ABSTRACT
Over the past few decades "informed" public expression has alternated between alarm over the depletion of the world supply of mineral resources and confidence that exploration and technology will inevitably provide either an adequate flow of specific minerals to meet demands or a means of substituting more abundant for less abundant materials. This cyclical behavior has been particularly evident in the case of copper. The pessimism of the early 1950s was followed by an expectation of unlimited abundance during the 1960s. This assessment shifted in the early 1970s when broad concern was expressed both for the depletion of world copper reserves and the ability of the developed countries to obtain essential supplies from developing countries at reasonable prices. We now appear to have returned to a world outlook for copper of long-term reserve abundance and short-term surplus of producing capacity. No doubt this will change, possibly before this manuscript goes to press.
