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Show 2 October 10, 1953 The Western Mineral Survey, Salt Lake City, Utah New Contracts Signed As To Mineral Exploration Pays Continued from Page 50 to 90 per cent depending upon the mineral sought, because some ores are more urgently needed and are more difficult to find in commercial quantities. Of the 32 new exploration projects, three in Arizona will cost approximately $118,000; 12 Process Found For Treating Ore Deposit Wyoming Iron for successful method has been Head Anaconda Aluminum Company developed DENVER, Colo. A treating ores from Wyomings Iron Mountain deposit, the nations second largest known reserve of titaniferous magnetite, J. H. East, Jr., regional director of the Bureau of Mines, announced today. The- - Iron Mountain deposit, 47 , miles northeast of Laramie, contains millions otf tons of ore. metUsing their new process, Inallurgists at the Bureaus New Mexico, $164,000; and 13 in Utah, $903,000. The largest contract, signed with the United States Smelting, Refining and Mining Co. of Salt Lake City, Utah, provides for a $617,000 lead-zin- c exploration at the United States and Lark mines m Utah County. A complete list of the recentfour in ly approved projects follows: 1 in Colorado, $263,000; . -- Manganese Purchase Depots Named termountain Experiment Station in Salt Lake City have reThe government will accept covered from these ores not of manganese ore at e iron but stra- shipments only its purchase depots at Wen-dehigh-grad- n, tegic vanadium and titanium as well, East said. Vanadium is a well known agent, while the new wonder titanium metal of industry and defense, first made available by Bureau of Mines research is finding new uses almost daily as production facilities are doubled and redoubled. These uses, both actual and potential, include jet plane engines and fuselages, snorkels for submarines, airdrop weapons of many types, and scores of others. Although some $5 a still expensive titanium has unique pound advantages: Weighing only half as much as steel, it is equally strong; it becomes even tougher under high temperatures; and it is both rustproof and erohighly resistant to steam sion. A report published by the Department of the Interior on the new process for treating Iron Mountain ores states that 90 per cent of the vanadium was recovered in a product assaying more than 80 per cent vanadium oxide, by roasting a mixture of the ore and sodium carbonate at 950C. and then leaching it in water. By smelting the lepched residue in an arc furnace, 98 per cent of the iron was recovered as pig iron assaying less than 0.1 per cent vanadium and titanium, and substantially all of the titanium was recovered in a slag assaying 60 per cent titanium dioxide. This material was upgraded to 75 or 80 per cent and can be used to provide titanium dioxide pigments or titanium tetrachloride. The report points out that although the tests were performed on surface ore samples, which are higher grade than the main ore body, core tests on diamond-dril- l 80 70 to indicated that samples per cent of the titanium and iron in the main ore body can be recovered as a concentrate assaying virtually the same as the surface ore. The Bureaus report was written by A. E. Back and C. J. Chindgren, metallurgists, and R. G. Peterson, physical science aid, all of the Bureaus Salt Lake City station. It contains a detailed account of the various tests performed and the method of ore treatment developed, as well as a flow sheet and illustrations showing the equipment used. A free copy of Report of InTreatment vestigations 4902, of Titaniferous Magnetite Ore from Iron Mountain, Wyo., may be obtained from the Bureau of Mines, Publications Distribution 4800 Section, Forbes Street, Pittsburgh 13, Pa. steel-tougheni- Francis 0. Case, vice president of Anaconda Copper Mining Company since 1948, has been elected president of Anaconda Aluthe newly-forme- d minum Company. During World War II, Mr. Case was general manager of Basic Magnesium, Inc., of Henderson, Nev. Anacondas primary aluminum plant, now in theis preliminary construction stage, to be located near Columbia Falls, Mont. The $45,000,000. project will have two pot-lincapable of proaluminum anof tons 50,000 ducing nually. The plant is scheduled fox completion early in 1954. KJEW YORK es Outside Funds Canada Mines '' New mining ventures and the oil boom in western Canada were major factors in attracting more than $1,500,000,000 in foreign investment into Canada during the past two years, Graham Towers, governor of the Bank of Canada, indicated in the 1951 annual report of the foreign exchange control. Towers said there was nothing In this generation to compare with the current capital investment boom. The net inflow of. investment $960,000,-00- 0 in 1950 and $560,000,000 in could be compared only with the big expansion period in the early 1900s. Although the rate of capital inflow dropped by $400,000,000 last year from 1950 it was still larger than any previous year except 1950, and w w more than 11 times greater than the total of $49,000,000 in 1949, he pointed out. Direct investment from the United States last year, exclusive of reinvested earnings .of foreign branch plants and affiliated companies, mounted to a peak of $259,000,000, with the biggest part of it, possibly directed into western oil, iron ore in Labrador, other mining ventures and pulp paper, he said. $903,479 Canadas official reserves of gold and U. S. dollars increased 0 $37,000,000 last year to at the year end. This increase was sharply down from the $624,000,000 climb in the previous year. Estate offers for sale 78 per cent of stock of Mining ComConcurrently with the ecopany, incorporated in State of Utah. Mining properties are nomic expansion boom, Canlocated two miles west of Ely, Nevada, and only a quarter dollar has climbed to about adas of a mile from Kennecotts big open pit Copper Mine. the U. S. currency and with par Hundreds of thousands of dollars of ore has been removed as a result the foreign exchange to date. This offer presents opportunity to obtain concontrol board had to write off trol for a few thousand dollars. For .further information $81,000,000 as a loss due to dewrite or call George C. Maw, administrator, estate, Richard preciation in the value of reC. Badger, 2167 West, 5600 South, Boy, Utah. serves, expressed in terms of American money, Towers 1951 al-ha- lf, $1,778,-600,00- OPPORTUNITY . ore-dressi- Arizona, and Deming, New Mexico, with a high lead and zinc content, provided such ore can be nodulized and upgraded to meet specifications, the General Service Administration announced today. Government spec ifications call for ore with a maximum c content of 1.0 per cent, of which not more than 0.25 may be copper. Under amended regulations issued today, ores with a higher lead and zinc content will be accepted if such ores can be nodulized and upgraded to meet these specifications. The shipper will be charged $2.25 per long ton for high lead and zinc ores to cover costs of nodulization, GSA said. Purchasing of manganese is handled by the Emergency Procurement Service of GSA for the Defense Materials Procurement Agency. EPS also operates manganese depots at Butte and Philipsburg, Mont., as well as a nation-wid- e program under which producers may deliver specification ores in carload lots at any rail point. copper-lead-zin- Return To Gold Standard Held Vital Americas envied standard of living has been built by faith in contracts faith in perform, ance by the buyer, faith in payment by the seller. Then a .... third party . . . the government stepped in by changing the definition otf the most important factor in every contract the U. S. dollar and by g . . . abro-gatin- the citizens rights ta redeem currency for gold coin, says the Gold Standard League. Money is a commodity as well as a medium of exchange. An oversupply of it decreases its value. And there is a growing oversupply of currency in the U. S. today produced by government policies, such as monetizing its own debt, which can be practiced only when the control of the public purse baa been taken from the people. On the other hand, printing press money is robbing the individual of his earnings, of his savings, of return on his investments, of his ambition to furnish, enterprise capital. These are the material factors of freedom when they wither, individual liberty dies. We must return to the Gold Coin Standard . . . which gives every citizen the right to redeem his currency for gold when he is displeased with government policy. It is a binding contract on government that preserves the freedom of its citizens. When this contract has been rewritten Into the U. S. American monetary system will be able to plan industry increasachieve to Intelligently conwhich ing productivity stantly improves the living standards of all our people. |