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Show Page 5 OIL & MINING JOURNAL September 8, 1969 Western States Mineral production values climbing Utah's mineral-productio- n value reached $424 million in 1968-- $ 69 million more than the previous year, but $25 million less than the record high of $449 million in 1966, the Bureau of Mines reported. $893.8 million, up near $20 million over 1967. Mineral production in 1968 was hurt by the Wyoming reached a record high of $576 million, a gain of nine percent over the year before. Colorados mineral mineral production Comparatively, production in New Mexico was was $359.5 million, a gain of four percent over 1967. National Lead, Utah ink final pact A final' leasing and royalty agreement between National Lead Co. and the state has been signed regarding magnesium chloride and magnesium metal to be extracted from the brines of Great Salt Lake. When fully productive in a few years, the royalties are expected to approximate $100,000 to $150,000 a year, said Charles R. Hansen, director, State Land Board, in announcing approval of the agreement by State Atty. Gen. Vernon B. Romney. The closing of the agreement between the company and the state follows the announcement last spring to Gov. Calvin L. Rampton of the companys intention to invest some $70 million for a plant to collect and process the lake brines. Last April National Lead Co. announced it had acquired the Inc. in the interests of H-K, the Brush Beryllium Co. mill near Delta to process ores from a Highlights: --Utahs metals production in three-mon- th nationwide mine near Spor Mountain. carryover of the --- 500-to- n A concentrator at copper-industr- y strike which began in mid-196-- Copper headed the list in value at $191 million. Other leading value producers in order were: Petroleum, $63 million; coal, $25 million; uranium, $13 million; gold, $13 million (produced as byproduct of copper); lead, $12 million, and zinc, $9 million. Top events of the year were: -- Completion of evaporation ponds, fumes, and canals by agreements Original project. Great Salt Lake Minerals & covered leases and Chemicals Co. near with H-Ogden for on chloride, magnesium royalties recovery of potassium sulfate, Mr. Hansen said, but didnt sodium sulfate and magnesium include any eventual processing chloride from the Great Salt for finished magnesium metal, if Lake. Processing plant facilities the process went that far. will be complete in 1970 with The completed agreement production and sales to begin in now includes magnesium metal, 1971. --The start of construction on along with the chloride extracted from the. lake. The 49-yeleases cover about 20,000 acres along the lake shore, which will be used for settling ponds and plant site. National Lead also has an additional 100,000 acres under K -d ay the Burgin million barrels dropped slightly--2.- 3 percent-becau- se newly discovered reserves failed to offset depletion of older Kennecott Copper Corp. Announcement by Rio reservoirs. The Greater Aneth Area in Algom Mines Ltd. that uranium mine and mill would be San Juan County remained the constructed on its Humeca most productive field in the state with nine million barrels. property south of Moab. Red Wash, in Uintah County, Beginning of unit-trai- n second with 6.2 million operations between the ranked Sunnyside coal mine of Kaiser barrels. Royalties paid to state Steel Corp. and its Fontana, and federal government agencies amounted to $7.5 million. Calif., steel plant. Crude oil lead the list of New The Bureau of Mines report noted that because of an Mexicos minerals with value increase of natural gas wellhead produced reaching $379 million. values, market value of gas Natural gas followed at $156 produced in Utah increased 12.8 million. Petroleum was the leading percent over the previous year. value producer in Wyoming at State and federal government received $918,158 in royalties $380 million. from natural gas production; Molybdenum, at $100 $557,219 from production on million, was Colorados leading producer. the public domain; $309,393 minerals-valu- e lead-zinc-silv- 7. -a- from Indian lands and $51,546 from state lands. Crude-o- il output at 23.5 er mine of ar option. Known as the Magnesium Project, the plant should be completed by late 1971. When plans for the complex were announced in April, E. R. Rowley, board chairman of National Lead, said the companys initial impact on the statess economy would be about $7 million yearly. Trading hours to expand New York Stock Exchange plans to expand its daily trading period to 5 hours from 4 12 hours, beginning Sept. 29, on the cohdition that improvement continues in brokers handling of paperwork in connection with stock transactions. NEW YORK-T- he The National Association of Securities Dealers said it also would add 30 minutes to the trading period. The American Stock Exchange was expected to do likewise. Under the change, trading would be conducted from 10 a.m., EDT, to 3 p.m. EDT. Time is money. Especially computer time. Counter Over-th- e Securities Specialists in nf ; P Computer time as most businessmen know costs a lot. Now CMC Industries, specialists in independent computer time sales and programming assistance.offers lower costs on computer time. CMCs IBM 36020 Model 5 Tape , Disc System can meet the needs of your business. f. dif Give us a call. And start saving time-a- nd money. M. S. Wien & Co., Inc. ' Mmmbmn Now York Security Dmalm Association Vj Established 1919 1 Exchange Place, Jersey Tel: N.Y. BA 00 V ' fc fcv-- V A t lb, 4 '" j. V '.a ' COMPUTER MANAGEMENT CORPORATION City 2, N. J.C.-- HE 00 Correspondents in Principal Cities J. 5900 S. STATE STREET SALT LAKE CITY, UTAH PHONE 266-885- 1 |
