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Show Pare Friday, June THE WESTERN MINERAL SURVEY 2 WESTERN MINERAL Help Needed! SURVEY We in the mineral industry need speedy enactment of measures to relieve the lead-zin- c industry in the western United the recent drastic declines in of the in States, especially light lead and zinc prices in the United States. This decline in prices marked the end of the road for at least one major mining company, Chief Consolidated Mining Co. A producer of lead and zinc for the nation since 1909 it suspended operations as of June 15. This marks the end of the road for the last operating metal mine in the historic Eureka-Tinti- c district of Utah, which lias produced 500 billion dollars worth of strategic metals during two World Wars and the Korean War for the United States. Cecil Fitch Jr., president and general manager of Chief Consolidated, said, We have been fighting an economic battle against foreign imports for 11 years. The mines that are closing now, including Chief Consolidated, are not marginal mines. They all closed five years ago. 'The mineral policy as presented by Interior Secretary Fred Seaton is highly gratifying as to lead and zinc in that it recognizes the principle of protection that has been so consistently expressed by the American mining industry. And that principle is that some degree of protection must be provided against low-coimports of these metals when domestic prices decline to the point that they threaten serious injury to domestic producers. The proposed excise taxes on imports would be removed when domestic prices are at a level under which the American industry can live. st The mining industry can offer some constructive suggestions for Congress consideration on the details of the program. These will concern peril points which are to be established in the proposed law, amount of the proposed import tax and the differ- NJTWB 421 Z4Q2 ChuKb - CIRCULATION Stmt Phona KM Curtla St., Denver 40 ALplne ADVKRTI8XNQ SOX EM 2608 Method Used to IjtikiHg oh4 Prolong Life of UlutA Oil Old Oil Wells jk Sriejf Sait Lake City. Utah How pumping natural gas into an underground petroleum resaa aeeond claaa Entered natter at 8a! ervoir to force oil toward proLake City, Utah, under Act of Marcn 2, ducing wells halted a steady drop 1879. in output at Californias largest Subacrlptlon rates: 05.00 for two years; 3.00 for one year. oil field is described in a Bureau Please mention Western Mineral Survey of Mines report released today when writing to advertisers. Advertising by the Department of the Interior. rates on application. The report presents information obtained in a Bureau engineer. .Editor U M. HILL ing study of the Wilmington field in Californias Los Angeles Basin, where gas injection has been Western practiced as a secondary ail- - reIn the All news appearing Mineral Survey Is obtained from sources covery measure in two areas of relieved to be reliable but no responsibility 2402 Curtla St., Denver 21, 1957 ALplne MINING MEN are saying the three-montpricing period, on which the administrations prolead-zin- c posed excise taxes on too imports would be based, is long. It would give foreign producers too much chance to dump metal in the U.S. before boosts are made. RESIGNATION of Felix E. Wormser, Assistant Secretary of the Interior, is effective tomorthe for the four reservoir Is assumed for accuracy of statements. past' row. Reproduction of any material from this years. This field, with approxipublication must have written permission DAYBREAK has uncovered anfrom the publlsner. mately 3,000 active wells, is one other high grade pocket of uraof the Nations largest. nium at its Huffman lease. The lens is expected to yield over 20 tons of greenish autunite running about 1 percent uranium oxide or better. The firm currently is stockpiling ore at three properties. . Uranium Firm Two Drill Tests GetsTemporary Fail In Purpose Suspension Two drill stem tests of the The Securities and Exchange Commission has issued an order temporarily suspending a Regulation A exemption from registration with respect to a public offering of securities by Carbon Uranium Company of Salt Lake City, Utah. The order provides an opportunity for hearing, upon request, on the question whether the suspension should be vacated or made permanent. entials between taxes on metals and on imported concentrates. (A peril point is that point at which the excise import tax would become operative). In the light of recent drastic declines in lead and zinc prices, it is hoped that this lead-zin- c proposal will be speedily formulated into legislation and enacted into law. It must be recognized that the stockpile purchases and bartering of surplus commodities for Regulation A provides a condimetals and minerals, while of definite help tional registration under the Sethe curities not exceeding $300,000 in measures. in past years, are necessarily temporary, stop-ga-p amount In its Regulation A notiIt is unfortunate that the long range minerals program as fication, filed April 27, 1955, Carpresented does not seem to provide adequate relief for other bon Uranium Company proposed branches of the mining industry which currently are in depressed the public offering of 746,280 shares of its 25c per share, purcondition. suant to such an exemption. The Commission in its suspention order asserts that it has reasonable caus teo believe that the terms and conditions of Regulation A have