Nickel Deal

Among many blunt truths about U.S.

shortages of strategic materials contained in the Paley Report (TIME, June 30, 1952), none were more pessimistic than the facts about U.S. nickel supplies: U.S. production was almost nil, yet U.S. nickel requirements would be doubled by 1975. Last week brighter news about the U.S. nickel outlook came from Canada. Falconbridge Nickel Mines Ltd. began development of a new mine in northern Ontario on an estimated lode of 10 million tons of rich copper-nickel ore. A nine-year U.S. Government contract insures that practically all the mine's output will go to the U.S.

Falconbridge will deliver 100 million Ibs. of refined nickel to the U.S. by 1962, at a premium price of $1 a lb., 40-c- higher than the current market price. Canadian mining men call it "the biggest metal deal ever made in Canada."

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