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Show m JJ.QF.U LIBRARY iciTY 1 ' - 4 few f . j Features Mining, Oil, Financial V.k. y VOL. 22, NO. 51 sum One Year $2.50 Agency Organized To Process Mine Loans To Operate Alumina Unit Secretary .of the Interior Oscar L. Chapman today announced a change in the name of the Defense Minerals Administration to Defense Minerals Exploration Administration. The new name of this Interior Department defense agency, Secretary Chapman stated, more nearly describes Its duties, as the mineral programming, procurement and claimant agency functions that were administered by the former DMA have been transferred to the Defense Minerals Procurement Agency which was established in accordance with Executive Order 10281 of August Assistant Secretary of the In terior Robert R. Rose today an nounced that negotiations are underway for the' Bureau of to complete construction of the government owned Mines experimental alumina plant at Laramie, Wyoming, for recovering alumina and cement raw material from anorthosite rock and other aluminous ores.' The Bureau of Mines took possession of the Laramie plant on September 28, 1951. Mr. H. W. St. Clair, chief, Light Metals Branch, Bureau of Mines will have the responsibility for completion and operation of the plant. He will work directly with Mr. J. H. East, Regional Director of Region IV, Bureau low-gra- : 28, 1951. C. O. Mittendorf, formerly acting administrator for DMA, currently is serving as acting administrator of DMEA. He de will report directly to Robert R. Rose, assistant secretary of . . the Interior for Mineral of : . . Re- sources, to whom the secretary has delegated responsibility for supervision of DMEA as well as the Bureau of Mines and Geological Survey. The mineral exploration program which was inaugurated by DMA under authority of the Defense Production Act will be continued and expanded by of Mines. The Laramie plant was one four. ' experimental plants constructed by the Defense Plant Corporation during World War II. It was the last plant to be authorized and was never completed. At the end of World War II the immediate necessity for utilizing domestic materials, other than bauxite, for alumina production was alleviated and in 194r6 the Reconstruction Finance Corporation cancelled the contract for completion and operation of this plant. In September 1950, this plant was declared surplus by the R, F. C. and was made available to the General Services Administration for disposal. In the early part of 1951 serious consideration was given to the vulnerability of bauxite im ports.' Under the sponsorship of Senator O'Mahoney an appropriation of $350,000 was made available to the. Bureau of Mines under the Interior Department Appropriation Act of 1952 (Public Law 136, 82nd Congress) for completion of the construction of the Daramie plant. An additional $1,000,000 has been requested in the budget for 1953 for operation. Subsequent to an exchange of letters between the Department of the Interior and G. S. A. a permit was issued by Mr, Larson, Ad minis trator of General Services Administration, transferring the custody of this plant to the Department of the Interior for period of two years. This agreement permits extension for an additional year if needed. Discussions are in progress between the Bureau of Mines, R. F. C., Dorr Company, and others regarding plans for completion and operation of the Laramie plant. 19c Lead (per lb.) Gold (per or.).. .$34.9123 24.2c Copper 19.5c Zinc (per lb.) Silver (per oz.) 90.16c new mined Salt Lake City, December 21, 1951. Mines Bureau . S' METAL PRICES DMEA, Assistant Rose said. The extensive search Secretary Combined Metals Elates New Activity at Pioche in the Pioche district is scheduled of Expansion operations .Metals. Reduction Company, OttoJHerres, in 1952 by-- Combined ' , ! vice president, reports. r The company plans to produce manganese, increase output of lead and zinc, and accelerate. its development program. The expansion program includes construction of a plant at Pioche to concentrate-oxidizeores and erection of an electrolytic refinery at Henderson. Combined Metals is Nevada's largest producer of lead, silver and zinc. ; Its Caselton concentrator is currently treating about 1200 tons of sulphide oie daily, taken from the Caselton, Prince Consolidated and other Pioche mines. Some ore is re, d - - ported being milled from properties in the adjoining Comet area. The company employs 350 .persons and expects to add 100 to the payroll in 1952. Samuel S. Arentz Jr., is general manager of the corporation. :y Properties owned or controlled by: Combined Metals prowere prolific silver-lea- d ducers in Nevadas early years, deposand mining, of lead-zin- c its on a substantial scale began about 1924. Mines are credited with huge oxidized ere deposits containing lead, zinc, which will be concentrated by a newly developed process. The Henderson refinery will be designed to recover lead, manganese and other metals from concentrates turned out; by the new Pioche plants Pioche Record. Ore Shipments 1951 Week Ending Dee. 15, BINGHAM DISTRICT UTAH United States Mining . 