Show UTAH COPPER REPORT covers quarter embracing auy august and september the utah copper company has issued itt its regular quarterly report as follows the results of the operations and business of your company are herein presented for the months of july august and september this being the third quarterly report for the calendar and fiscal year 1910 during the month of july all three of the concentrating plants were in operation at the end of july the copperton hopperton Cop plant was closed down permanently and therefore for the months of august and september this report covers the operations of the magna and arthur plants only the copperton hopperton Cop plant was closed in conformity with the decision of the directors that the entire output of the property could be more economically and profitably handled in the larger mills near garfield and that therefore it would be to the best operating interests to dismantle the copperton hopperton Cop plant and use the machinery in it for the enlargement of capacity and improvement of the arthur plant most of the machinery from copperton hopperton Cop has been transferred to the arthur plant and as the new material necessary to td the enlargement lar gement of it has recently commenced to arrive a portion of this mill has been closed for remodeling purposes it will be near the end of the year before any portion of the arthur plant can be put in operation in its remodeled form in the meantime its present capacity will be reduced about one third but when the alterations are completed its capacity will be more than doubled the improvement of the magna plant is practically complete and that plant now has a normal capacity in excess of tons per day the relative proportions of tonnage treated at the magna and arthur mills during the months of august and september after the ore formerly milled at copperton hopperton Cop had been diverted to them was approximately 75 per cent at the magna and 25 per cent at the arthur at the present time the proportion being treated at magna is higher than this due to a portion of the arthur plant being closed down for alterations te rations the total tonnage milled for the third quarter was somewhat less than that for the second quarter and the copper contents of the ore treated was also considerably lower As a consequence the total copper contained in concentrates produced leed for the third quarter was 2 pounds as cony compared to pounds for the previous quarter a a decrease in production of 1929 pounds the production for the month of july was in excess of the average production for the preceding three months so that the deficiency in production forthe for the third ter as compared to the second came entirely in the months of august and september the gross production by months for the sec ond and third quarters are given for comparison as follows second quarter pounds april may june 1 total average monthly production third quarter pounds july august september total average monthly production the decrease in output is due in part to the decrease in tonnage previously mentioned resulting from the closing down of the copperton hopperton Cop mill during a time when the other plants were in process of reconstruction and before they were prepared to accommodate all of the tonnage that had previously been milled at copperton hopperton Cop the most important factor in the decrease in production however was that of the lower grade ores handled the average copper contents of all the ore milled for the quarter was 15 per cent and the grade for the month of september was only per cent the net profits from mining and milling operations were additional income from rents and miscellaneous sources in utah income from nevada consolidated copper company dividends total net profit for quarter dividends paid net surplus for quarter these earnings are computed on a basis of 1212 12 cents per pound for copper at the close of the quarter no copper due for delivery from refineries remained unsold the average cost per pound of the net copper produced after smelter deductions were made was cents per pound as compared with cents per pound for the preceding quarter this difference is accounted for entirely by the treatment of a decreased tonnage of lower grade ore as previously explained of the total ore produced during the quarter about 83 per cent came from surface shovel mining and 17 per cent from underground it is and will be necessary to continue underground mining for some time to come in the area acquired from the boston consolidated company until the surface of that territory can be sufficiently stripped to admit of securing ore from it by steam shovel methods no steam shovel ore has as yet been reduced from boston consolidated ground since its acquisition but four shovels are now engaged in stripping portions of that territory and preparations are being made to start three more the total number of shovels engaged on the entire property at this time in mining and stripping is seventeen so that the three new stripping shovels on boston consolidated soli dated ground will bring the total number of shovels up to twenty construction work on the bingham garfield railway is progressing rapidly and at this time the open grading of the entire line is about 70 per cent completed the grading on the connection between the magna plant and the junction of the bingham garfield and san pedro railroads is 26 MIN REV about 90 per cent finished and this part of the line will be ready for track in november all the necessary materials for laying track on this portion of the line are on hand and we will therefore be in a position to operate our own line to the magna and arthur plants before the end of the year the tunnels on the upper portion of the line will not be completed before april but in the meantime track will be laid on all the remainder of the line and the entire line will be ready for operation some time during the second quarter of next year |