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Bureau of Mines / Minerals yearbook area reports: international 1968
Year 1968, Volume IV (1970)

Slatick, Eugene R.
Cyprus,   pp. 217-220 PDF (383.7 KB)


Page 217

  217The Mineral Industry of Cyprus 
By Eugene R. Slatick1 
 The mineral resources of Cyprus continued to hold an important place in
the country's economy in 1968. The mineral industry's contribution to the
gross domestic product (GDP) was estimated to approximate its share in 1967,
when it accounted for $27 million,2 or 6.4 percent, of a GDP of $419 million.8
In 1967, the mineral industry spent an estimated $21.4 million in Cyprus
for wages, taxes, rents, royalties, supplies and equipment; payments to the
Government totaled $743,000.~ In 1968, an estimated 5,000 persons were employed
in mining and quarrying operations; most worked above ground. 
 Mineral prospecting, mainly for copper and sulfur minerals, continued in
1968. At the beginning of the year, there were 76 prospecting permits covering
293 square kilometers, about the same as that a year previous.5 The Geological
Survey of Cyprus and the United Nations Special Fund, ex 
ploring together, found indications of new cuprous pyrite deposits north
of the Troodos Mountains. The economic potential of the discoveries is to
be determined. Most of the mining companies continued development and prospecting
programs. Cytechno, Ltd., a recently formed Cyprus company, reportedly established
the existence of new, economically exploitable reserves of asbestos and iron
pyrites. 
 1 Foreign mineral specialist (petroleum), Division of International Activities.
 2 Where necessary, values have been converted from Cyprus pounds (CL) to
U.S. dollars at the rate of CL1=US$2.80. In November 1967, the rate was changed
to CL 1=US$2.40; this change was not incorporated in the conversions in this
chapter. 
 ~ Report, 1967, Republic of Cyprus. Statistics and Research Department,
Ministry of Finance, Nicosia, 1968, p. 2. 
 Petropoulos, P. G. Annual Report of the Senior Mines Officer for the Year
1967. Nicosia, 1968, p. 3. 
~ 5 of work cited in footnote 4. 
PRODUCTION 
 The pattern of mineral output in Cyprus in 1968 was generally similar to
that in 1967. Output of both chromite and cement continued to increase at
a rapid rate. 
Copper production rose, reversing the downward trend that began in 1966.
Output of total gypsum dropped, but production of calcined gypsum rose sharply.
Output of bentonite more than doubled. 


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