Review of 1989 International Mineral Industry Activities

In 1989, worldwide total mineral industry activity registered advances from 1988. The advances may not have been as noteworthy as in 1988, but they can be regarded as a worthy theme for this article. The momentous political events throughout the centrally planned economy world had only a modest impact on actual 1989 industry performance. But these events have such potential for worldwide changes in economic activity in future years that they dwarf the actual happenings of 1989 in the minerals industry. Perhaps most significant factor here is the rapidity with which these changes have occurred. The end of World War II saw the almost immediate division of the world into major economic blocs. Since then, mineral industry activities and other industrial operations have been governed, to a considerable extent, by this partitioning. The developed market economy nations have operated as a group, the centrally planned economy states as another group. And these two groups essentially have vied for recognition in mineral industry operations in the developing economy states of Asia, Africa, and Latin America. The boundaries of these country blocs were fixed in the late 1940s and early 1950s. They were not markedly altered in the ensuing 40 years. We have seen the establishment of the Organization of Petroleum Exporting Countries, the continued Arab-Israeli confrontations in the Near East, the upheavals surrounding the rise of Moslem Fundamentalism in Iran, and the establishment of Soviet-oriented governments in Cuba and Nicaragua. These events have had notable effects on the world economy. But they have done little to change the pattern of market economy states functioning as a competitive bloc with the centrally-planned economy countries.