The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-04-27
Annual Report of Utah Copper
Company Succeeds in Get
ting This Far.
FINANCIAL END Is
ALREADY KNOWN HERE
Details of Mine Operations Full
of Interest to All Stock
holders.

reaching western stockholders. AS
usual, the report is beautifully Illus
trated with views of the company s
steam shovel work, and contains maps
which will he OF much interest and
assistance to stockholders generally.
The financial end of the report has
been handled both at nome and in the
east. and nothing remains TO be said
on that score. But there arc some of
the details of mine and mill work
which will prove interesting. and they
are here reproduced as follows:
In the report for the year enGing
June 81 1907. the sta aLement was made
that tine developed and partially devel-
oped area amounted to seventy-two
acres. Developments since have resulted
in extending this area about eight
acres so that now the known ore area,
fully and partially. oevelope |, is ap.
lroAimately eighty acres. The ole
thichnesses and values of this addition
similar to those described in The for
mer part. so that the new develop
ments have resulted in additional ore
reserves to the extent of about
100000 tons, or at raie during the
period of over three tines the late at
which ores were extracted for reduc
tion. The net result OF the develop
ments we have made during the period
has been that fully developed ore re-
mains approximately as stated in our
last annual report, viz, 20,000000 TONS
as the area Of this class of ore has
been increased to an c.zlen5 THAI will
more than offset the quantity Of ore
mined.
The two classes OF partially devel-
oped ore, described in the former re.
port, have been increased in the aggrc
gate to the extent of approximately
S,000,000 tons, as above stated, so tbat
we now estimate 60,000,000 tons in
these two classes of reserves. In other
veloped and reasonably assured ore, the
total amounts to about S0,000,000 tons,
Of this total tonnage, 6J,000,00) tons
can be clnSsed as of the better or ror-
NAL grade. averaging about 2 per cent
copper, and 15,000,000 tons as Of the
lower grade, approximating II per
cent copper. In addition to this, we
have the lower zone, as described in
the previous annual report, the average
value of which has been Indicated TO
only limited extent by diamond dNil.
ing. but which is estimated to contain
a minimum of 10000, 900 tons that will
average 11s per cent. In dis.
cussing the above quantities throughout
consideration should be given to the
fact chat the stated hgGrcs include the
quantities Of ore mined Turing rbe fs-
cal period. This would amount. in per.
centage, to approximately per cent
of the above described three classes of
ore aggregating S0,000,000 tous le-
serves,
All the development done during che
period has been on the easterly end of
the property and on both sides Of the
canyon, but the larger part of it has
been on the south side of the conyon.
in the southeasterly portion of the com
pany' territory. The rc-bcaring area
is still being extended in that direc-
tion
Of the total ore mined during the 6s
cal period, 33-2 per cent came from
underground and 66.s per cent from
steam shovels. During the st SIX
months of the period, the percentages
were 80. 6 per cent from underground,
and 60-4 per cent from shoveiS, Dur.
Ing the following six months. The per
centages were &c. and 90 4. respec-
lively. During the six month";, ending
December 81. 1908, the percentages
were 2S.7 and 71.3. During tic last
three months of 1908, the Percentages
of underground and steam shovel Gre
were % per cent and 75 per cent. re-
speetlvely. These figures are given to
indicate the gradual decrease of under
ground mining; or, more properly. the
steady increase in the quantity Of ore
mined by steam shovcls.
The increase IN the volume of ore
mined by steam snovels is reflected di-
rectly in corresponding decrease IN
our mining costs The Average cost of
both steam shovels and underground
ore for the first six months period
above described was 43 cents, for tbe
second period, it was 35 cents; FOR the
third period, 80 cents. The average
costs stated cover, respectively, the to
tai COSTS OF every nature at the mine.
including development, as we'll as the!
proper proportions Of all general and
hxed charges, such az Office expenses
taxes and insurance. The average costs
for the entire period. as applying TO the
two different methods of mining, were
oo12 cents per ton for all ore mined
underground and 1917 cents per ton
FOR all ore mined by steam shovel
saving. in favor of the steam shovel
method Of Al cents per ton
Ihe average price applying to our
sales OF copper for the entire period
was ~ cents The average cost per
l, pound w was $50 cents, this being based
upon the net pounds of copper result
ing after smelter deductions and allow
lmces werc provided for, and including
all expenses Of transportation, refinine
and disposition Of the metal
a number of references have been
made IN this report to the difficulty we
nave experienced in securing adequate
transportation facilities. as provided
for under our contract with the Rio
,'randc Western Railway companv Onr
losses, and the disadvantages under
which We have operated, as result of
inc failure on its part to give us the
ueslred ana necessary service, have
been, greater than would be indicated
by the direct deficiency in tonnage that
we desired to mine and mill, but which
me railway company was not prepared
10 transport, for the reason thai t6e
toonnages that have been delivered to
the mills have been handled at dis,
advantage and at an extra cost. We
nave used every effort to induce the
railway people. to give us better serv.
-lcei but. so far, without very mncb
encouraging, result, and we have, there.
lore, located and surveyed a line for a
railroad of our own between the mines
and mills This lnca1,oo ;c .Ln,,.., -