Show ANACONDA COPPER MINING OFFICIALS ELUCIDATE RED METAL SITUATION coincident with anaconda coppers declaration of a 75 cents a share dividend on common stock payable february 16 to stock of record january 17 chairman john D ryan and president C F kelley prepared a digest of the copper situation while the apparent consumption of the red metal increased rapidly during the world war and in the aggregate attained enormous proportions consumption at the present time under the stimulus of prosperous business conditions dit ions according to the latest authentic figures has attained a level comparable with that existing at the height of war activity during the immediate postwar post war years the copper industry passed through a particularly depressing period in no small degree due to the enormous supplies of the metal both in virgin and salvaged form accumulated in the hands of or at the direction of governmental authorities it has been evident for some time that these large unabsorbed stocks have finally passed into the channels of consumption and that the industry is once again upon a more normal basis as between current production and consumption the world over copper industry will tax production growth of the electrical industry and increasing activity in all other lines of industry Nv wherein herein copper is an essential sent ial will undoubtedly create a demand on the copper industry that will tax its capacity to meet it is believed that the additional copper production from this property will be needed and should be marketed at a price materially higher than now prevails the following tabulation constituting the most accurate statistics available indicates the growth of copper consumption in the united states and throughout the world for r certain specified periods during the past fourteen years period united states world 1911 1913 2 1914 H mg 1918 1 1919 11 1923 i 1924 sl apar adsit it will be observed that whereas the consumption of the e united states in this period has shown the large increase of approximately per cent the consumption ibn of the e rest of the world has increased probably less than 15 per cent while this relative condition is in part due to the utilization of surplus and salvaged war supplies of the metal nevertheless it affords an indication of the probable large future demand from foreign sources production costs essential element the essential element transcending all others in its importance in the success of any mining property such as copper is the cost of production which obviously varies considerably and is affected primarily by the nature and occurrence of the ore the mining and reducing methods employed and transportation faculties facil ties available as well as other factors which are essentially predetermined pre determined by the physical characteristics of each individual property the great commercial advantage of exceptionally low cost production is obvious as the following approximate estimate of present world production at various cost levels will show per cent pounds to total under loc per lb between loc and per ib between and per lb ib between and per ib 49 1000 the andes copper mining company will be one of the low cost copper producing companies inthe in the world and as shown above will be embraced within the group which produces at a cost under loc iper pound and the production of which aggregates only one third of the estimated total world production |