The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-04-27
Annual Report Shows 1t to
Be Most Extensive Prop
erty Of Kind in the
World.
FIGURES SUBMITTED
REGARDING EXPENSE
More Than Two Hundred
Million Tons of Ore
Are Said to Be
Assured.

. The report of the Utah Copper com
pany for the fiscal year ending De
cember 81. 1910, was released on We'd
nesday for publication this morning,
in which is contained minute details
of the affairs of the company, as e1-
pected. The report shows. from the
standpoint of ore tonnage now avail
able, and from the past costs Of
production, that the Utah Copper Of
Bingham is not only the largest copper
mine in the world, but its tonnage is
equal TO, if not in excess of, the en-
tire combined ore tonnage of the
porphyry copper mines of the world,
while few companies doing a strict
mining business can produce at lower
cost.
The report is splendidly arranged,
containing maps of the property. under
ground sections and photographs Of the
work at Bingham by which mountains
are being shifted from one foundation
TO another in search OF the red metal
ores.
President MacNeill, under date of
April |, shows briefly the following
conditions:
Copper produced during the year,
S5,644,5l1 pounds net, OF which S4,502,-
trating ores. and 1.142,036 pounds from
the sulphide mine, which was operated
only a portion of the year.
Net Production Cost.
Net cost of production per pound
was s.069 cents, against 87s7 cents
during the previous year. The average
price received for the copper was
1882 cents per pound, against 1875
cents the previous year.
Net profits for the wear were $5.4O1,-
1898. OF this. s3.S90,9l was the
return from operating the Utah plants
After the payment of the dividends,
q few outstanding bonds, $lS7.50 there
remained balance of S752.9l2.23.
which was passed to the undivided
profit column. On December 81, last,
the undivided profits amounted to So
696, ,53a.o6. This amount has no
bearing whatever on the s6,0S3, $50
shown as the surplus. The surplus ac-
count is the amount received in cash
from the sale of stock in excess of the
par value thereof
On December 81. 1909, the issued
capital stock was 734,375 shares. On
December 81, 1910, the total issued
was 1862 500 shares, and the total
authorized stock is 100000 shares.
The company holds 1,000.500 shares of
the Nevada Consolidated Copper com
pany.
General Manager Jackling's report
shows;
Total lands owned in Bingham. Gar
field and Utah county. 54I2 acres. On
the original Utah property during the
year, 1880 feet of development work
was done, which brings the total to
ISL ,34l feet Previous TO 1910 the
work on the old Boston Consolidated
group consisted of l09,s76 feet, and
during the past year this total was
brought up 10 155,443 feet.
Churn drills were employed on both
properties throughout the year in the
more thorough development of the re-
sixteen holes being driven the
total number of 5000 feet Previous to
1910 seven holes had been drilled by
drills a total of 5000 feet,
and four churn drill holes sent to
total Of drill holes of 10.0l5 feet.
Cost of underground development
was 7,02 cents per ton on all ores
mined and shipped 10 the mills. The
area of fully and partially developed
ground now consists of 166.15 acres.
The average thickness of the ores here
developed is 345 feet.
Enormous Known Tonnage
After deducting all ores mined up
to January !, 1911, there remains ia
the area IN which the main amount OF
work has been done. 203 100000 tons
Of fully and partially developed ores,
The report then continues as follows:
"Of this amount l52, 900 tons are
fully developed and blocked. The
stated tonnage of developed and par
tally developed ore includes 22,325,-
300 tons of partially developed ore
in the slopes calculated TO apply to
steam shovel workings, but outside Of
The ore area Of l66.l5 acres previously
described In calculating ore tonnage.
l3 cubic feet of ore in place is taken
rs one ton.
''Of the fully developed ore, 60,0oo,-
roo tons have m average copper con-
.ent of . per cent, and the remaining
-, l3O 900 tons of ore fully developed
contains 10 per cent copper, Tho
average assay of the partially de-
yeloped ore is Ia per cent copper. The
entire 203 100000 tons of developed
md PARTIAL. developed ore contains an
lverage Of 1.67 per cent copper,
"'In obtaining these averages of cop
,er percentnges there have been used
he samples from o25.722 feet of drifts.
.aises, wines and drill holes, the total
number of samples taken being 21,1S5.
IS check against the average per-
,entages of copper stated. il is inter
sting to note that the average assay