not been complied with by the Carbon Uranium Company in that it failed to include in the notification information as to all unregistered seof the company sold withcurities a third at mill proposes Reports of planning for a in one in Riverton. is The mill firm ore a uranium year prior to the filing of subsidiary processing this of notification and failed to give Susquehanna Corp., Chicago, the Wyoming were confirmed inis which the also week by N. B. ORear, public parent company its ddress in the circular. formation officer. Grand Junction of Mines Development, Inc., a The temporary suspension order Operations Office, Atomic Energy company now operating a mill in further alleges that the CommisCommission. sion has reason to believe that Edgemont, S.D. Fremont Minerals, Inc., Denver, notification and offering cirthe CONSTRUCTION of the new are misleading concerning cular mill in Fremont County pends stock sold and issued prior the study and evaluation by the to the the consideration filing; Atomic Energy Commission and received the company for by negotiations with Fremont Min- such of the stock, obligations erals officials on price AEC will Carbon contract the under by pay for the concentrates it pro- which it agreed to purchase cerUtah needs to do more work duces, Mr. ORear explained. tain claims; and its finto insure conservation of its oil Two mills already are under ancialmining condition in that Carbons and gas reserves, according to construction, one by Western liabilities are understated by Gov. George D. Clyde. Nuclear Corp., at Split Rock and He said Sunday that the state the other by Lucky Me Uranium $40,000, its outstanding stock is understated by approximately needs more knowledge and in- Corp., in Fremont County. 400,000 shares, and its assets are formation on the complicated Western Nuclears mill is beasserts the use of the circular that business of oil and gas conser- ing erected at a cost of $3,600,000 Without disclosure whether necvation. to process 400 tons of ore a day. assessment work had been essary Gov. The We have the tools, Lucky Me mill originally was performed on the companys unlaws Clyde said, in existing state' facproposed as a and the State Oil Conservation ility and booster just prior to patented mining claims and without disclosure that the underCommission which operates under construction start to a writer of the offering had ceased the State Land Board. unit. Its cost is 6,900,000. acting as such, would be misThe commission, he said, should The Colorado office also leading. a proposal from Apex adopt such regulations as are appropriate to prevent the loss of Minerals Corp., Reno, Navada, for reserves in the first Nevada mill. Utah's petroleum ATOMIC ENERGY will be featheir development. Apexs plans call for a at the Iraho Assotured What those measures should facility involving con- ciation convention inMining Sun Valley, be the governor does not know, version of an existing tungsten July he said, but part of the prob- plant to handle uranium. lem is to prevent waste in Both proposals will be reviewed basins which extend across state to determine financial status of LEAD dipped 1 cent a pound to lines, to prevent loss of gas in the companies and whether ore 14c for a total decline of 2c since oil production and to avoid only reserves are available to maintain early last month. Weakness of the partial recovery of oil fields. operation for five years. London lead market was blamed. foreign-produce- d Big Flat, Grand County, wildcat of the Pure Oil Co. have failed to find the oil and gas which caused the blowout in the well over a month ago, Glen M. Ruby, Salt Lake City said. The operator of the Big Flat Unit said that Pure engineers think the well can best be tested by running casing and all possible zones in the Paradox that show up on the electric logs. They are now drilling ahead to test the Mississippian formation at approximately 7,500 feet. This is 1,000 feet below present total depth of the well, Mr. Ruby regun-perforati- lated. Since this well is logging (run- about 175 ning formation-wise- ) feet higher structuraly than the King well, they (the engineers) think chances of finding a commercial well in that formation are much better, the petroleum geologist said. Mine Bureau Issues New Detailed Report On Molybdenum A comprehensive new technical and economic survey on Molyone of the Nations bdenum most important ferroalloy metals has just been released by the Bureau of Mines of the Department of the Interior. Discussing virtually every facet of .the molybdenum industry, including production, sonsumption, imports exports, supply, demand, and many other subjects, the report is now available to businessmen, scientists, teachers, students, and others seeking information on this essential metal. up-to-d- ate New Uranium Mill F or Riverton, Wyoming Awaits Further Study 750-ton-a-d- Clyde Presses Work On Oil Salvaging Mill of GEYSER MARION GOLD MINING CO. 750-ton-a-d- ay 1,350-ton-a-d- Mercur, Utah ay EQUIPMENT TO BE SOLD AT A FRACTION OF COST re-cie- ved 200-ton-a-- day 14-1- 6. Crushers & Rolls Ore Rotary Kiln - Truck Scales . Cedar Rapids Crusher Crusher Assay Type Sampler & Trommel Screen - Steel Tanks - Ball Mills - Wilfrey Pumps Triplex Pumps - Vacuum Pumps - Classifiers - Thickeners. All Buildings and Housing Lumber - Galv. Corrugated Sheets - Pan Type Feeders Transformers - Pipe Motors. -- . -- . BOTHWELL CONSTRUCTION CO. 216 KEARNS BUILDING EMpire |