U.S. Geological Survey Mineral Commodity Summaries - 2016

Mining & Minerals - Evaluations

Date posted: 01/31/16

Each chapter of this 2016 edition of the U.S. Geological Survey (USGS) Mineral Commodity Summaries (MCS) includes information on events, trends, and issues for each mineral commodity as well as discussions and tabular presentations on domestic industry structure, Government programs, tariffs, 5-year salient statistics, and world production and resources. The MCS is the earliest comprehensive source of 2015 mineral production data for the world. More than 90 individual minerals and materials are covered by two-page synopses. For mineral commodities for which there is a Government stockpile, detailed information concerning the stockpile status is included in the two-page synopsis. In 2015, the estimated value of total nonfuel mineral production in the U.S. decreased by 3% from that of 2014, mainly as a result of decreased metal prices, especially iron ore, copper, and precious metals. The value and quantity of industrial minerals production increased, especially for those used in the construction sector. Lower metal prices were attributed to decreased consumption, especially in China, reduced investment demand, and increased global inventories. Several U.S. metal mines were idled in 2015, including the only U.S. rare-earth mine at Mountain Pass, CA. Downstream processors were also affected with smelters and refiners either shutting down or with idling production lines. However, minerals remained fundamental to the U.S. economy, contributing to the real gross domestic product at several levels, including mining, processing, and manufacturing finished products. The estimated value of mineral raw materials produced at mines in the United States in 2015 was $78.3 billion, a 3% decrease from $80.8 billion in 2014. Domestic raw materials and domestically recycled materials were used to process mineral materials worth $630 billion. The estimated value of U.S. metal mine production in 2015 was $26.6 billion (table 1), 15% less than that of 2014. Good read .....