Word: zinc
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...think that's something that we can't ever hope to achieve and I don't see any reason for it. We can't become self-sufficient in zinc, or molybdenum, or bauxite or oil. But we can have an adequate assured supply from overseas, and an adequate reserve supply in this country, an adequate conservation program so that we don't waste fuel any further. And we must make a shift toward coal, whose quantity is almost unlimited...
...night in January 1975, the zinc-laden freighter Lake Illawarra plowed into the Tasman Bridge, killing twelve motorists and crewmen and severing the main link between Hobart, the capital of Australia's island state of Tasmania, and its eastern suburbs. Next morning, as some 30,000 suburbanites set out for work, they found that the former three-minute commute over the bridge had turned into a pilgrimage of an hour and a half at rush hours, requiring a detour of 33 miles...
...London commodity markets, which determine prices for many international transactions, are somewhat overstated since they are expressed in sterling and the pound has been sinking sharply in value. Even so, they are worrisome. Some examples: the sterling price of copper wire bars has jumped 83% above its 1975 low, zinc 44%, nickel 61%, tin 53%, cocoa 161%. In the U.S., soybean futures prices rose 13 cents, to $7.20 a bushel, last week on the strength of rumors of possible large sales to the Soviet Union and China. A recent Common Market economic report notes that the rise in spot commodity...
...Europe and Japan, which is pumping up factory demand for raw materials. There are also early signs that speculators seeking to make a killing are magnifying the increases. Two months ago, the London Metal Exchange signaled concern about speculation by calling for a voluntary freeze on all purchases of zinc by nonindustrial buyers...
...longer run, the country's economic prospects are brighter. International arms of Texaco oil and Kennecott mining, among others, have shown interest in developing the country's rich but largely unexploited natural resources (oil, gas, zinc, gold, silver). Somare hopes to tap other sources in Australia, Japan, Britain, West Germany and the U.S. for additional development capital. Although they now have their independence, the people of Papua New Guinea are not likely to be liberated of their liking for that Western cargo...