Salt Lake Telegram | 1930-01-05 | Page 23 | Nonferrous Metal Mine Industry Enjoys Prosperity in Past Year

Metal Mine Industry Enjoys Prosperity rity in Past Year opper and Lead Producers Reported in Strong Position Position Position tion With Cheerful Outlook for 1930 Future f r. Uncertain for Zinc and Silver xv i. I By fly ARTHUR W. W ALLEN f Editor t Engineering and Mining Journal r Judging by an increase of about in tot total l dividend dis- dis JI during 1929 tho nonferrous metal minin mining industry enjoyed prosperous prospero year Copper producers the largest factors in this crease They can point pont to 1929 as tho best year in the history of tho the After a seemingly insatiable demand shot the tho price up to cents a pound early in the year the copper market was wa more or less stabilized at 18 cents compared with an average of cents 1928 World production in 1929 w will ll prove to bo be about tons with tons in 1928 United States m mines nes took their full are arc of this increase The future can be faced by the copper mines ith confidence The deposits discovered in Rhodesia of which much is II been made will be needed to meet increasing demands Production am om m this source will bo be comparatively small at first and will not bereal be bereal real al factor for several years year Of or tho other metals lead also had nad- oo year ear Tho average price lifts hns in n well above c last years year's car avem average 61 cents a pound Recently there theres s been some weakening but de- de tn md in th the dorno domestic tic market con- con c. c excellent World WorM production 11 Ii probably ho bo tons Lead Leads s i been the most flOSt stable of the met inel- tol Ifor several sc years cars The Important I in tho tim Industry arc mc ox- ox I mely mey strong and a a. continuation stability seems assure assured Zinc Inc on the thc other uther hand does docs oes not notI d' d I tho the year eat with cheerful pros pros- c eta An n Increase o in the price dur- dur j summer stimulated d l n II too greatly g Overproduction 3 3 resulted and mines aro arc r- r output particularly In tho Trl Tn Ito tto db tho most must Important pIo producing section S Sv- Sv vU v- v U 11 new sources of ol zinc am aro eln New uses for fot or this I IJ be lc needed if closing of ot b flea nea is to he prevented World Auction has lias IH It CU en at tho tim rate rata of or I t yearly ea Silver 11 produced d largely as 35 a by- by duct a ot of copper and md lead Iad declined J im fl 57 cents an to 1 19 cents ring Increase o in III production copper und and lead has thrown ad- ad tonal lonal quantities s of silver sliver on un the tho for fUI which no nu demand exists tiled States production will prove bo a about out ounces in ill 19 1923 I t increase of ot ounces orld orid figures ures are arc not riot yet ct 0 available lc ico is expected to show a dc- dc ease but otherwise production productions s been hL higher her Tin statistics of or production are arc arct aret t l easily obtained but an Increase cx expected Although h deliveries cries in ine e 5 United States Stales showed nn fin in incase inease In- In ease case of ot tons In Iii the first ten tn c of or I 1929 the price has f dropped sharply from 4 49 cents a pound to 10 JO cents Efforts arc are being made mado to restrict output There IS la also 1 a possibility that action m may lY bo be taken by y tb tho th Federated Malay Stales Stute government to control output there O Overproduction is an nn unknown evil e in tho the mining gold in industry On th the the- whole a a. substantial increase Ina may be expected to be e recorded for 1929 A aro part of or the tho increase will viii come from copper coppel operations opel but hut con conditions in Canadian and Aus Australian us- us mining gold districts ruo ro o Im un- un proving n tn n 1929 South Africa which produces about GO CO per pct cent centor of or th the the- total of or ounces abl made made- madea a n. ne new record