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Show Eueka Mine Stages Comeback ' ..... , 1 : . - ... t-S - J . ,!A. , .v-j Mt i -S, Surface plant of Chief No. 1 mine at Eureka, Utah, where old workings yield low-grade ores. Unwatering of the lower levels of the Chief No. 1 mine at Eureka has brought one of Utah's old metal producers back into active production. produc-tion. The mine has been reopened below be-low the 2250-foot level and last year 80,514 pounds of vital war metal was produced from below that horizon. Abandoned years ago, the lower feveb of the Chief No. 1 Is an ex-atople ex-atople of how price and cost deter mine the extent of the metal reserves re-serves of a mine, a mining district or a state. It is natural that the lower the cost, the lower the grade of the ore that can be mined. Generally speaking, speak-ing, Utah's ore reserves have become be-come progressively lower in grade since mining was first started ac tively in the early sixties. Naturally higher metal -s also tend to make possible i 'n-ing 'n-ing of lower grade ores, . as Utah producers are dependent upon a world metal market, there Is little lit-tle they can do to influence the price of metals. Under conditions brought about by the war the Chief was granted premium price enough to meet the deficit of producing the low grade ores lying below the water level. Hence, It can readily be seen that Utah's non-ferrous metal reserves are determined by cost and prices. The lower that costs are kept, the greater will be the state's industry and return to people. |