Word: mesabi
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Dates: during 1950-1959
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...instinct for projecting trends-political as well as economic-into the future. "In extraction industries," he says, "you have to look ahead or you will find that you have got everything out of the ground that is to be had-and you're out of business." The rich Mesabi iron-ore lode in Minnesota is wearing thin as the nation's (and Hanna's) prime ore source. Twenty years ago Hanna proved the big ore field which Bethlehem Steel is now operating in Venezuela. ("We didn't develop it," says Humphrey, "because there were political difficulties...
Erie Mining is owned by Bethlehem Steel and Youngstown Sheet & Tube Co., and the U.S. will soon hear a lot more about taconite, an iron-bearing rock which spreads over much of Minnesota's Mesabi and adjoining ranges. Though Mesabi's rich ore is rapidly being exhausted, there is a vast supply of the inferior (about 30% iron) taconite ore. Big steel producers are now committed to spend $1 billion within the next six years building plants to turn taconite into usable iron...
...bulk of these tolls will come from American steel companies, shipping iron ore from Labrador to inland American mills. Since the Mesabi iron deposits are running out while the United States' need for steel climbs, the Labrador deposits are becoming more important. The railroad and port lobbies, of course, believe that steel producers--if they need Labrador ore--shall pay for shipping it, rather than charge this cost up to the American tax-payer...
...Soviet Union and China) throbs with industrial action. In bleak Ungava, where only the rashest prospector ever ventured a decade ago, a new railway is thrusting through the wilderness to tap an iron-ore lode larger than the state of Connecticut, and perhaps as rich as the famed Mesabi Range in northern Minnesota. Above an Indian village named Kitimat, in the stony heights of British Columbia, engineers are damming half a dozen mountain lakes, creating a waterfall 15 times as high as Niagara, to power the world's biggest aluminum plant. In Northwestern Ontario, engineers are draining...
...such minerals as iron, copper and lead far faster than anyone had anticipated only a few years ago. In many ways the U.S., once the owner of seeming inexhaustible natural treasures, was in danger of becoming a have-not nation. The end of the fabulously rich ores of the Mesabi Range was already in sight. Steelmakers not only began shipping in ore from South America and Liberia, but in 1951 they began operating plants to make the poor-grade taconite ore usable. Copper became so scarce that some metal producers talked of a permanent copper shortage (and saw aluminum taking...