Show bucka mine stages comeback MR ak W W awl t 6 e surface plant of chief no I 1 mine at eureka cureka utah where old workings yield low grade ores Un watering ln of the lower levels of the tha chiet chief no 1 mine at eureka has brought one of 0 old metal producers back into active production the mine has been reopened below the 2250 foot level and last year pounds ot of vital war metal was produced from below that horizon abandoned years ago the lower levels ot of the chief no I 1 Is an example ot of how price and cost deter mine the extent of the metal reserves of a mine a mining district or a state it Is natural that the lower the cost the lower the grade ot of the ore that can be mined generally speaking I 1 ng ore reserves have become progressively lower in grade since mining was first started ac lively in the early sixties naturally higher metal prices also tend to make possible the mining ot of lower grade ores but as utah producers are dependent upon a world metal market there Is little they can do to influence the price ot of metals icet als under conditions brought about by the war the chief was granted premium price enough to meet the J 1 I deficit of 0 producing the low grade erade ores lying below the water level hence it can readily be seen that nonferrous non ferrous metal reserves are determined by cost and prices the lower that costs are kept the greater will be the states industry and return to people |