7556 Tons Combined Metals Re- -' duction Co. . . . , . . . 330 Tons Utah Copper (Kenne- - . Ton ,.995-8- 5 cott) . Cars Daily Average EUREKA DISTRICT UTAH Empire Mine, Dump Ore. i Car Chief Consolidated, Ore. 35 Cars Dragon Consolidated, 12 Cars Clay PARK CITY DISTRICT UTAH New Park Mining Co. . 1718 Tons .1467 Tons Park Utah Coalition Silver King 120 Tons Cone: PIOCHE DISTRICT NEVADA Combined' Metals Reduction Co. ,7 Cars Zinc. Cone. .3 Cars Lead Cone. 8 Cars Perlite A. and J. Hogle (Courtesy Company) . ...: ...; ........ for new and unproved mineral deposits in the United States which 'the program has stimulated, he added, must be intensified to help assure the future security of the nation. 'This program to increase the mineral resources of our country, Assistant Secretary Rose stated, "will be administered aggressively, impartially and objectively. We shall provide every necessary incentive permissible under the law to encourage the discovery and development of deposits of strategic and critical minerals, but projects will be approved, as in the, past, only in the basis of their merit.- Wherever technical inquiries are required, DMEA will continue to utilize Services available from the Geological Survey and the Bureau of Mines to assure reasonableness and feasibility of applications . . - . Officers of Spokane Mart Reelected All trustees and officers uf the Spokane Stock Exchange were reelected at the annua) meeting of members held iii Spokane last week. Continued in office for another year were Louis H. Hachezt, president; Leigh E. Nicholls vice president; Roy E. Nelson, secretary; George A. Preston, treasurer; and Paul L. Sandberg, director. T. Dan Mortimer was reappointed assistant secretary. Shortly, before the meeting members heard James E. Newt ton, regional director of tho Seattle office of the securities and exchange commission, explain the background of the list of 181 Canadian stock issuest mostly metals and oils, which was circulated recently .by thef Washington, D. C., headquarters of the SEC. He said the list represente4 new Canadian issues which hav not been registered with the SEC for distribution in thd United States and was made up to assist brokers and dealers indetermining which stocks they can handle without violating the American securities act. Unsolicited buy orders on tha 181 issues can be legally filled Newton explained, if the stocl$ is purchased from, a Canadian - from a geological and engineerinvestor or aa broker not coning standpoint. From April 6, 1951; when the cerned with distribution of thi The burden of proof as exploration program was initi- issue. to the legality of the stock hanated under Mineral Order No. 5 of the DMA, up to November dled, however, rests with thp 19, a total of 208. exploration broker filling the order, ha projects have been approved. said. Sell orders from U. S. invesThese projects are estimated to can be handled only if the tors cost a total of $11,014,517.02, of is sold in Canada. Resale stock which the government has to U. S. investor is not another agreed to contribute $6,561,-604.9-3, or 59.63 per cent. The permitted. Exchange members agreed inaverage total cost of these projects is $52,954, and the average formally to handle any buy orders in the listed securities. government contribution is They will, however, execute sell $31,516. orders from U. S. stockholders Up to the same date, 318 ap- by disposing of the stock in 4 Continued on Page ......... Copper Sulfate fo ctll of you from all of us WESTERN MINERAL SURVEY Production of copper sulfate rose 14 per cent in October and except for May was at'the highest monthly rate of the year, according to the Bureau of Mines, .United States Department of the Interior. Shipments were 14 per cent less than in August and the lowest since same month in 1949. Actual monthly data are not available prior to 1951. Stocks rose 66 per cent and were sufficient for almost months requirements at the October rate of "A miners best friend is f machine. The machine makes it possible for a man to produce more, and more production means greater earnings. Not only that, to run a machine, a man has to be more highly skilled, and that pays off, too. Thats why I say, a miner's best friend is a machine." s V |