Word: fluorspar
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Rebuilding the stockpile, however, is likely to run into some serious foreign policy complications. The U.S. has become dependent on the countries of southern Africa for seven key materials (platinum metals, manganese, chromium, cobalt, industrial diamonds, fluorspar and antimony). The U.S. gets 53% of its platinum from white-ruled South Africa, for example, and 42% of its cobalt from black-run Zaire. A pronounced policy tilt toward either country could antagonize the other and thus endanger supplies...
...results. Government-aided surveys turned up fabulous deposits of iron ore in Newfoundland's mainland territory of Labrador; one is now being mined, the other is scheduled to go into production in the 1960s. In Newfoundland and Labrador, surveyors uncovered promising finds of copper, lead and zinc, asbestos, fluorspar, gypsum and uranium. Perhaps even more significant was the exploration of sites on Labrador's Hamilton River that could develop as much hydroelectric power as Grand Coulee and Hoover Dam combined. Next step: to develop a market for this untapped storehouse of kilowatts...
...Arkansas, instead chose a 21% higher bid from Philadelphia's Baldwin-Lima-Hamilton Corp., thus giving some political help to Republican Congressman Hugh Scott (TIME, Feb. 2). Last week the coalmen demanded still tougher controls on imports of residual fuel oils, arguing "national defense." Lobbyists for cobalt, fluorspar, tungsten (which are already heavily stockpiled) and such debatable defense needs as dental burs and wool knit gloves are also clamoring for OCDM to squeeze off imports...
After kicking around Congress for weeks, the Administration's metals subsidy plan (TIME, May 19) finally died last week at the hands of the House of Representatives. Originally put forward to bolster prices in five depressed industries (copper, lead, zinc, tungsten, fluorspar) -and incidentally win support for the President's reciprocal trade program from mining-state Congressmen-the $458 million support program ran into rough going after passing the Senate. Chief reason: many Congressmen felt that the bill would aid mainly those big international producers who are making money anyway and are doing most of the importing that...
MINING SUBSIDIES of $155 million for depressed copper, lead, zinc, tungsten and fluorspar (TIME, May 19) passed Senate by such a high margin (70-12) that bill stands good chance of riding through House and becoming law this summer...