Show kay predicts rising costs will force ore prices GRAND JUNCTION colo the 1964 4 president of 0 the colorado mining association believes the rising oat 0 of uranium ore production will necessitate a higher purchase price tf 9 the boom on the colorado pla tean can Is L to continue however he mid during the next few years the colorado plateau will see increased activity due to the construction construction of new mills and ore production from rom past disco discoveries erles marvin L kay president of the tile association and aud vice president and general manager of climax ura ell ilium u m co declared that most of th the e outcrops and ura lum deposits cl close ose to the surface on the plateau a t eau have been mined that uthie ore discoveries will be deeper in the earth and therefore all costs including those of exploration ani and mining are rising constantly previously sly he said prospectors drilled to an average depth of or r less feet at a probable total cost of about per hole today however core drilling must go down to feet raising the costs of this single operation to approximately asoo WO per hole formerly too he said tt it was rather to dig an incline to the disco discovered vend uranium ore bodies but today it Is 1 becoming necessary to sink regular mining shafts and to install more expensive equipment in order to bring the ore to the surface too prices for uranium urani tim clainie blaim have rhen in tile past five years from CM 50 per to thou thousands ands of 0 dollars per claim kay kay pointed to another disturbing factor now facing the tile uranium miner today as being the validity of f the tide title to his mining c claim I 1 aim tl alie 1 e united states mining laws do not provide for making a valid celim location for mineral deposits nol exposed at the surface said kay unless congress amends his this law providing for making a valid location loci tion of claims lengthy court procedures will be certain liin to follow overall kay would make but a few comments concerning what viall ill happen in the uranium mining and milling business if the government purchase program ends in 1962 |