The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-06-12
WHAT MINING COSTS
Cleveland Cliffs Company Must Elk.
pend Million in Opening the
Mass at Negaunee.
The Shaft Must Yet Be Sunk Six
Hundred Feet to the Ore
Body.
Special to The Journal.

Special to The Journal .-y
Duluth, Mimi, June 12-Commenelhs IN
February 1902, the Cleveland Cliffs Iron com
pany has been sinking a shaft at IT'S no" Ia
Mas property at Negaunee. ans shaie
has presented obstacles heretofore unhnoWh 10
mine managers, and 1t has now reached ledge,
100 feet down, and is securely bottomed. with
the shaft at last fixed. the work OF sinking
thru ledge to the body will commence. and,
as the distance Is still 6uo rect, TINS VIII TAKE
year or so more
by drill operations, and it is known that large
mine will result there, in all probability one of
the best in the Negaunee area. In sinking this
shaft to its present depth more than 100000
gallons of water and quicksand have been
pumped out. The mine, when at last opened,
will represent an Investment of more than
81. 900, 900. .
The United States Steel Corporation pur
chased the lease of the Casca mine, Mesaba
range. paying S125,Ooo. The fee will
get about 81 900 more in royalties on the
discovered during the the life of the mine
The best opinion is that shipments OF iron
ore for the year. TO American furnaces. VIII
not equal those of 1902 This is largely due to
the fact that more ore was sent forward than
was required, in the attempt to get supplies
ahead at the low prices prevailing, and that
now, prices being higher, no continuation or such
effort will be made. The amount of ore to be
melted during the year to next May is every
where conceded TO be greater than during the
year closing with May, 1908. There Is a lack
of demand now from furnace interests for the
high-grade bessemer ores, and on active buying
TO the increase in capacity of open hearth
plants, but very much more to the relatively
excessive price put on bessemer ores as com
pared with excellent non-bessemers- The bet
ter non bessemer now going into fur
naces everywhere. mixed with little low phos-
phorus iron, and the product Is strictly bes-
sener pig iron. at lower cost than II Dessemer
ore mixtures were bought.
Profit in Present Rates.
The United States Steel Corporation has sue
ceeded in forcing the price of lake tonnage down
cents ton, to so cents gross ton. Duluth to
Ohio ports. There Is too much steamship ton
mage the lakes for the business Of the year,
and these rates are the natural consequence:
But at so cents a good. modern. well-equ1pped
vessel handled quickly at docks and run ecOnom-
ically, can make a profit that Is not to he
laughed at, and more contracts are being closed
by shipbuilders to NIKE vessels for men who are
no children in the business and who have spent
their lives in lake trade. One large contract
was closed this week. and others are now pend
ing.
These builders must see a future for good
tonnage, with better returns than and per
cent on their investments. New boats and
quicker dispatch at lower lake docks are making
an actual difference this year over last Of about
5000 000 tons Of capacity for the average sea-
son, and the fact that there is no such increase
in stuff to be moved if there is any, Is respon-
sible for the diminished rate
Nanainno and Beta mines, idle for the past
twenty years have been Optioned and machn
cry has been installed for unwatering them. The
steel corporation is probably interested in the
is an excellent opportunity for making good
mine.
The biggest diamond drill operation ever done
in the Lake Superior country. with perhaps one
exception. is now under way at the property of
the Section Thirty company, on the yermillion
range, where five large and powerful drills are
working. Some of the holes going very
deep.
Mining at North Freedom.
Options that have been held for year by the
Deering Harvester company on 400 acres Of iror
land in North Freedom, Wis. have been closed
and $40. 900 advance royalties have been pait
the fee holders. The Deering company has
shaft down and will sink to 400 feet. Their.
two million to three million tons Of ore ex
plored. and probably much to be shown
The deposit Is not believed to be a part Of
large and extensive mineral range. but to b.
largely local, though several other explorin.
syndicates are finding in considerable guam
tity. ....
This has been mined for years by the Nil
waukee road deposit of lean ore for minera
paint making. Any good ore that might hav
existed there in the past supposed to hav
been mined out and exhausted. until W. G
years ago. 1t Is on land owned by LaRue an
associates that the Deerng company has it
mine
A sale has been closed to mining interest
operating under cover far. of the Grea
Northern road, of a state tract near Hibbine
Mesaba range, containing so far as explore
about 100000 tons. A price of $4,000 wa
paid for the lease, besides which there is
Is cents goes to the Minnesota public schot
fund and the rest to the original lessees
Will not be opened for mining for some tim,
Few sales of developed explored Mesaba bro,
critics are now taking place, for the simple re,
son that there are few to be mad. Many deve
opments are under way. but they are either ne
far enough along for sale or they have not enoue
ore to make them mines.