The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-05-14
QUARTERLY REPORT
OF UTAH COPPER
Earnings Lacked Little of Be-
ing to Million Dollar Mark
Last Quarter.


per company for the first period Of 1910
has been issued. showing that the net
profits during the first three months from
mining and milling were SS5S, 1888, TO
which is added a profit from niscel-
laneous Income OF sI3. 175. giving a total
Of $S7l95S. The copper output during
the quarter was lS.5l1.Sl9 pounds, for
which the company received an average
price OF l3.33 cents per pound, the aver
age cost being Sd3 cents per pound.
The most interesting and significant
part OF The report is that dealing with the
alterations in the Arthur, or old Boston
Consolidated mill, The company is GO
ing TO Install the original Utah Copper
method of grinding the ores. so the
stamps Will be removed, The report In
part follows;
for the quarter was S.43 cents, as conf
pared 10 S.iS cents for the previous
quarter. The average cost per pound at
the Utah company's Garfield plant now
known as the Magma" plant, was con-
stdcrably lower, having been for the
month OF March 7.G cents, but the con-
siderable quantity of copper coming from
the Arthur plant. upon which the per
pound cost was greater resulted III rails
Ing the average cost TO the figure above
stated. The average cost OF copper re-
original mills approximated cents per
pound. The average cost OF milling FOR
the quarter was decreased as compared
TO that Of the previous quarter, but the
average cost of mining increased some
what on account OF the necessity of con-
tinuing for the time being the mining of
ore from the Boston Cousolidateds prop
critics by underground methods The ton
mage of ore mined In this way amounted
to II per cent of the total shipments as
compared TO per cent for the last quar-
ter Underground mining will be discon-
tinUed on Boston Consolidated ground, as
10 has previously been on Utah, as quick
ly as stripping can be sufficiently ad-
Vanccd to permit the full tonnage being
mined by steam shoVels. Stripping has
already been resumed Oh Boston Consoi-
dated ground, where il was discontinued
by the Boston Consolidated Mining COM
paDy some time ago.
At the time OF the acquisition OF the
Boston Consolidated property the dlrec-
tors announced decision 10 Increase the
OF the Arthur plant. and plans
are now being prepared to carry on this
work. In order that the best and most
economical methods might be applied IN
the reconstruction OF this plant and its
engineers was engaged TO examine and
report upon the relative merits OF the
system of milling used in the Magma
plant and that of the Arthur plant, anG
capacity Of the latter. Their findings
show decisive advantage. both as TO
costs and, recoveries, In the methods
heretofore and now employed in the Mag
na plant. and furthermore, that by
in the Arthur plant similar ap
oliances and methods its capacity can
De more than doubled without extending
he present buildings otherwise than TO
provide storage bins for ore reserves pro- |
oortionate to the increased capacity.
This report fully confirms the pre-
iiouS determinations and reports Of our
,wn engineers. and work has been COM |
ncnccd upon the remodeling Of the Ar
hur plant, both as TO machinery and
method
In the statement OF ore reserves ap
,earins in the annual report just is
sued for the year 1909 no account was |
properties. because those
properties were not acquired until after |
he close of the fiscal year, In that re-
bort ore reserves in developed and par,
Ilone were stated TO amount TO 100000
100 tons. The Boston Consolidated prop
rites contain similarly developed ore TO
he amount Of 10000 600 tons. In addi-
ion 10 these tonnsges there Is the some
What lower grade tonnage referred TO
II the last three annual reports. esti
mated at o,o0o,oOo tons: This addi-
ional tonnage lies entirely below our
resent main working levels and Is only
'artially developed by a limited num-
'er of WINES and diamond drill holes,
presence Of the tonnage stated. OF a
opper content sufficient to make II
profitable even under eX-
sting operating conditions AS mat
|
onnage Is Of practically the same grade
S that upon which our operations have
een exclusively conducted for tho last
iN months.
Summing up the entire ore reserves
/ both properties. the total as detailed
bove amounts 10 10. 600 600 tons. all
{ which is Of grade equal to that
pom which we are now operating, and
large percentage Of 1t is OF much
etter grade.
In considering the above stated ton
Ia ,.- h,o ,,1,s fl,.t h1tI
he Utah and Boston properties still have
ndeveloped large areas known 10 con-
ain. both laterally and In depth, ore
odies similar in character to those al
eady developed; but. without consider
ne such areas. the ones which arc fully
nd partially developed as stated would
I the present rate OF production en-
BILE the plants as today existing to op-
rate for period of forty years. and
{ the increased capacity which will fol-
Nv the improvements now under way
nd which Will within a year from the
resent time. be applied. the life of the
resent ore reserves of the company
'ould be about thirty years