Letters To The Editor - The Broadening Road To Foreign Investment

I do not think too much emphasis can be placed upon creation of favorable climate for development of foreign mineral resources to feed the hungry maw of our industrialized nation. We have become dependent, not only upon the ten raw products indicated in Mr. Bancroft's article, but upon 71 mineral substances listed by DMPA as in short supply. Forty-four of these are metals, 9 are chemical minerals and 18 are nonmetallic minerals. Of this list only 8 are produced in any large quantity in the United States, and all are vital in peace-time industry. Even more, they are absolutely essential for defense. This represents our present needs. But if our consumption and requirements are projected over the next 25 years as is done by the President's Materials Policy Commission-The Paley Report-our future outlook becomes appalling. The divergence of consumption over production, even allowing for substitution and conservation, will widen in the future. This means our dependence upon foreign raw materials, mainly minerals, will grow. What are the chief foreign sources of minerals for our future needs? They are chiefly Latin America and the dominions and colonies of the Western European nations. The British Commonwealth countries contain in abundance those minerals which the U. S. lacks. Of 32 of the most critical minerals the Commonwealth is deficient in 7 and lacks only 1; whereas the U. S. is deficient in 18. Strikingly, our deficient minerals are abundant in the Commonwealth and several of their deficiencies are in excess in the U. S. Resources of the two nations complement each other. If Europe should be overrun by an unfriendly power that could control the destinies and resources of the European dominions and colonies, our industrial life would be placed in severe jeopardy. Therefore, I heartily endorse Mr. Bancroft's statements regarding the Point IV program, provided the program is wisely administered and implemented. It is from the underdeveloped countries, as pointed out by Mr. Bancroft, that most of our future mineral supplies will have to come. Many of the underdeveloped source countries are African colonies and dominions of Western European nations. Our present aid to Europe, therefore, is not, as many infer, a purely one-sided affair; it safeguards our future industrial development and security. Development aid directly to the underdeveloped countries through a well administered Point IV program, can do much, I believe, to safeguard our prosperity. I regard it as a wise investment for future U. S. mineral needs. Dr. Alan M. Bateman Department of Geological Sciences Yale University Mr. Howland Bancroft's article, The Broadening Road to Foreign Investment, appeared on page 666 of the July MINING ENGINEERING.