The United States Geological Survey reported a US$57.1 billion drop in the value of raw, nonfuel minerals mined in the United States in 2009. The value of raw minerals domestically processed and refined totaled US$454 billion in 2009, a 25 percent decline from that of 2008.
U.S. dependence on foreign sources for minerals also increased in 2009, continuing a trend that has been evident for more than 30 years. The United States relied on foreign sources to supply more than 50 percent of domestic consumption of 38 mineral commodities in 2009, and relied on imports for 100 percent of 19 of those minerals.
Minerals are a fundamental component of the U.S. economy. Final products, such as cars and houses, produced by major U.S. industries using mineral materials made up about 13 percent (more than US $1.9 trillion) of the 2009 gross domestic product.
The U.S. Geological Survey recently released the Mineral Commodity Summaries 2010, an annual report that addresses events, trends, and issues in the domestic and international mineral industries and includes statistics on about 90 mineral commodities. The report is used by public and private sector analysts regarding planning and decision making for government and business.
“Over the last year, there has been reduced production of almost every mineral commodity and lower prices for most metals,” said USGS Mineral Resources Program Coordinator Kathleen Johnson. “This report allows for timely research and analysis of our nation’s minerals sector.”
A decline in the U.S. housing market during 2009 caused reductions in the production and consumption of construction materials. Declines in automobile and durable goods manufacturing resulted in reduced production and consumption of metals including copper, iron, steel, lead, and platinum-group metals.
Gold was one notable exception to the downward trend in metal prices, reaching an all-time high of US$1,215.21 per troy ounce in early December 2009. Iron ore was among minerals that experienced the largest declines, decreasing by nearly 50 percent in production quantity and value over the past year.
