Word: anaconda
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Metals. Aircraft-parts makers and other metal fabricators have been held back by the metals shortage, especially copper. So the mines of Anaconda, Phelps-Dodge and Miami last week jumped from a sixto a seven-day week. (Kennecott has operated day in, day out for more than a year.) Production increases in the first three companies alone will add perhaps 50,000 tons annually to the U.S. copper supply, an amount equal to 5% of 1940's entire U.S. production...
...High point was a war-inspired 300,000 tons in 1918, chiefly from now run-down oxide beds in Colorado. By 1934 ore production shriveled to 853 tons. It is now about 100,000 tons-10% of a year's needs-mostly turned out from carbonate by an Anaconda Copper subsidiary in Butte, Mont...
Excuse for the silver-buying program and its artificial price floor (now 71.11? an ounce for domestic) was to keep Western miners at work. In the new U.S. shortage economy, this argument no longer holds even a drop of water. Therefore big mining companies (including Anaconda, Phelps Dodge, Cerro de Pasco) also have been seeking new industrial uses for silver as a hedge against possible repeal of the program. Some of their suggestions: substituting silver for copper in electrical contacts, using it with magnesium for lightweight alloys...
HAROLD SLYE Anaconda, Mont...
...Extend a $2,000,000,000 R.F.C. plant-expansion loan for Anaconda, Kennecott, Phelps Dodge...