Metal Snips (October 30, 1989)

By extrapolating those data, the institute reckons total U.S. investment in gold mining during the 7-year period was about $5.7 billion.

The American Eagle gold bullion coin has been using 25% of the newly mined gold in the U.S. annually, says an official with the U.S. Mint. Current sales of the Eagle coin are down compared with those of 1986 when it was introduced.

A tungsten metal powder and tungsten carbide powder plant is under construction in Ramat Hovav, Israel, the plant to produce (mostly for export) at a rate of 300 tonnes per year for the first three years and double that capacity thereafter. The U.S. Bureau of Mines also reports China accounted for 64% of all forms of tungsten materials imported into the U.S. during the first half of 1989, compared with 48% for the same period in 1988.

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