two-lane tubes were constructed at once. The north tube is 5.851 m long, the south tube 5.775 m, see Figure 1. Layout of Tunnel Cross-Section The tunnel cross-section was determined by 2 × 3.75 m wide, 4.70 m high roadways, two sidewalks and sufficient space for two fans above the clearance

Jan 1, 2005

By David Cronan

"Most of the recent renewed interest in manganese nodule mining has been focused in the Clarion-Clipperton Zone (CCZ) in the NE tropical Pacific where nodules are rich in Mn, Ni and Cu. However, equally interesting, but compositionally different, nodules occur in the tropical central South Pacific (CSP). The CC Zone deposits lie in the International Seabed Area whereas those in the South Pacific lie mainly in the Exclusive Economic Zones of Island States, principally the Cook Islands and Kiribati. The CSP nodules should not be regarded as an alternative resource to CCZ nodules, as they are enriched in different elements. Rather, the CCZ nodules should be thought of as a source of one group of metals (Mn, Ni and Cu) and the CSP nodules the source of another group (see below), mutually complementing each other and to be mined in parallel for their different metals.Manganese nodule mining in the South Pacific has been mooted since the 1970s. However, new data on manganese nodule composition and abundance there have recently appeared. Also, a recently developed interest in 'rare', 'green' and 'technology' elements has necessitated a re-examination of old South Pacific nodule data for information on these elements (previously thought to be economically unimportant), and the re-analysis of the deposits to obtain new data on them. Additionally, current and possibly future applications to the UN to extend island 'continental shelf' areas necessitates an appraisal of the manganese nodules in these areas. These developments have prompted recent work that has helped to refine our understanding of the distribution and abundance of metals of traditional interest in South Pacific nodules, namely Mn, Co, Ni and Cu, but has also drawn attention to other elements of possible economic interest including titanium (Ti), vanadium (V) and the rare earth elements (REE)."

Sep 1, 2014

When it comes to processing industries, speed matters. More precisely, the faster/greater the throughput of finished product out the door, the more quickly money can flow back into the corporate coffers. In this quest for greater output, no processor can afford any weak links in the chain. Especially in the case of bulk solids operations, any one piece of equipment that slows the process down jeopardizes the profitability of the entire plant. However, one clay processor uncorked a pre-existing bottleneck by replacing its outdated separating equipment with a new design that immediately improved output.

Jan 1, 2007

By Akira Ishikuro, Masamichi Shintaku, Futoshi Kusumoto, Takeshi Kudo

"The Bankei-Kitanosawa tunnel that is located in Sapporo, Hokkaido, Japan includes a 450m long section near the arrival point where mudstone which can liquate out natural hazardous materials such as arsenic and selenium exceeding the tolerance stipulated by country as well as weathered mudstone and unconsolidated sedimentary rocks with small overburden and the competence factor less than 1.0 are present. The mucks containing hazardous materials were disposed into the waterproof branch tunnels created from the inside of the main tunnel. The full face early ring closure method was employed to ensure the stability of the tunnel in the low strength rock masses having no stand-up time. As a result, the waterproof tunnels branching off the main tunnel can manage water tightness so as to ensure safety and relief against environmental risks of the hazardous materials. It is also demonstrated that the full face early ring closure method enable construction of the tunnel with a small overburden in the low strength rock masses. INTRODUCTION The Bankei-Kitanosawa tunnel includes a 450m long section near the arrival point where mudstone which can liquate out natural hazardous materials such as arsenic and selenium exceeding the tolerance stipulated by country as well as weathered mudstone and unconsolidated sedimentary rocks with small overburden and the competence factor less than 1.0 are present. In order to overcome the restrictions, the hazardous materials were designed to be disposed into large cross section waterproof tunnels which were newly designed and constructed in high strength and hazardous material free Andesite. The lining for the tunnels was composed of with shotcrete. In addition, full face early ring closure (Sato et al., 2013) was employed to stabilize the tunnel so as to enable safe tunnel excavation in low strength rock masses where a ground arch is deemed unachievable. This paper presents the safe disposal method of mucks which are likely to liquate out natural hazardous materials as well as the full face early ring closure method and its mechanical characteristics."

Jan 1, 2016

By P. A. Plunkert, D. E. Morse, L. McCartan, J. F. Papp

The mineral sector is a fundamental part of the U.S. economy. It contributes to the real gross domestic product (GDP) at several levels — basic (mining), intermediate processing, manufacturing of finished goods and construction. The real GDP during 2004 increased by 4.4 percent. The nominal GDP was about $11.7 trillion. Housing starts were up by slightly more than 4 percent for the year. And the nation’s unemployment rate decreased to5.5 percent in 2004 from 6 percent in 2003. Interest rates continued to be low (prime rate was 5.25 percent at the end of 2004) but have risen gradually, following rising inflation.

Jan 1, 2005