Stainless steel and aluminum have somewhat reduced the use of copper in the building industry. Printed 

 electrical circuits substitute for copper wire and plastic tubing replaces copper in some automotive and 

 appliance uses. 



Potential from marine sources. Copper is known to occur in significant amounts in manganese 

 nodules on the Blake Plateau and on the deep sea floor of the Pacific. If and when manganese nodules 

 are exploited, copper will no doubt be an important by-product. 



The possibility that lode copper deposits will be found in the continental shelves caimot be ruled out 

 once the exploration technology for locating such deposits becomes available. However, the possibility 

 of lode discoveries must be viewed as rather remote because no large copper deposits are known in 

 onshore coastal areas. 



GOLD 



Uses. Gold has an outstanding place in the world of metals because of its reflectivity, malleability, 

 high specific gravity, and resistance to corrosion. The principal use at the present time continues to be in 

 monetary systems or in coinage, but its use in other ways is growing. Considerable amounts are used in 

 jewelry and the decorative arts, including watch cases, rings, gold leaf, gilding, gold plating, and 

 decorative finishes on ceramics and other materials. The growth in these uses has paralleled the growth in 

 population and Gross National Product. Substantial amounts are employed in dentistry and lesser 

 amounts in the chemical industry and glass making. It is also being used increasingly in new scientific 

 devices and instrumentation. 



Present levels of utilization of gold in ounces. 



World (1966 production) 47.0 million 



United States (1966 demand; 



excludes monetary gold) 6.1 miUion 



Ranges of demand projections to the year 2000. 



Low 49.5 63.7 82.9 



High 49.7 65.2 86.0 



Prospective supplies and prices. The land resources are inadequate to supply the projected demands 

 for non-monetary gold for more than a few years at the present price and level of technology. The 

 official world price of gold remained at $35 per fine ounce from 1934 until very recently when an open 

 market for non-monetary gold was established. World production appears to have reached a peak in 

 1966 and it is expected to decline in coming years, partly as a result of constantly increasing production 

 costs, and partly because of depletion of reserves in the South African gold fields from which presently 

 come 75 per cent of the non-Communist world supphes. It is predicted that the South African source 

 will be largely depleted by about 1990. 



VII-135 



