| Show I Utah Copper Holds Leadership of Porphyry Producers Makes N New e Record of Low Lov Cost Copper When Working V Portion of Ground Originally Deemed Too roo Low Lov Grade Grale to Even for Porphyry No more moie evidence I the low grade porphyry copper pro producers producers have come to 10 sty could bo be presented than Is the showing that for forthe the tho three September 30 the cost ot of producing copper opper nt t the Garfield plant ot of the corn com pany was only cents a pound while the average cost ot of the en entre entire tre tire production Including that from Is Its Copperton mi mill was a very small fraction above 8 cents a pound This tle tile tact fact that stripping oper have hac not ot yet progressed fr fir enough t that nt au average grade ot of clen clenore clean cleanore ore Is available Utah COf Coper er was the pIoneer In the Work ork ot of commercializing the great do de deposits posits of at low grede grade l which long were regarded of at no value When D C now general manager ot of the the Utah Copper company then a youthful to suggest that the low grade deposits of Bingham mIght be worked nt at a the Idea wa was scoffed at when he that they could be worked and m treated so cheaply as to tomake tomake make a new low record ot of cost for I copper Production ho he was regarded i by many as almoSt a dangerous en enthusiast enthusiast And yet Ut Utah h Copper has Ims fulfilled every promise made for every ry between promise and fulfillment being upon the side ot of conservatism Is Its performances have so thoroughly educated the min minIng mm Ing world upon the tho subject ot of copper that the Industry has been placed In the class ot or as to safety of Investment and certainty certainty ot of Mountains before regarded worthless have by Is its work been transformed Into storehouses ot of wealth computed by the hundred mi mU lon lion I It hUB bus made Bingham one ot of th the thet t greatest copper producing camps ot of I the world and has directed attention to the possibilities of districts having 1 like a as EI Ely Nev Ray Bay an Globe Ariz and Chino N M Reduces Hazard to Minimum Utah Copper had to work out its Is destiny In an field Others which lave have followed I It have had the benefit of oC Is Its experience reducing hazard to the minimum The men who backed Utah Copper had to tale take long chances Initial expenditures ot of some milons millions were required before I feasibility of the project could be dem absolutely for operations must be upon a large scale to be profitable The building first ot of a ton mi mill was required to aser ascer tain tam the results tat that might be ob tined tamed from working upon a moderately moderately large scale scle I it was found that real economy ot of operations could not be obtained without multiplying that production many times Then was planned the Garfield ml mill ot of from to tons daly daily capacity I It was In some ore measure a leap In the dark but It was a step which had to be betaken betaken taken If success was to be achieved The Garfield ml mill was buit built to treat ton ot of ore are a da day and I it has hasan hasan an actual capacity of tons a day And the mill has been a success In ml every the company has been given railroad facilities to do de delver doliver lver liver at the mil mill the tonnage of ore required That was one ot of the draw drawbacks drawbacks backs encountered In te the early opera operations tons The men behind the railroad evidently failed to take the Utah Cop Copper Copper per company seriously when It said It wanted facilities for transporting tons ot of ore a da from the mine lat at ham to the ml mill at Garfield I The mining company had organized I Its forces and prepared 19 it steam shovel the pro production named only to find that little littlemore more than one hal the tonn e could be delivered Nearly a years time was required fOr the railroad to be brou brought ht up to the required efficiency In the meantime the Utah Copper company lost much money and was delayed In demonstrating what I it could do But when that demonstration came the world was quIck to gasp grasp what I it meant An excellent Idea ot of the progress that Is being made by Utah Copper In cheaper mining In extending Is itz ore reserves and In effecting higher ex extraction tracton traction of values values from the lower grades may be obtained from the re report report port of the executive committee of the operations for the third quarter of 1909 ending September 30 whIch says In part Average Grade Improves As predicted In the last quarterly report the average grade and charac ter ot of the ores treated were somewhat Improved during the third quarter The average copper contents In Increased increased creased as compared wih with the previous quarter to the extent ot of pounds of copper per ton of ore although I It was still low on account ot of two of oC the tho ore shovels being worked most ot of the time In a low by grade porton portion of at our ourore ourore ore body Until about a year a ago o thIs part of the deposit depolt was as excluded from al calculations ot of our ore reserves as It was thought to be too low grade to tobe tobe be treated at a profi profit but now on ac account account count ot of more recent developments having shown a slightly better average value In that particular terrItory than was Indicated by the earler earlier workings as wel well as s on account ot of our operating costs being less than w s formerly expected we can handle this low grade material at a fair margin of profit even at the present low price ot of cop per perThe The chara ter ot of te the ore wih with re respect respect to Is its amenability to