Show United Park City Shows Profit Ore Shipments Metal Prices Told United Park City Mines Co had hada a third quarter net profit of or two cents a share after depreciation and amortization amortization amortization amort amort- compared to a loss of or four cents a share for the year-ago year quarter The figures were stated be before before before be- be fore depletion Income was for the quarter compared to for the year-ago year quarter ti tiThe The firm reported a nine- nine month loss of or one ole cent a ash s share h are compared to or six cents a share for the year-ago year nine months Nine month income was 2493 compared to the year before The firm is engaged in both mining and recreation Anaconda Co and American Smelting and Refining Co which own just over 30 per percent cent of the o outstanding stock ar are are now engaged in a joint venture to further explore and develop the company's company s zinc silver property near Park City Utah The company has an option agreement with Royal Street Development Co of Newport Beach C California al if 0 r n i a for ac- ac of the firms firm's recreation recreation recreation tion assets These include surface surface surface sur sur- face lands ski and golf facilities under the present name of The Park City Resort The Mining Record MINED LAND RECLAMATION The Bureau of Mines sent a questionnaire to each state asking asking asking ask ask- ing for a report on on n the estimated acreage of land surface-mined surface during 1969 also a breakdown as to commodity Y min mined d. d The state is also requested to submit submit submit sub sub- sub sub- mit a breakdown on the fue estimated acreage of surface- surface mined land reclaimed during last year Similar information is sou sought g h t on land surface utilized or occupied by mineral and solid fuel waste generated through 1969 and the acreage reclaimed THE UTAH DIVISION OF STATE LANDS The Utah Division of State Lands announced a proposed addition to all state land lease forms except oil gas and hydrocarbons of several new provisions including 1 a re requirement requirement requirement re- re that before commencement commencement commencement com com- of operations of a surface nature the lessee re remove remove remove re- re move and stockpile all topsoil in the mining area then when operations are completed level or terrace the site of the mined area as pro prescribed s c rib e d by the lessor the stockpile of top- top soil to be redistributed on the surface of the mined area and the land as prescribed prescribed prescribed pres pres- by the lessor and 2 the lessee agrees that upon request by the lessor prior to the time of commencement of operations he will furnish a performance bond bond- of not less than or larger than this amount as the lessor may re re- re quire There are also other new provisions Copies of the announcement may be obtained from the Division of State Lands State Capitol Salt Lake City Utah Management Management Management Manage Manage- Manage Manage- ment Dig Digest est Utah Mining Association SOLID WASTE DISPOSAL President Nixon signed into law the Resources Recovery Act which authorizes million for a three year program program program pro pro- gram to develop improved technology technology technology tech tech- for wide area-wide collection collection collection tion transportation separation and recycling in disposal of solid wastes The measure es establishes establishes establishes es- es a seven member National Commission to make an investigation leading to the development of a national n a t i o n a 1 materials policy The report will be due by June 30 1973 Management Digest UMA POLLUTION The Environmental Education Education Education tion Act was passed by Congress and signed by the President It authorizes expenditures of 45 million over a three year period to set up antipollution curricula in schools and colleges colleges col- col col colleges leges and creates an Office of ofEn En Environmental vi Education within the Office of Education to help the Commissioner of Education with a program of grants to and contracts with educational and other government government government govern govern- ment and p private r i v at e agencies There will be a member 21 Advisory Advisory Advisory Ad Ad- Council on Environmental tal Education to be appointed by the Secretary of HEW to advise the Commissioner in administrative matters President Nixon issued a directive o ordering r d e r i n g federal agencies to use unleaded or low-lead low gasoline in government government government govern govern- ment automobiles as an antipollution antipollution antipollution anti- anti pollution m mea measure e a s sur u r e e. e and governors governors governors gov gov- of the states to take the same action which Utah's Governor Calvin L. L Rampton Hampton did Management Digest UMA ORE SHIPMENTS Ore shipments from the United Park City Mines Company's Company's Company's Com Com- pany's properties for the month of October was 11 carloads three carloads were shipped for forthe forthe the week of November 2 through the 6 The reason for the small number of shipments is that is concentrating on the development of the Ontario Shaft in Ontario Canyon plus other dev developmental programs and explorations in other areas of the complex underground properties properties properties prop prop- which include Park City east to K Keetley e e t tl 1 e y in Wasatch County METAL PRICES The metal prices of Fridays Friday's closing November 7 had nonferrous nonferrous nonferrous non- non ferrous ores with copper at 56 56 4 1 cents a pound lead at 14 2 1 15 cents a pound zinc at 15 cents a pound Gold is is' per ounce with silver at 1813 per ounce Phelps Dodge on October 21 initiated a 4 cut in the price of copper to 56 per pound and was soon followed by other domestic producers Ken- Ken quote remains 4 1 above the tho others others t at 56 4 1 1 per pound Foreign prices dropped to 49 and 50 Gold after zooming to to new highs for the year dropped suddenly suddenly suddenly sud sud- denly on November 4 it was per ounce and by the closing of November 7 it was Silver continues to advance advance ad advance ad- ad vance rising from 1748 to 1805 then to 1813 |