OCR Text |
Show Success of TGI Mine Reflected in Report Officials of Texas Gulf, Inc. reported this week in their report of earnings earn-ings for the first three quarters of 1972 that the new solution - mining process at the Cane Creek potash mine has continued to demonstrate demon-strate the success of this new method. The plant is expected to produce about 300,000 tons of potash per year. The product is a pure-white muriate of potash containing con-taining approximately 61 per cent K20, a premium quality for the industry. Potash produced from conventional mining methods me-thods is pink in color. The company also reported re-ported that production at the Allan Potash Mines in Saskatchewan, Canada was reduced during July for scheduled sche-duled maintenance. Net income reported for the third quarter of 1972 amounted to $8, 751,000 or 29 cents per share, compared with net income of$6,030,000 or 20 cents per share in. the third quarter of 1971. Net income for the first nine months ofl972 amounted to $20,835,000 or 69 cents per share, compared with $19,035, 000 or 63 cents per share for the first nine months of 1971.- All of the company's major products showed improvement in the third quarter compared with the same period last year, the report said. |