Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1909-08-07
MINING, BUSINESS AND STOCKS.
UTAH COPPER MAKES
NEW HIGH RECORD ] 4

new !! HIGH u RE 1 Il!
Reduces Cost OF Milling. and Mining
And stripning Ore at Bingham, -
Putting In improvements.
Some mora new records have been
established by the Utah Copper CONF M
3panS, according to the report issued Tor f'r
thu second quarter by the company
The report covers the months Of April.
May and June. It shows an increase IN
the amount Of ore mined inilled and
snelted, slight reduction in the pro
sduction OF each pound Of copper, bet
ter saving In the cost Of stripping and
bringing the net profits Of the COM
pany up to within $1,000 Of the $500, 000-
mark. With proportionate increase
for the remaining half of the year, such
as there lis every reason to believe. as
the Copperton plant is being improved,
the company will make a profit Of 81
600 oGo for the year Il IN
The report which is issued by the ex-
ecutWe committee consisting OF g. M.
MacNeill, d. O., lacking and Spencer
Penrose, says in part:
During the entire period, both the
Garfield and Copperton plants were ops
ierated at practically their full capacity.
but the earnings predicted in our report
covering the first quarter We're not
realized, on account Of the copper con-
tents of the ore having been consider
ably lower for the first two months Of
the period than 1t was anticipated 1T
would be when the report covering the
first quarter was made The deficiency
in the grade of ore, as compared with
the previous q uarter, amounted to APP
proSimately four pounds of copper per
ton OF ore, but as the result of our llav-l
Ing rnilled q greater tonnage than in the
previous quarter, the gross o. put q
copper for the quarter was considerably
greater than that of the previous quar-
ter. Eg55ii
The ore treated during the lat ter part
OF the second quarter WAS of an inn
proved quality and the recovery at the
mills correspondingly better as COM
pared with the previous quarter, on ac-s
count of q decreased proportion of COP
per existing In oxidtzed form. The low
or headings resulted from the necessity
of moving a comparatively large block
of low grade ore that was encountered
In the extension of our lowest steam
shovel level. This particular block of
ground had not been thoroughly deyel-a
oped by underground workings and
when we came to remove tive found
a. great quantity of ore of a grade lower;
than we had reason to expect from the
IN other and inrmed lately surrounding
territory Towards the end of the q,1ar-S
ter the grade increased somewhat, but
the average OF the entire quarter was,
as above stated, about four pounds per
ton of ore lower than that for the
previous quarter. tFa ss 1874 1914
MAKES NEW RECORD.
The gross output Of copper contained
in concentrates produced and shipped
during the lnarter was is, I74,4125
poHh ds;; 1beingt create r than that of the
previous quarter by slightly less than
], 667 900 pounds, II
The net profit from mining and
milling operations for the
quarter amounted to ..... $$4T ,A25.12;
Additional income from rents a
and other incidental items,
Il amounted ia =. &. !. & II 4, 3s3.57
Total net profit for the quarter $4s2, 747,69.
4 The average price OF copper upon
which the above earnings we're based
was 1885 cents per pound, as compared
with 2.S2 cents, the price applying to
copper for the previous quarter.
Atthe end of the second quarter cop
per sales had been made covering all
copper metal due for delivery up to
the carly part of September. Notwith-s
standing the lower grade of ores han
died during the quarter the cost per
pound was slightly less than that APP
plying to the quarter previous, being
for the quarter under discussion 1892
cents per pound for the net copper pro-
d,Iced after deduction of smelter allow
ances. 5s s5:3s
Considering the results at the Ga,sfeld
plant by themselves. the cost per pound
of the copper produced was lower be-
ing forsthe, quarter sos cents. For the
month of June, the cost at the Garfield
plant alone was 7.91 cents per pound.
Tie costs at the Copperton plant are
uniformly higher than those at the Car!
field plant, on account of It's smaller
capacity Late in the month of June
some alterations We're undertaken at
Copperton that are still in progress,
which will bring this plant to a condt-
ton more nearly similar to that of the
Garfield plan as respects its efficiency.
DECREASE IN COST.
The per ton cost at both mine and
mill have been steadily decreased to
the end that the milling cost at Car
field for the month of June. Including
Its proper proportion Of all general and
fixed charges was 54.25c per ton. The
direct mining cost, including only the
expenses at the mine and applying to
all ore mined during the month of June.
was slightly In excess of 19cs per ton,
this average including both under
ground and steam shovel ore. The In
direct expense, including development
and the proper charge made against
each ton of steam shovel ore for the
retirement Of prepaid stripping fund,
amounted to slightly over Sc per ton,
bringing the total charges for mining
up to nearly Csc per ton. SO that. con-
sidering the operation of the Garfield
plant alone, the total cost of mining
and milling was less than SIC per ton,
this figure not including, Of course, the
transportation of ores The average
total cost of mining and milling at
both plants for June was less than SEC.
The relative percentages OF steam
shovel and underground ore for the
quarter under discussion were S3.3 per
cent of the former and 1861 per csat of
the latter.
The average monthly movement of
stripping fol- the quarter wax 1St, 140
cubic yards; the quality moved dur
ing the month of June WAS 151 800 cubic
yards. The average cost of stripping