The Bureau of Mines presents an economic evaluation of its leach- electrolysis process for recovering lead from galena concentrate. In this process, galena concentrate is leached at 200 deg. F with a ferric chloride-brine solution to extract lead while leaving sulfur in the residue, which is discarded. The solution after leaching is concentrated and cooled to 100 deg f by vacuum evaporation to crystallize lead chloride from which metallic lead and chlorine are produced by fused-salt electrolysis. Chlorine is used to regenerate the spent leach solution before it is recycled. A cost estimate was prepared for a plant capable of producing 300 tons per day of lead, 330 days per year. The fixed capital cost on a third-quarter 1977 basis is $27,500,000, and the estimated operating cost without a charge for the concentrate is 4.9 Cents per pound of lead product. Assuming a selling price for corroding-grade lead of 31 cents per pound and a charge for the concentrate of $332 per ton, the interest rate of return on investment after taxes is 16 percent. The leach- electrolysis process, therefore, appears to be economically attractive under the assumed market conditions.