concen concentration Improved In geater greater proportion ton tion than did the value of th the ore to the end that durin during the tho quarter In queston question the average recovery per ton was Increased by over pounds ot of copper whereas the increased con contents contents tents as compared wih with the previous quarter was pounds per ton as previously ly stated so that considerably more than the total increased con cont t tents ot of the ore was actually re ov ered In other words the metallurgical cal results were much Improved as compared with the previous quarter More Copper Extracted The tonnage milled during the thIrd quarter was greater by an aver average average age of at approximatelY tons a day than that that for tor the preceding quarter This Increased tonnage together with the In InCreased copper contents of the theore theore ore treated resulted In the total amount ot of ore treated during the pe period nod having contained ap I pounds more copper tan than the total amount ot of ore treated during the second quarter The gross output ot of copper waS was however pounds greater than that for the previous quarter the total copper contained In concentrates produced and shipped to the smelter during the quarter under discussion having been pounds against pounds for tor forthe the quarter preceding Net Nat profit from mining and For thi this quarter the average cost at both plant plants was cents per pound for the net copper produced ater after de ducton ot of smelter allowances as against cents per pound for the second quarter and for the first quarter ter cents per pound Considering the results ot of the Gar field plant b by themselves the cost per pound of at the net copper produced was cents Costs at the Copperton mi mill millare are and always wIl will be somewhat higher than those at the Garfield plant plant but for the quarter under con consideration this condition was magni fled fied by the Copperton plant having run for a greater porton portion or of the time under short tonnage on account of I the alterations formerly referred to the resul result being that the Garfield plant produced more than 9 90 per cent ot of the total copper resulting tram from the quarters quarters operations The total cost ot of mining and mi mill millIng Ing was reduced as compared wih with the previous qu quarter by nearly 9 cents per ton ot of ore ore The actual cost at the plant ot of milling wasp was at Garfield slightly In excess ot of 47 cents a ton Fixed and general charges such as taxes Insurance general office ox ex expenses salaries etc etc Increase the ac actual actual working costs by approximately 5 cent cents a a ton s so that the average to total total tal cost of at milling at the Garfield plant with these things added amounted to per dr dry ton The per ton cost at Copperton were higher than the normal on account ot of the small tonnage treated In tat that plant as heretofore explained explained so that the average cost ot of milling at both plants was somewhat Increased a as compared wih with what I It would be wih with both plants running under normal con conditions The average milling costs for tor both plant plants Including al all fixed and I general charge was cents per I dry ton The cost ot of mining and al all expenses Incident thereto ot at the tho mine was 1539 cents per ton Generl General ex expense expense pense Items such as above referred to In connection wit with milling together wih with development expense and the fixed charge per ton to retire prep prepaid ld 1 stripping expense amounted to cent cents per ton making te the total aver average average age cost ot of mIning for tor the quarter 2522 cents per ton and the total aver average average age cost ot of mining and milling for tor both plants Including al all general charges development maintenance etc etc cents per ton The tonnage ot of underground ore mined was further reduced the quarter to 14 per cent of at the total ore mined At t the close ot of the quarter underground work had been entirely discontinued with the exception ot of 8 a moderate amount ot of development work and In the future al all but an In 1 I porton portion ot of te the tonnage I which wil will come from d wil will be extracted by steam shovel mil m mIng Ing The physical condition ot of the mine Is still improving and by the end thc year It Is expected that the ping wl wilt be so far advanced as to el e able ahle us ua to produce ore ot of a more nearly average grade and character During the past quay ter at least ot of te the t came from lower grade bodies I as I previously explained on account of t to beter better areas areas not having bet ben completely complete stripped so that a ton tn tonnage nage ot of clean ore could be secure I from them them S quarter milling operations for the Additional Income from rents etc etc f f Total net profit for the quarter f f The average prIce ot of copper upon which the earnings were based was 13 i cents a pound as compared wih with 1285 cents used In report for the previous I quarter At the close ot of quarter un under under der discussion the company had no cop copper copper per unsold but on the contrary all copper In transi transit and In process al of at treatment and refining which wi will be become become come due for delvery delivery up to Decem December December ber I 1 has been sold The Increased output ot of copper due to the slightly higher g grade ade ot of the theore theore ore am and to Is Its beter bettor concentrating characteristics reflects Itself sel ver very do de decided In the per pound eo cort t of f pro production ducton as compared wih with either the tint first or second quarter of at the year rear |
