PHLX Gold/Silver Sector (XAU)

[long-gone]

To:John Barendrecht who wrote (538)
From: mikesloan Tuesday, Jul 15, 1997 2:49 PM
Respond to of 82910

Check the gold chart. POG is $317.90 down $2.00

To:Alex who wrote (536)
From: Bobby Yellin Tuesday, Jul 15, 1997 3:01 PM
Respond to of 82910

wow...is Japan trapped into doing what the USA wants to do? with the dollar? yen? gold? because of its position...never even thought of this

To:Bobby Yellin who wrote (543)
From: mikesloan Tuesday, Jul 15, 1997 5:30 PM
Respond to of 82910

Study Shows Mining Generates $5.1 Billion for Oregon's Economy
SPOKANE, Wash.--(BUSINESS WIRE)--July 15, 1997--The mining industry had a combined
direct and indirect impact on the economy of Oregon of $5.1 billion in 1995, according to a new
study released today by the Western Economic Analysis Center, Marana, Arizona.

``The study, Everything Begins With Mining - Mining and the American Economy, shows that
mining has an importance in the economy disproportionate to its size,'' Laura Skaer, Executive
Director of the Spokane based Northwest Mining Association said.

``Mining literally takes a part of nature that has little or no economic value and creates something of
value from it. Much of Oregon's prosperity is due to an abundant supply of mineral resources,''
Skaer said. ``Mining clearly is one of the foundations of Oregon's economic growth. Without
mining there would be no Intel, no Precision Castparts, and no Tektronix.''

A major finding of the study is that people do not have to live in an obvious mining state or work
directly in the mining industry to benefit from mining. In fact, many residents, businesses and
governments in states with only small amounts of mining activity receive large economic gains from
mining in other states.

The study, conducted on behalf of the National Mining Association, for the first time, captures the
direct and indirect results in the economies of localities, states, regions and the Nation as mineral
resources and wealth circulates and recirculates.

According to the study's author, Dr. George F. Leaming, the Oregon mining industry had a direct
economic impact on the state of $387 million, including $105 million in income for other Oregon
businesses and $119 million in wages and salaries for the 2,900 men and women employed directly
by the industry.

The Oregon mining industry also paid $18.9 million in state and local taxes and another $21.1
million in federal taxes. The value of minerals mined in Oregon in 1995 totaled $391 million, the
study showed.

When the indirect economic impacts of mining in Oregon are considered, the industry accounted
for personal income of $1.4 billion for 53,500 mining-related jobs; business income of $2.7 billion;
state and local taxes of $276 million and $633 million in federal taxes.

Nationally, the domestic mining industry generated $48.4 billion directly to the U.S. economy in
1995. This total includes direct payments of $27 billion to American businesses; $14.5 billion in
personal income for Americans, including wages and salaries for the industry's 320,400 employees;
$3.5 billion in taxes and other revenues to the federal government; and $3.3 billion in taxes to state
and local governments.

As the industry's direct economic contributions circulate through the economy, the financial impacts
of mining are magnified. According to the study, mining's direct and indirect impact on the U.S.
economy in 1995 totaled $523.6 billion. This amount includes $295.7 billion in income for
businesses that support mining; $143.7 billion in personal income for the 5 million jobs supported
indirectly by mining; $56.9 billion in taxes and other revenue for the federal government; and $27.1
billion in state and local government taxes and revenues.

``To maintain the standard of living of its people and its place in the global economy, the nation will
continue to need minerals,'' Leaming said. ``Without mining, the ability of the U.S. economy to
meet the needs of its people and maintain its global position would be reduced severely. And so
would the abilities of 5 million Americans to meet their needs and those of their families.''

The Northwest Mining Association (NWMA) is a 103 year old, 2,900 member non-profit,
non-partisan trade association based in Spokane, Washington. NWMA's purpose is to support
and advance the mineral resource and related industries, to represent and inform members on
technical, legislative and regulatory issues, to provide for the dissemination of educational materials
related to mining, and to foster and promote economic opportunity and environmentally responsible
mining.

-0-
Northwest Mining Association
10 N. Post St., Suite 414
Spokane, WA 99201-0772
[phone]
Fax: [phone]

Contact:

Laura Skaer, 509/624-1158
Bob Webster, 202/463-2664
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