Regional Mineral Industry Review Of North America

THE WORLDWIDE economic expansion that has characterized the first 3 years of the 1960's continued through 1964 and was reflected in North America by strength in the industrial economy of the United States, which again was dominant. Advances in production were recorded in virtually all industries, including the mineral industry; 1964 mineral production established a new high, 5.4 percent above the previous peak recorded in 1963. However, the percentage increase in value of North American mineral production was slightly below overall economic growth. For industry in general, consumer demand held firm throughout the year and overall commodity prices averaged 2 percent higher than in 1963. Wages and salary payments also were up. With the single exception of the dock strike in the United States, the year was free of serious labor troubles and unemployment in both Canada and the States was at a low level. Despite the Viet-Nam situation, relatively tranquil international relations contributed to the forward movement of North American business. Total gross national product (GNP) for Canada and United States, in current dollars, was estimated at US$672.2 billion; 6.8 percent above the previous year's figure. Combined national income in 1964 amounted to US$546.9 billion, which was nearly 7.0 percent more than in 1963. In 1964, gains were recorded in each of more than 50 metals, nonmetals, and fuels commodities that comprise the North American output. The greatest category increase was 13 percent in metals, which was in part attributable to the 14 percent rise to a new record in value of iron and steel in United States, a 29 percent higher value of Canadian iron ore and a 57 percent rise in Canadian zinc. Despite a moderate decline in prices of iron ore and iron and steel products, generally favorable markets and rising prices for metallic ores and metals were a stimulant to the metals industry. Nonmetallic materials, with a total value in excess of US$5.25 billion were 7.3 percent higher than in 1963. High levels of highway and building construction and expanding demand for fertilizers and chemicals continued throughout the year. Noteworthy output increases were recorded for lime,