Show CERRO DE PASCO ACTIVE the continuance of the presence of a very high gold and silver content in the ores of the cerro de pasco mines of peru is given as the reason for the present activity in the shares of this company according to the boston news bureau which says this of course brings down production costs with result that cerro is earning well in excess of dividend requirements cerros disbursement has been at the annual rate of 4 a share since last february cerros ore has always run high in silver recently another ore body was uncovered showing high gold content the company makes a practice of only reporting copper output but it is estimated silver runs between and ounces to the ton of copper the company produced pounds or about tons of copper in the eight months to august 31 figuring only ounces to the ton and a minimum selling price of 1 an ounce although the white metal has averaged better than this price since january 1 last this would mean profits of from silver alone assuming that tha th cost of turning out silver is charged to copper production the profits from silver production will come in very handy for cerro the new smelter to be built near oroya aroya the junction point of the cerro de pasco railway and the central railway of peru at a height of feet is expected to cost in the neighborhood of this project will be financed from earnings if deliveries of material are expedited the new plant ought to be ready for operation in december 1921 with a capacity of something like pounds of copper annually or double the present capacity |