The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-19
WORLD COPPER
RESERVES RISE
IN FEW YEARS
Sixteen MiIIion-T Gain Is
Reported Since 1891;
Chile Is First.
BIZ Times Special

NEW YORK, Oct. 19.-World
copper-ore reserves have risen by
1928, 200 tons. from an estimated
80, SAP 900 tons in February, 1881, to
a present estimated world total of
1880, 200 tons, according to the
Engineering and Mining Journal.
Chile, with 35;4e8, 500 tons; Africa,
with 22,395, 400 tons. and the United
States, with 20,992,7OO tons, retain
their respective positions on the list
of reserve countries, but with differ
ent tonnages, as on the 1881 COM
pilation, the publication states.
Europe, with 1O,851,O 900 tons, &C
counted for principally by the in
clusion of estimated Russian ton
nages, displaces Canada in the
fourth position.
Canada, credited with $500, 200
tons in the present estimate, ranks
fifth in the major reserve countries,
the balance of the world figure be-
ing made up of smaller quantities
led by Mexico with 100000 tons.
U. S. Holdings Largest
The copper metal reserves of the
United States are between 100000
and 100000 tons, of which 90
100000 are officially reported. Of
the total known world reserves the
United States owns about Sc per
cent. Including it's share in Roam
Antelope (Africa) and International
Nickel, it owns or has an interest in
about go per cent. The United
States and Great Britain together
own 83 per cent of the known cop
per ore reserves of the world. At
the rate of consumption during the
last ten years, it is estimated that
these known world reserves will last
sixty-f1ve years.
This figure is merely indicative
of the suff1ciency of reserves" the
journal adds, land it must not be
taken as a specific length of life,
because the reserves are not COM
pletely known and the rate of the
last ten years might be consider
ably increased. But one may assert
with perfect safety, however, that
no need exists for this generation
to worry about where it's copper is
coming from"
Russian Figures Conflicting
Reports on Russian copper-ore re-
serves vary somewhat depending
upon their sources, according to the
publication. Zone does not have to
accept the Soviet figures with COM
plete assurance, but on the other
hand, no estimate of world ore re-
serves can we'll ignore Russian pos
sibiitieS. Even if the tonnages were
accepted without reservation, the
time element in their exploitation
is another matter.
1.-THE tonnages need occasion no
concern, because if they are verified,
we know by much experience that
with money available on the scale
of the South American Or the
Rhodesian development, a decade or
decade and a half would be re-
quired to get into normal capacity
production Besides, a world de-
mand would be needed to encourage
such exploitation. Neither such de-
mand nor ample capital is at pres
ent available.
Settles Mine Controversy
Chile, not Rhodesia, is entitled
to claim possession of the worlds
largest copper mine. The current
trend in publicity is to overem-
phasize the Rhodesian coppers.
Katanga is repeatedly referred to
in the press as the worlds greatest
copper mine, which it is not.
The Chuquicamata, of the Chile
Exploitation Company is the worlds
premier copper mine. 1t has at
least a thousand million tons of ore
developed and more copper in its
known reserves than all Of Rho
desia."