Report of Council: For the Year Ended December 31st, 1948

To the Membership of the Institute Gentlemen: The Mineral Industry of Canada in 1948 The preliminary estimate issued by the Dominion Bureau of Statistics and tabulated in the Bulletin of January, 1949, indicated that the value of Canada's mineral production in 1948 reached an all-time high of $808,180,216, showing an increase of 25 per cent over the previous record of $644,696,007 established in the preceding year. The output value of metallics was increased by 22.4 per cent; of fuels, by 43.7 percent of other non-metallics, by 19 per 'cent; and of structural materials, by 16.8 per cent. The value of metals produced in 1948 at $483,770,759, was about $87,000,000 more than in the previous year. There were substantial increases in the tonnages of copper, lead zinc nickel, and other base metals produced, but the rises in market prices for such metals accounted for most of the gains in output values. Production of gold at 3,495,403 ounces valued at $122,339,105 indicated an increase in volume of approximately 500,000 ounces and an increase in value of 14 per cent. Despite the benefits provided under the Emergency Gold Mining Assistance Act 1948 the volume of gold produced in the year was still nearly 2,000,000 ounces less than the record of 5,300,000 ounces established in 1941. The value of mineral fuels produced in 1948, at $158,787,255, was 44 per cent above the 1947 total. Coal production at 18,431,250 tons valued at $107,298,757, while substantially higher than in the preceding year was still half a million tons below the record reached in 1942. Striking developments in the Leduc field in Alberta were responsible for bringing the output of crude petroleum in the year to a new high of 12,098,166 barrels, valued at $36,858,959.