OCR Text |
Show Silver Price Rules Utah Mine Output Important in the arts, a medium of exchange, silver is also vital in the production of other base metals. Without silver none of the mines, except the Kennecott Copper opeo pit mine at Bingham, could operate. oper-ate. For decades there has been a fight to maintain the price of silver so that mines of this regioi could operate and prodiKe lead and sine, both of which are in heavy demand. Under present lawi, the Keren ment paid MYt cents an ounce te the mine and the government takes the difference between that and $1.29, of 88K cent profit on every oono of silver produced. If the miner could realise the full 11.29 per ounce for the white metal, he would be able to produce more lead and tine from low grade ores of the state. It would also stimulate the search for new mine. Moit of the important metai mia-lug mia-lug district of Utah ail were started during periods of high silver sil-ver prices and the first ores were produced on account of the high silver value. |