Problems and Procedure in Acquiring Foreign Mineral Properties

ALTHOUGH the United States has long led all other countries in both the production and consumption of mineral products, the trend seems definitely toward an increasing dependence upon foreign sources of supply. This is not to take the position that we are either a have or a have-not nation. For years we shall continue to secure a large proportion of our needed minerals: from our own mines, but we must face the fact that this century has seen "a more thorough and intense development of the mineral resources of the United States and a greater depletion of its irreplaceable mineral reserves than has occurred in most other countries. An audit of our mineral production given in the attached charts discloses the extent of our deficiencies. Because of these facts, low-cost foreign sources offer a promising field for the investment of a portion of our mining capital and an opportunity to obtain for the United States a greater supply of strategic metals and minerals. How. ever, to reach this end, the industrialist investing in the foreign field must have the full co-operation and strong backing of the Federal Government and the involved Federal agencies.