White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1914-03-29

OWHtIs Di tIdIIuo tVAfHIIs-
ing It. But the options had always
lapsed because mining capitalists
would not take them over. In 1911
such options were held by Albert c.
Burrage of Boston, a mine operator
who had tin and other interests In
South America.
Mr.. Burrage went to New York
one day, and called on the Guggen-
helms in their Offices at 165 Broad
way. The six G~uggenheim brothers
and their associates make up the
greatest group of mining capitalists
in America. Somebody has estimated
that II the Guggenheim family wealth
we're put in a Jackpot there would
be about $500, 900 900 of 1t.
81 should like to sell the options
said Mr.. Burrage, "or make some ar
rangement by which these ore lands
can be financed and worked"
we we're offered those lands ten
years ago." returned Daniel Guggen-
helm. 1--WE SEN Jul engineers down
their to examine the deposit, and
they reported the project unfeasible.'
Send Yeatman down there sug-
gested Burrage.
Pope Yeatman vas a mining en-
gineer who stood very high in the
service of the Guggenheim groups OF
corporations. He was a graduate OF
that great school for American min
ing engineers, South Africa, and in
1906 had succeeded to the position
held by John Hays Hammond-that
of consulting engineer Il the Guggen-
helm interests.
Incidentally. Mr.. Yeatman re-
sembled physically the late King
Edward VII of England. Mentally
he possessed a peculiar trait fol
~grasping big possibilities and turn
ing them into realities. He had a
reputation for putting things
through.
So, on a chance that there might
he possibilities down in those long.
refused ores In Chile, Yeatman and
his assistant engineers were sent
down there. The ore lay in the
vicinity of Chiquicamata, in the
province of Antofagasta. a grand and
terrible country up there in the
mountains, without vegetation. and
with rainfall about once in fifteen
year. An examination was made and
about the same situation discover
ed that had beer reported many times
by other engineers. The l~ow-grade
ore was there, but stupendous
difficulties lay in the way of working
it profitably. Yeatman believed the
difficulties could be overcome, al
though to do so would necessitate
tackling the job from new engineer
ing angles.
Daniel G~uggenheim was in Europe.
Yeatman took the quickest route
from Chile to London, met Guggen-
helm and Burrage, and reported
f%avorably on the gigantic project OF
developing this property.
This is the genesis-told here fol
the first time in print-of what has
become the greatest copper property
in the world. Enough churn-drilling
has been done to assure more than
200. 600, 900 tons of more than two
per cent copper. with bigger things
possible. The net profit in sight
extending over perhaps fifty years to
come-is at least $3.50. 000, 200. Dur
ing that time $500, O00. 900 will be
expended. about half of which will
go to the people of Chile.
This was made possible by bold As.
sumption of responsibility, big con-
structive engineering, and the work
ing out of new ideas. The ore will be
treated by teaching instead of by
smelling, and there will be six acid
proof concrete tanks of ten thousand
tons capacity each. A plant railroad
has been built, and a power-house on
the shore of the ocean, with a trans
mission of eighty-six miles. A twelve
inch steel pipe will carry water forty
miles. Two town sites have been laid
out.
But perhaps enough has been said
to indicate why Pope Yeatman is in
the class of men who draw salaries OF
100000 or more a year.