Value of Nation’s Mineral Production Rose Again in 2007
The preliminary estimated value of U.S. nonfuel mine production rose last year to $68 billion - a 2.9 percent increase from that of 2006, the U.S. Geological Survey (USGS) announced. This was a 5.6 percent increase from the preliminary estimated 2006 value released at this time last year. Higher prices for many minerals resulted in the increased value of production, although the quantity produced decreased for most mineral commodities.
Major industries that consume processed mineral materials accounted for more than $2 trillion of the U.S. gross domestic product of $13.8 trillion in 2007. Domestic production decreased for industrial mineral materials associated directly with housing construction and those associated with the manufacture of goods used by the housing industry, according to the annual USGS report “Mineral Commodity Summaries 2008.”
The report provides detailed information about events, trends, and issues in the domestic and international mineral industries during 2007. It summarizes mineral industry trends for individual mineral commodities and provides an outlook for domestic mineral industries in 2008. Separate chapters for about 90 mineral commodities include salient statistics on production, trade, and resources.
The estimated value of domestically processed nonfuel mineral materials totaled $575 billion in 2007. This is an increase of about 1.4 percent, based on revised 2006 data from the U.S. Census Bureau. Mine production of gypsum, industrial sand and gravel, silver, soda ash, dimension stone, and zinc increased, according to the USGS report. The value of copper, gold, iron ore, lead, molybdenum, phosphate rock, potash, and talc production increased, although the amount mined decreased. The value of aluminum, lime, nitrogen, and sulfur production also increased.
Global consumption of metals and minerals increased, especially in the rapidly growing economies of China and India, resulting in higher prices for many mineral commodities.
The USGS is the sole federal government provider of scientific information and objective assessments on mineral resources, production, consumption, and environmental effects. The agency evaluates these materials because they are used to make a variety of manufactured products contributing to our nation’s economy and national security.
The USGS collects, analyzes, and disseminates current data on mineral commodity industries in the United States and about 180 other countries.
Editors: “Mineral Commodity Summaries 2008” is available. Hardcopy will be available in February from the Government Printing Office, Superintendent of Documents. Call 202-512-1800 (866-512-1800) or visit http://bookstore.gpo.gov/ for ordering information.
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